- Mining group Power Metal Resources said exploration work had now commenced at the Alamo gold project in Arizona.

An exploration team including two geologists and a local prospectorwere undertaking a reconnaissance survey of the project footprint expected to be completed shortly.

The survey would review key areas where the bulk of gold nuggets were found in alluvium.

Results would be utilised to finalise a follow-on exploration programme, likely to be centred on geochemical sampling and project mapping.

'This is an expeditious start to the exploration work at the Alamo gold project and I look forward to the findings of the survey,' chief executive Paul Johnson said.

'We intend to continue exploration work at pace, but in a disciplined manner.'

'Our main objective is to identify a large mineralised gold system, and along the way we will be informing shareholders of progress and key developments in what is, significantly, our first gold exploration programme.'

At 2:29pm: [LON:POW] share price was 0p at 0.93p

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