Power Metal - Kisinka Project Update
· Following the discovery of a large 6.8km copper anomaly running north west to south east in the 2019 field programme, in
· The programme was carried out over 40 days to
· The overburden profile was less than expected at 5-10m, with the water table higher than expected; two types of soil were detected, with a 0.5-3.8m argillaceous soil layer and a lateritic horizon of 1-9m, followed by saprolitic rocks including dolomitic and brecciated siltstones down to bedrock;
· 211 samples including 11 field duplicates were collected and after sample preparation at the
· Another batch of samples will be sent to the ALS laboratory in
· Results from the XRF testwork confirm the copper anomalous zones identified in the previous geochemical survey, with higher values and a wider zone detected, and open to the north west and south east;
· Copper anomalous zones are quite well correlated with major structures inferred from the detailed mapping, and in the south east with a brecciated zone situated between two strike-slip faults;
· Cobalt anomalism was indicated in both zones, more strongly to the north west, and analysis of the weathering-related elements (Mn and Fe), and the vertical distribution analysis showing copper and cobalt values increasing downwards, give evidence of a leaching process, which the spatial relationship of the anomalous zones suggests is towards the south east;
· The next steps will be planned after receipt of the ICP laboratory test results, but
"The confirmation and in fact enlargement of the copper anomalous areas detected in previous exploration enables us now to go forward with confidence. The laterization and leaching that we encountered support the theory that there may be supergene enriched mineralisation at a lower level, so we particularly want to investigate this.
The presence of cobalt partly correlated with the copper is another positive indication. After confirmation from the ICP analysis, which we may extend to include samples from the earlier termite mound sampling, we will release the data on cobalt and copper levels in the anomalies.
We were able to relate some mineralisation areas to structures and faulting, and to build on that work and generate the best drill targets we will need to carry out some geophysics.
The lockdown and interruptions to travel impacted this programme, and we are grateful to
Power Metal has completed all elements of the follow up programme at the
The programme was launched earlier this year as outlined in the Company's
In total 21 pits totalling 174.3 metres were dug on 9 cross-sections across the Target Area for copper, with 16 reaching target depth and 5 stopped in the lateritic overburden at around 6m due to water table contact.
From the pits 209 channel samples of 2kg each were taken, including 3 samples from the bottom end bedrock in certain pits, and including 11 QA/QC duplicate samples. After preparation at the
In addition to the 16 pits reaching target depth and 5 pits stopped in the lateritic cover, 3 pits were left for possible later completion when conditions are drier.
Progress was slowed by the hardness of the massive haematitic ironstone intercepted in some pits, as well as by the water return.
The regolith in the Kisinka region is characterised by four types of saprock that were intercepted in the pits, including saprock after siltstone, brecciated siltstone, haematitic ironstone, and sandstone.
Based on the existence of the ironstone discovered overlying the siltstone, the lithological units intercepted from the pitting programme in the Kisinka region belong to the Lower Mwashya (R4.1) Formation of the Mwashya Subgroup of the predominantly dolomitic rocks of the
Traces of malachite copper ore in replacement mode were observed in one pit.
A detailed mapping of lithological units has been carried out and is shown with pitting locations in a detailed geological map produced from the bedrock intercepted from the pitting programme at Kisinka.
The addition of results from the pitting and XRF testing to the data from previous programmes has resulted in an enlargement of the mapped copper anomalous zone as can be seen in a Kisinka pitting Geochem Cu contour map.
Both maps may be viewed through the following link:
Competent Person Statement
The technical and related information in this report relates to exploration results based on information from third parties and data compiled by Steffen Kalbskopf Pr.Sci.Nat, FGSSA and
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For further information please visit https://www.powermetalresources.com/ or contact:
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+44 (0) 7766 465 617
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SP Angel Corporate Finance (Nomad and Joint Broker)
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+44 (0) 20 3470 0470
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SI Capital Limited (Joint Broker)
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+44 (0) 1483 413 500
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David Cockbill/Jason Robertson
+44 (0) 20 7330 1883
Notes to Editors:
The Company has a portfolio including key interests in Australia, Botswana, Cameroon, The DRC and Tanzania. The interests represent large scale exploration projects targeting mainly cobalt, copper, gold, nickel and platinum group metals. Project interests range from early stage greenfield exploration to later stage drill ready prospects.
The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company's position to become a leader in the London market for investors wishing to gain exposure to proactive metals exploration.
This information is provided by RNS, the news service of the
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