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(Wallace Refiners) – Power Metal Resources (LON:POW), the AIM listed metals exploration and development company, announced today that an exploration licence for its 70% owned Kisinka copper-cobalt project, located in the Democratic Republic of the Congo (“DRC”), has been converted to a 25 years production licence.
The project is located roughly 30km east of the regional capital of Lubumbashi in the southern part of the Katangan Copperbelt. On 20 November 2020, the company announced assay results confirming high copper and cobalt values from pitting and mapping exploration programme completed earlier in 2020.
The company said that results from this survey highlight a prominent magnetic high anomaly coincident with a regionally important northwest trending diamictite unit. This geological model possesses many similarities to other Sediment-Hosted Copper Deposits found within the prolific Congolese Copperbelt.
Two additional northwest trending magnetic high features were also identified within the southern portion of the surveyed area. The relationship of these geological units with robust copper-in-soil anomalies identified on the property are possibly indicative of a redox boundary common within Kupferschiefer copper deposit types (e.g. Kamoa-Kakula Deposit, DRC), Power Metals added.
The company noted that the size of the mineralised area identified by the work to date makes Kisinka an important potential copper-cobalt project in the company’s base metal portfolio, located in one of the world’s best copper-cobalt districts.
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