Power Metal Resources PLC (AIM:POW) has completed its latest round of drilling at the Haneti project in Tanzania.
A total of 900.04 metres was completed across three drill holes as planned.
Core logging and sampling is underway, with samples being prepared for thin section petrographic analysis and laboratory assay testing.
Large intersections of serpentinite and gabbroic rocks were identified in two holes.
"This drill programme was safely executed and delivered on schedule and within budget,” said Power Metals chief executive Paul Johnson.
“Now that the physical drilling has been completed we move into the core logging, sampling and testing phase, and clearly there are various elements to this. We are cautious with early interpretations until the core logging and testing is complete. What we can say is that we have seen thick sections of ultramafic rocks and have postulated that the anticipated geological model has been demonstrated from the core recovered.”
The Haneti project is held under a joint venture with Katoro Gold PLC (AIM:KAT).
Power Metal holds 35% and Katoro holds 65%.