Power Metal Resources Commences Drilling at Molopo Farms Complex

8 February 2024 08:43

Power Metals Resources PLC (AIM:POW) holds an 87.71% interest in Kalahari Key Mineral Exploration Pty Ltd, a Botswana private company which wholly-owns the Molopo Farms Complex Project, where drilling has commenced targeting a district-scale nickel and platinum group element discovery.

Molopo Farms Drilling Campaign

Power Metal has confirmed that diamond drilling has started at the Molopo Farms Complex Project in Botswana, where the objective is to focus on a steeply-dipping high-priority conductor located at target area T1-14.

Currently, the drill hole is underway with a targeted depth ranging from 700 to 800 metres.

T1-14 Targets

In October last year, Power Metal Resources identified the highest priority drill target to date within a geophysical conductor, highlighted through completed geophysical inversions of the widely spaced Audio-Frequency Magnetotelluric (AMT) survey completed over target area T1-14.

The goal of this AMT work was to further refine targeting at two locations along the multi-kilometre scale conductor.

The identified conductor, known as T1-14, stands out due to its exceptional strength, steep dip, and multi-kilometre length.

Crucially, it aligns with the keel of the feeder zone intrusion within target area T1-14.

Additionally, the conductor is located in an area where the Company anticipates finding accumulations of significant nickel sulphides within a mafic/ultramafic complex, thereby bolstering Power’s confidence in the origin of this specific conductor.

Power has now received the results from the AMT work, with the data playing a crucial role in enabling the Company to refine its targeting at target area T1-14 in advance of drill commencement.

Company Comments

Power Metal Resources CEO Sean Wade will be arriving shortly to coordinate with the Company’s in-country operations team on site.

“I am very pleased to see drilling commence at the Company’s Molopo Farms Complex Project in Botswana. I look forward to visiting the drill site later this week and spending time with our operations team to discuss the Project,” he said.

“I also look forward to delivering further updates as the drill programme advances.”

POW’s London Stock Exchange-listed share price is currently trading at 1.04 Great British Pence (8.30am UTC+ 8 hours).

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