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Power Metals Recommence Field Exploration at Tati Gold Project

6 October 2023 10:45
Pow

Power Metals Resources PLC (AIM:POW) has resumed field exploration at its wholly owned Tati Gold Project on the Tati Greenstone Belt near Francistown, Botswana, and reported promising results.

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Figure 1: Tati Project Overview Map

Encouraging So Far

Initiated in 2021 to evaluate the potential of the tenement, the Project’s exploration efforts have escalated since the initial reconnaissance, with the Company successfully executing two drilling campaigns; the first, conducted in the first quarter of 2022, specifically focused on the western portion of the gold-in-soil anomaly, yielding promising results such as up to 3 metres of 5.17g/t Au from a depth of 9 metres downhole.

Conducted during the third quarter of 2022, the second campaign produced several bonanza-grade gold intercepts, with highlights such as 47.1g/t and 40.6g/t Au over a 1-metre span.

In September of this year, the Company unveiled the outcomes of geochemical soil sampling surveys conducted at Tati, revealing the presence of two notable gold anomalies situated within an established eight-kilometre gold trend.

Prior drilling efforts by the Company within this trend have previously yielded remarkable near-surface gold results, including a bonanza-grade discovery of up to 47.1g/t over one metre.

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Figure 2: Tati Project 2023 Geochemical Results Map

Power Metals have now returned its operational team to the Project to recommence follow up exploration, given the scale and significance of the confirmed anomalies.

The aim of these programmes is to rapidly assemble an evidential dataset to demonstrate the extent and intensity of gold mineralisation throughout a greater portion of the gold trend.

Backed by a wealth of historical mine workings, robust grade fines dumps, comprehensive soil sampling, trenching, and reverse circulation drilling, the Company holds a strong belief in the presence of gold mineralisation at the Project.

Expedited Exploration

Power Metals plans to complete additional detailed soil sampling on six unique targets identified, including 450 samples for gold assay testing.

One of these six targets includes a key focus area where recent geochemical sampling highlighted a clear 400 metre long southward trending extension.

The Company reported that the extension of this area remains open towards the south and southwest, extending from the soil anomaly linked to the historical Cherished Hope mine workings. These workings were the focus of Power Metal’s productive diamond drilling program in the second quarter of 2022.

From here, the Company plans further sampling at this target area to focus on in-fill as well as step-out sampling to better understand the size and orientation of this priority zone.

Sean Wade, Chief Executive Officer of Power Metal Resources plc, expressed satisfaction with the Company’s ability to generate positive news flow throughout its portfolio, despite the challenging conditions prevailing in the capital markets.

“Tati has always been a very high priority project for us and I am delighted that we have been able to follow up the recent positive announcement with further progress,” he said.

“After the successful confirmation of two significant gold anomalies, we wanted to expedite this ground follow up, and that is what we have done. Whilst it is always important to manage expectations, we are very optimistic that this follow up programme will further our geological understanding of the Project and lead us towards what we hope will be a significant economic discovery”

POW’s London Stock Exchange-listed share price is currently trading at 0.65 pence (10.45am UTC+ 8 hours).

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