Red Rock Resources Plc, the natural resource development company with interests in gold, copper/cobalt, manganese and minerals, is pleased to note the announcement today by Power Metal Resources plc (“POW”)(AIM:POW) entitled:
“Botswana Molopo Farms Complex – Assay Results
Significant Nickel Intersections Confirmed by Drill Sample Assay Results”.
A copy of the announcement is available at the POW website at https://www.powermetalresources.com/l/news
Red Rock Chairman Andrew Bell comments: “We are pleased to note the POW news that significant nickel intersections have been encountered in the first batch of assay results from the diamond drilling at the Molopo Farms Complex.
The inferred feeder zone in the Molopo Farms Complex contains what appear to be multiple zones of primary and secondary nickel mineralisation in serpentinised rock.
Even for a relatively small shareholder in Power Metal Resources such as Red Rock, we regard these results as significant. We have long sought exposure to a nickel project with the potential for scale, which POW may now be able to provide. Such projects are few in number.
With investment in a leading manganese producer, and involvement in several nickel and copper/cobalt projects, Red Rock continues to build its presence in electric battery raw material markets.
We look forward to further announcements from POW”.
Red Rock has since the recapitalisation of POW in early 2019 held 25,000,000 ordinary shares in POW (approximately 2.2%) and 20,000,000 warrants convertible at 1p into POW ordinary shares. POW shares closed at 2.15p on 7th April 2021.
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