leadf
logo-loader
viewPower Metal Resources

Power Metal Resources completes second drill hole at Molopo Farms

Chief executive Paul Johnson said the company is pleased with progress at the project in Botswana.

Power Metal Resources - Power Metal Resources completes second drill hole at Molopo Farms

Power Metal Resources PLC (LON:POW) told investors that it has successfully completed the second drill hole at its Molopo Farms Complex project in Botswana.

Hole KKME 1-6 was drilled down to depth of 547 metres (m). The company noted that ultramafic rocks were intersected immediately beneath the Kalahari Group sediments at 27m and continue to the end of hole.

The hole had a total ultramafic intercept of approximately 520m, it added. Two shear zones were intercepted, at 501m and 515m respectively.  Core from the hole will undergo detailed geological logging with selected samples sent to nickel and PGM assays.

READ: Power Metal starts fieldwork at Alamo project

A third drill hole is set to be drilled when the drill team returns from their scheduled Christmas break.

"We are pleased with progress at Molopo Farms Complex,” said Paul Johnson, chief executive in a statement.

“Results from the second drill hole continue to demonstrate the target geological model of an intrusive feeder zone which is a prospective setting for nickel and PGM mineralisation.”

“Drilling for the remaining two drill targets will recommence after the Christmas break and in the interim the extensive technical work in relation to the first two completed holes continues.  We will provide further updates as material developments occur."

Johnson, meanwhile, highlighted a new collaboration in Botswana. “We are also excited to report that Kalahari Key has signed collaboration agreements with two companies which are at the cutting-edge of remote sensing and data processing for exploration targeting,” he said.

“These collaborations have the potential to provide valuable insight and efficiencies into the exploration process proving supplementary high resolution targeting over the extensive Molopo Farms Complex licences.”

Quick facts: Power Metal Resources

Price: 2.5 GBX

AIM:POW
Market: AIM
Market Cap: £27.98 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Power Metal Resources named herein, including the promotion by the Company of Power Metal Resources in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Red Rock Resources on route to exploration after priority licences win

The award of three priority licences in Australia’s highly prospective Ballarat has been described as 'game changing' for awardee Red Rock Australasia (RRAL). The gold exploration focused joint venture between Red Rock Resources (LON:RRR) and Power Metal Resources (LON:POW) now has 215 sq km...

3 weeks, 1 day ago

2 min read