Power Metal Resources PLC (LON:POW) said it has completed an earn-in for a 40% direct project interest in Kalahari Key Mineral’s Molopo Farms project in Botswana.
Paul Johnson, chief executive, said: "In a journey that began with our original agreement with Kalahari Key in May 2019, the MFC Project has moved forward dramatically.
“On 8 April 2021 we announced significant nickel intersections from diamond drill programme assays and we currently await receipt and interpretation of further assay results, mineralogical testing outcomes and an array of further data from additional geophysical interpretations.
“We are seeking a World Class nickel discovery and the findings so far have been extremely positive. It is therefore with some excitement that we announce completion of our US$500,000 earn-in.”
Power Metal also holds 18% of Kalahari Key and taken together its effective economic interest in the MFC Project is 50.8%.