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Additional Information

Market:	PMR
Sector:	General Mining
EPIC:	PMR
Latest Price:	0.22 (0.00%)
52-week High:	0.23
52-week Low:	0.21

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Precious Metal Resources

Precious Metal Resources (ASX: PMR) is targeting volcanic massive sulphide deposits in New South Wales.

Precious Metal Resources: one of the best performing IPO's of the past three months

Friday, January 27, 2012 by John Phillips

Precious Metal Resources (ASX: PMR) has been one of the best performing IPO's in the past three months, with the company trading at a 10% premium in its two months of public life, after a successful IPO which offered 10 million shares at $0.20 to raise up to $2 million.

The company has some very interesting projects, which includes granted tenements located at Halls Peak, which is located 80 kilometres south-east of Armidale in New South Wales, and is also targeting VMS deposits.

Precious Metal Resources ultimate aim is to host a high-grade deposit of between 30,000 and 170,000 tonnes within a global exploration target of 5 to 70 million tonnes of mixed grade mineralisation.

Providing a boost to the prospectivity of the area, several geochemical and geophysical anomalies are also present that should identify further high grade, near-surface sulphides.

Halls Peak provides a compelling position

A plus for the chances of exploration success for Precious Metal Resources is the strategic location in Halls Peak, which is an inferred volcanic centre for extensive small but high grade VMS deposits.

A substantial body of exploration data has been generated over the years by the Geology Survey of New South Wales and a number of major mining companies including, BHP Billiton (ASX: BHP), MIM Ltd., The Zinc Corporation, Allstate Exploration NL, Carpentaria Exploration Co. Ltd., CRA Exploration Limited and Amoco Minerals Australia Co.

Precious Metal Resources will look to expand on this work.

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