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Power Metal get Bonanza in Botswana

3 November 2022 16:06
LON: POW

Power Metal Resources have recorded a Bonanza hit in Botswana, with the first three drill hole assays from the Tati project all showing high-grade intersections including a strike of 47.17 grams per tonne gold.

The company just completed a nine-hole campaign which included the first-ever known drilling program on prospect licence 049/2022.

Significant near-surface gold mineralisation was uncovered in all three holes, hosted by dolerite and quartz reef and giving highlights including 1m @ 10.20g/t Au, 1m @ 5.57 g/t Au and 3m @ 16.77 g/t Au, including the Bonanza 1m @ 47.17g/t Au.

The project lies in the relatively underexplored Tati Greenstone Belt and now covers the Cherished hope mine, which the company said it is exploring for near-surface, high-grade extensions.

“The successful intersection of high-grade gold in the three holes for which assay results have been received is very exciting, and the bonanza grade gold assay result already identified naturally inspires us to push ahead with further accelerated exploration work,” chief executive Paul Johnson said.

“Further assay results from the remaining six holes, several of which intersected significant quartz reef intersections (up to 8m thick), are awaited with great interest.”

POW’s London Stock Exchange-listed share price was trading at 1.3 British pence today (3.45pm UTC+ 8 hours).

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