Power Metal Resources plc (AIM: POW) has reported encouraging technical results from its Perch River uranium project in Saskatchewan, Canada, highlighting increasing prospectivity at depth.
The update relates to the Perch River Uranium Property, held under a joint venture with Fermi Exploration Ltd. New supplementary drill core sampling from the Rapids Fault Structure indicates a geochemically and mineralogically “fertile” system, with potential for significant uranium mineralisation.
Key findings include the presence of alteration minerals such as sudoite, hydrothermal tourmaline and dolomite—commonly associated with unconformity-related uranium systems. Elevated boron levels of 779 ppm were also recorded in drillhole PR25-01, a recognised pathfinder for uranium deposits.
Importantly, geochemical analysis confirmed anomalous radiogenic lead isotope signatures across at least 400 metres of strike, suggesting proximity to uranium mineralisation. While the 2025 drilling campaign did not intersect primary uranium, the technical interpretation is that drilling likely intersected the upper, distal portion of a larger hydrothermal system.
Management now believes the core of the system—where higher-grade uranium mineralisation could occur—remains untested at greater depths. As a result, Perch River has been elevated to a priority target for follow-up drilling.
Overall, the results strengthen the geological case for the project, indicating that previous drilling may have narrowly missed a potentially significant uranium system.
