Precious Metal Resources Limited

About Precious Metal Resources Limited

Precious Metal Resources Ltd  (ASX:PMR) (“PMR” ) is an Australian-based  exploration company with a World Class deposit potential in base and precious metals – copper, lead, zinc, silver and gold, located in regional NSW, Australia. PMR holds ELs and ELAs over prospective base and precious metals, many in close proximity to Sovereign Gold Company Ltd (ASX:SOC) (“Sovereign Gold”), targeting a range of mineralisation styles including:

  • Halls Peak: Large scale sedimentary exhalative (SEDEX) polymetallic targets
  • Peel Fault Joint Venture (JV): gold exploration
  • New England: Broken Hill style polymetallic targets, VMS and porphyry targets

Additionally, PMR has signed JV/MOU’s with SUGEC who are spending $10m on exploration to acquire a 30% interest in 3 exploration licences. PMR and Sovereign Gold have significant cost synergies and PMR provides Sovereign Gold with increased scale, resources and exploration opportunities.

Key Highlights

  • Potential World Class high grade base metal resource
  • A$10 million work program underway at Halls Peak, fully funded by investment from Chinese SOE (JV/MOU’s) partner Jiangsu Geological & Engineering Co Ltd (SUGEC)
  • Heliborne VTEM survey identified large conductors that may be potential large SEDEX deposits
  • Close to port – only 4 hours drive to Newcastle port
  • Several geochemical and geophysical anomalies are present that potentially identify further high grade, near-surface sulphides
  • Indications for the presence of orogenic gold from breccia floaters and small pods of Au–rich quartz on the tenements carrying 1 to 10 g/t Au
  • Simple, continuous, flat lying characteristics also analogous to Citronen Greenland zinc Deposit and Atlantis II Red Sea Base Metal deposit
  • Substantial body of exploration data to support exploration program objectives already extensively reviewed
  • VTEM suitable for PMR’s Broken Hill tenements – potential to quickly identify mineralisation.
  • Good infrastructure in local district at Halls Peak and Broken Hill
  • Conceptual room and pillar mining potential for Halls Peak
  • Previous drilling data indicates known high grade mineralisation
     

 

 

 

Last updated 30 October 2013

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