FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Power Metal charging Botswana’s nickel

8 December 2022 11:33
LON: POW

With four A+ priority targets, Power Metal Resources have been turning heads over the past few months as exploration at its Molopo farms complex begins to pull back the layers of the Botswanan project’s nickel potential.

Drilling at the T1-6 target has been completed, hitting its target depth of 650 metres and intersecting interbedded mafic units comprised predominantly of pyroxenites and serpentines.

Pyroxenites were the host rock for nickel sulphide mineralisation first found within T1-6, and Power Metal currently await results from a second drill hole designed to test their shallow extensions.

Drilling at the T1-3 priority target is just under a hundred metres away from a completion depth of 450 metres, with initial core review showing visible nickel sulphides, with an increase in the intensity of visible disseminate sulphide between the in the interval from 348-354 metres.

Once drilling at T1-3 is completed, the rig will move to the recently identified and yet-untested T2-3 target, which remains open in all directions over 12 kilometres.

The company said Molopo Farms represents a substantial discovery opportunity in both size and potential.

“Targeted pyroxenite intervals originally intersected by the 2020/2021 drill hole KKME1-6 have successfully been intersected by the two new follow-up drill holes into this target area. Drill core samples from DDH1-6B are currently at the lab undergoing assay testing,” chief executive Paul Johnson said.

“We push on with increased confidence and look forward to reporting further results as well as progress updates surrounding the completion of the drill hole at Target T1-3, as well as the commencement of inaugural drilling at target area T2-3.”

POW’s London Stock Exchange-listed share price was trading at 1.40 British pence today (9.44 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This