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Power Metal spot a superconductor

25 October 2022 15:08
LON: POW

With drilling at the Molopo Farms Complex in Botswana ongoing, Power Metal Resources have identified a geophysical electromagnetic superconductor at target area T1-14 — holding a conductance reading akin to massive sulphides.

The target area has now been upgraded to priority status as the strongest conductor identified by the moving loop electromagnetic survey to date.

EM conductors have continued to be revealed at the project, giving the company four A+ priorities to drill, and while slightly deeper, the presence of a superconductor at T1-14 raised its profile significantly.

The company said while mineral discoveries often take a long lead time, with the drill rig running, it could target the superconductor for a massive nickel sulphide discovery in the coming weeks.

“The momentum at our Molopo Farms Complex Project continues to build and we now have four Company designated priority (A+) targets that we plan to test during the ongoing drilling campaign,” chief executive Paul Johnson said.

“The results from the extra MLEM work over target area T1-14 are quite definitive and have resulted in the upgrade of this target area following the identification of a superconductor.”

Diamond drilling at the superconductor target area will soon begin, following completion of two drillholes on the conductor identified at the T1-6 target area.

POW’s London Stock Exchange-listed share price was trading at 1.3 British pence today (2.48 pm UTC+ 8 hours).

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