Power Metal Resources PLC (AIM:POW) said geochemical soil sampling at its Tati project in Botswana has identified two significant gold anomalies on the greenstone belt near Francistown.
A total of 280 infill soil samples at a spacing of 40 metres from two grids in the southeastern quadrant of Power Metal’s licence have helped determine the anomaly strike directions, which remain open in both grids, it said in a statement.
Sean Wade, Power Metal’s chief executive, added: "Based on the soil sampling data and the 8km long gold trend the project appears to offer the potential to host a very large gold deposit, which we know has been, in part, the subject of historical mining activity, further underpinning its development potential.”
Power Metal added it continues to manage inbound interest for small-scale mining at the nearby Cherished Hope gold mine area where it drilled in 2022 near the surface and returned gold grades of up to 47.1 grams per tonne over 1 metre.