Power Metal Resources PLC (AIM:POW) has announced a drilling update from the Molopo Farms Complex Project which is targeting a large-scale nickel and platinum group element (PGE) discovery in southwestern Botswana, that shows "strong momentum" in the operations.
The London-listed exploration company, which is seeking large-scale metal discoveries across its global project portfolio, said that diamond drillhole DDH1-3A has been completed at target area T1-3 to a depth of 450 metres (m).
The inaugural drillhole (DDH2-3A) into target area T2-3A has also progressed well to the current downhole depth of 129.4m, it added, with drilling operations now paused for the holiday season.
The electromagnetic (EM) geophysics conductor at target area T2-3A is located at approximately 400m downhole depth, so will be drill tested following the resumption of drilling operations expected early to mid-January 2023. Power Metal said.
In a statement, Paul Johnson, chief executive officer of Power Metal commented: "There is a strong momentum with our operations at Molopo Farms in Botswana where we have now commenced drilling at target area T2-3, a 12-kilometre-long magnetic body which represents another stand-out target we are eager to test."
"From 5 drillholes across 4 target areas we have completed over 2,000m of diamond drilling, the drill core from which, is now the focus of multiple ongoing technical work streams including detailed core logging, downhole geophysics analysis and assay testing.
"I look forward to reporting back to the market on developments at Molopo Farms as soon as practicable," he added.
A short presentation capturing developments at Molopo Farms and Power Metal's 100% owned Tati gold Project is available on the company's website which is available via the following link: https://www.powermetalresources.com/investors/botswana-in-focus-december-22/