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Power Metal takes more interest in Botswana

28 July 2021 20:25
LON: POW
Gold, mining

London-listed Power Metal Resources has taken full interest in two gold-nickel exploration licences to explore the “major” potential of Botswana’s Tati Greenstone belt.

The historically rich mining region is ripe for the picking with a compilation of existing data, driving a first-phase of extensive exploration work to flesh-out several  kilometre-scale nickel, arsenic and gold anomalies.

The latest prospect highlights the company’s commitment to mining in Botswana  adding to its stakes in the South Ghanzi Kalahari copper belt, rare earth discoveries at its Ditau Camp project  along with nickel, copper, rare earths and platinum group element discoveries at the massive Molopo Farms complex.

“The Tati Greenstone Belt is an ancient Archaean greenstone belt in the east of Botswana towards the Zimbabwe border. Francistown and its surrounding area were the site of the first South African gold rush in the nineteenth century, and have not had extensive modern exploration,” chief executive Paul Johnson said.

Power Metal’s next steps will be delivering exploration updates to the market as the samples collected are due to be assayed utilising multi-element analysis.

The company hopes to be up-and-running with drilling programmes across its four Botswana interests in 2021, seeking multiple metal discoveries across the portfolio.

In early UK trade, the explorer’s London Stock Exchange listed shares rose 2.51 per cent today,  trading at 2 British Pounds (10.08 GMT +1 hour).

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