With drilling underway at its flagship Molopo Farms Complex in Botswana, Power Metal Resources analysis of magnetic geophysical surveys have unveiled a new large geophysical conductor.
The new target lies in area T2-3, remaining open in all directions and extending approximately 12 kilometres.
The company’s excitement about the new target is obvious, being granted the same A+ priority ranking as the T1-6 target currently being drilled.
No drilling has occurred over the new target, but this will soon change with plans for a 600m diamond core drill hole to intersect the new conductor as soon as current drilling is completed.
With a globe-spanning portfolio, Molopo Farms has remained Power Metal’s main priority, targeting a large-scale nickel, copper and PGE discovery in the southeast of the nation nicknamed the gem of Africa.
The company said while the T1-6 target remains top priority, T2-3 presents an equally compelling target.
“Today’s news potentially has even greater significance with the confirmation of a major conductor at T2-3 which adds another high-priority target to the list for drill testing during the ongoing campaign,” chief executive Paul Johnson said.
“The findings from T1-6 in terms of potential mineralisation are keenly awaited and, given the results of the latest geophysical review, we will be looking to also drill T2-3 at the earliest opportunity.”
POW’s London Stock Exchange-listed share price has risen 8.47 per cent today, currently trading at 1.6 British pence (3.34 pm UTC+ 8 hours).