Power Metal Resouces PLC said it is preparing to drill test its highest priority conductor at its Molopo Farms Complex nickel and copper project in Botswana following recent geophysical studies.
Negotiating and signing a drilling contract is now underway to commence operations early in the first quarter of 2024.
In October, Power Metal said it had identified a conductor that was very strong, steeply dipping and multi-kilometre in length and importantly a co-incident with the keel of the feeder zone intrusion within target area T1-14.
Sean Wade, chief executive, commented: "Molopo has been, and remains, one of our highest priority exploration opportunities and one that we remain convinced has the potential to be a significant value driver for Power Metal.
"Given the amount of data collated over previous exploration campaigns at Molopo Farms, our London-based technical team have been working with local advisors to complete a detailed examination of findings to date.
“The outcome of this work was the confirmation of the highest priority conductor identified to date at Molopo Farms.
“It has been important to take the appropriate amount of time and to diligently prepare for what we believe may be a highly significant next round of drilling.”