Aim-listed Power Metal Resources has completed the registration of the additional claims at its Alamo gold project in Arizona, in the US.
The follows a previous update where the company confirmed that following a successful site visit in January, its local partner had completed the staking of additional claims to significantly expand the project footprint.
At that point, additional claim areas were being registered with the County and Bureau of Land Management.
Now that this has been undertaken, the footprint of the project covers the area potentially containing a proximal bedrock gold source for the gold nugget mineralisation identified near surface.
Historically, about 60 z of gold nuggets at surface were found in the original project area.
On April 21, the company also announced that the project due diligence period had been extended to June 30, with the agreement of all parties, with no extension fees payable, reflecting the disruption to normal activity due to lockdowns in respect of Covid-19.
That period has now expired; however, the company remains in discussions with a view to concluding its due diligence and related contractual agreements.
A further update will be provided on successful completion of discussions in respect of Alamo.
"I am eager to conclude our discussions in respect of the Alamo gold project; however, my primary duty is to take care of Power Metal shareholder interests by completing our work fully.
"I would like to thank our local partners for their support with our work and would confirm that if we are able to conclude our review and discussions successfully shareholders will be updated accordingly,” comments Power Metal CEO Paul Johnson.