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Power Metal go deep at Molopo

21 October 2022 13:19
LON: POW

Power Metal Resources keep up the pace at the Molopo Farms Complex, with its first diamond drill hole intercepting ultramafic rocks down to a depth of 576 metres and showing visual nickel sulphide mineralisation.

The DDH1-6b hole is only 530m south of a previous hole which returned nickel grades up to 13,961 parts per million and early inspection of the new hole shows interbedded mafic units comprised of pyroxenites, the host rock for nickel sulphides found at the previous hole.

With visual sulphide mineralisation found in pyroxenites towards the end of the current hole, Power Metal are extending the hole further in hopes of intersecting further pyroxenite, now aiming for a target depth of 650m.

This first hole hits target T1-6, one of Molopo Farms’ three priority targets, boasting approximately 2600 metres of strike length with a total down dip extent of 1000m.

The company said it is excited to be getting such positive results so early into the program.

“The initial findings from hole DDH1-6B are exciting, confirming the extension of pyroxenite layering to the south of original hole KKME1-6 and providing significant core intervals for expedited processing and subsequent assay testing,” chief executive Paul Johnson said.

“The opportunity at Molopo Farms is considerable, so I am particularly pleased to report the findings above so early in this ongoing programme and look forward to releasing further information as soon as possible.”

Once this new target depth is reached, the explorer plans on undertaking a downhole electromagnetic survey to assist with the planning of further drill holes.

POW’s London Stock Exchange-listed share price was trading at 1.39 British Pence today (12:53 pm UTC+ 8 hours).

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