Power Metal Resources reveals major helium anomaly
Power Metal Resources unveils significant helium abnormality
Sharecast - The company listed on AIM stated that the finding was revealed after employing hyperspectral analysis, using data collected by the Sentinel-2 satellite, to examine the reflectance of minerals.
According to the blog, the technique identified numerous unusual helium occurrences in the undertaking, with a particularly significant helium reaction detected at the heart of the project.
The robustness of the helium reaction indicated the potential existence of significant uranium mineralization as one of the potential explanations.
On the other hand, it might suggest the escape of helium from a hidden underground storage located within the Earth's crust.
In light of the discovery, Power Metal (LON:) announced that it has strategically reassigned its field teams, who were previously dedicated to the company's uranium properties, in order to perform a thorough and detailed soil sampling grid in the area where high concentrations of helium have been spotted.
Moving forward, the company expressed its intentions to partner with a specialist in helium gas, aiming to outline the most effective future actions for better evaluating and possibly harnessing the finding.
Chief executive officer Sean Wade expressed his exhilaration in notifying stakeholders about this significant update.
“As we have mentioned before, the ongoing exploration in the expanded uranium field for this season is still in progress, and additional information will be given at an appropriate time.”
Nonetheless, Wade expressed that the clues obtained by the company from Perch River could carry immense importance and justified an urgent disclosure.
While it is crucial to properly handle people's expectations, it can be stated that the identification of such a significant deviation has greatly surpassed what we anticipated. This paves the way for a promising series of updates regarding our uranium collection as a whole.
Shares in Power Metal Resources have risen by 15.87% to 0.81p at 1329 BST.
Article written by Josh White for Sharecast.com.
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