Power Metal identifies 'fertile structure' at Perch River

1st May 2026 13:54

(Sharecast News) - Power Metal Resources said on Friday that supplementary drill core sampling at the Perch River uranium property in Saskatchewan had identified what it described as a fertile structure with potential for significant uranium mineralisation at depth.

The AIM-traded company said the Perch River property, which is held under its uranium joint venture with Fermi Exploration, had been reviewed using additional geochemical and mineralogical data from drill core samples collected within the Rapids Fault Structure.

Power Metal said the results confirmed a geochemically and mineralogically fertile environment for unconformity-related uranium deposits.

It said the presence of sudoite, hydrothermal tourmaline and dolomite within the fault structure supported that interpretation.

The supplementary samples were collected in December 2025 from holes drilled during Fermi's June and July 2025 programme.

The original programme had intersected promising geology but no primary uranium, and was ended at the time.

Routine analysis later identified highly anomalous lead isotope ratios, which the company said could act as a proxy for uranium mineralisation, prompting additional sampling.

Power Metal said drillhole PR25-01 returned boron levels of 779 parts per million, which it described as a critical pathfinder often associated with primary uranium mineralisation within a 100-metre proximity.

Geochemical analysis also confirmed previously anomalous lead isotope results along at least 400 metres of strike on the Rapids Fault Structure.

The company said the deeper section of drillhole PR25-04A returned the highest radiogenic lead values, with lead isotope ratios above 100, coinciding with sudoite alteration and the highest recorded uranium value of 130 parts per million.

Chief executive Sean Wade said the supplementary results "fundamentally upgrade" the prospectivity of Perch River.

"While our 2025 drill programme did not intersect primary uranium, the identification of classic near-miss indicators, confirms we have successfully drilled into the upper halo of a potentially fertile hydrothermal system," he said.

"Crucially, the highly anomalous radiogenic lead acts as a direct vector, giving our technical team clear justification for potentially high-grade core at greater depths."

Wade said the data transformed Perch River into Power Metal's highest-priority target for follow-up drilling.

The Rapids Fault Structure is an east-west-trending, subvertical inferred fault and alteration system extending for about 650 metres.

It lies east of, and is likely related to, the north-south-trending Font du Lac Fault, which crosses the centre of the Perch River property.

Power Metal said ambient noise tomography data indicated the Rapids Fault System could extend below the unconformity to depths of one kilometre or more.

The company said the technical team interpreted the 2025 drilling as having intersected the distal, upper extent of the system.

It said the convergence of high-temperature sudoite alteration, hydrothermal tourmaline and radiogenic lead suggested that the hydrothermal core, which could contain uranium mineralisation, remained untested at greater depths.

A total of 105 supplementary samples were collected from three drillholes, comprising 91 samples from PR25-04A, eight from PR25-01 and six from PR25-05.

They were analysed for a full chemical suite and short-wave infrared spectroscopy, while petrographic analysis was carried out on 10 samples.

Power Metal said PR25-05, located 500 metres east of PR25-01 and 760 metres east of PR25-04A along the Rapids Fault Structure, did not yield a fertile mineralogical or geochemical signature over the sampled interval.

The company said its inferred geological model suggested PR25-01 intersected the upper, illite and boron-rich distal extent of the hydrothermal alteration system, while PR25-04A reached a lower structural level marked by sudoite and illite dominance, indicating closer proximity to the high-temperature core.

Power Metal said the integration of lead isotope, geochemical and mineralogical data, including boron, nickel, arsenic and copper pathfinder associations, demonstrated that the Rapids Fault Structure had high potential as a fertile mineralising structure.

Fermi's technical team concluded that the 2025 drilling was too shallow to intercept primary unconformity-style mineralisation, leaving significant potential for a major uranium discovery at greater depths along the structure.

At 1313 BST, shares in Power Metal Resources were flat at 13.25p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate