Power Metal Resources PLC (LON:POW) said ongoing due diligence work at the Tati gold-nickel project in Botswana indicates substantial mineralisation.
Significant arsenic, nickel and gold-in-soil anomalies were identified from a historical data review and geochemical sampling, mapping and prospecting are now underway to validate the findings.
Paul Johnson, chief executive, said: “The announcement today in respect of our potential fourth project interest in Botswana, the Tati Project, is another significant development with our historical review identifying substantial arsenic, nickel and gold anomalies extending over multi-kilometre lengths within the two licence areas.
“These findings compel us to move quickly with ground exploration work to validate and confirm the data which, if successful, could mean the Tati Project holds considerable potential for large scale gold and nickel discoveries.
Power Metal has an option to acquire a 100% interest in the Tati project.