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Power Metal Resources Confirms Extensive Gold at Tati Project

7 February 2024 09:36
Gold 2

Power Metals Resources PLC (AIM:POW) continues to make strides in its exploration of the Tati Gold Project, located on the Tati Greenstone Belt in Botswana, reporting the results from an extensive soil sampling program have yielded significant gold mineralisation.

Soil Sampling Program

The Company collected 446 individual soil samples from four separate grid areas, aiming to test for additional gold mineralised zones within the 8 kilometre long gold mineralised trend which extends in a northwest-southeast direction through Tati.

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Figure 1: Tati Gold Project 2024 Soil Results Map (Gold – ppb)

Of the 446 sampled collected, three returned grades greater than 500 ppb gold, including individual soil sample gold assay results of 568ppb, 831ppb and 1,076ppb Au. These results are equivalent to 1.076 g/t Au, demonstrating significant high-grade potential for the Tati Project.

The soil sampling program was also successful in confirming the presence of three significant gold-in-soil geochemical anomalies, proving further continuity within the gold trend at Tati.

The anomalies have been categorised as the Northwest Anomaly, Southwest Anomaly and Cherished Hope Anomaly.

Cherished Hope Anomaly

Power also notes that 29 samples returned 100ppb Au or above, with the vast majority of these form part of the Cherished Hope Anomaly. The sampling results indicated Cherished Hope is greater than 600 metres-wide and remains open in multiple directions.

This Anomaly represents a significant extension zone trending southwest from the original Cherished Hope historical mine workings.

It was here in 2022 where Power Metal drilled 3 metres at 16.77g/t Au from 5 metres, including 1 metre at 47.17g/t in hole CHRC0003. Power also intesected 2 metres at 23.17g/t from 25 metres, including 1 metre at 40.63g/t Au) in hole CHRC0006.

Southwest and Northwest Anomalies

The Southwest and Northwest Anomalies are located approximately 1.5 kilometres and 3 kilometres from the Cherished Hope Anomaly respectively.

The position of these anomalies indicates the potential for a significantly larger anomalous gold-in-soil footprint at the Tati Project, subject to further infill sampling work to confirm this hypothesis.

On the back of these promising results, Power Metal continues to push forward commercial discussions regarding the potential for small-scale mining at its Cherished Hope Gold Mine, in parallel with continuing exploration work, further details of which are expected to be announced in the near term.

Company Comments

Power Metal Resources CEO Sean Wade commented on the promising gold results.

“This gold soil sampling programme has delivered quite remarkable results in terms of a confirmation of the significant area mineralised and also the consistency of positive results across the areas tested,” he said.

“Each stage of work at Tati has delivered extremely positive findings and we are more confident than ever that the Project holds very significant value for the Company.”

“As a result, we are positively moving forward to next stage exploration whilst in parallel continuing discussions with potential partners interested in the early-stage mining possibility that exists at Tati.”

“Further updates will be provided in due course.”

POW’s London Stock Exchange-listed share price is currently trading at 1.07 Great British Pence (9.35am UTC+ 8 hours).

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