Power Metal Resources PLC (AIM:POW) said it intersected near surface gold mineralisation in its inaugural drilling programme on the Tati project in Botswana.
Drilling results included up to 5.17 grammes a tonne of gold (g/t) over 3 metres (m) from a depth of 9m.
"It took a certain boldness for our team to advance the Tati project to the drilling stage so quickly,” said chief executive Paul Johnson.
“However, due to the thin sand cover over most of the project, we felt that gaining knowledge of the underlying geological formations through relatively inexpensive RC [reverse circulation] drilling was crucial in order to better gauge the overall prospectivity of the project.”
A total of seven holes were drilled over a 200m strike length and the London-listed company said the results were “very encouraging”.
Power Metal said it had also applied for a further prospecting licence after it undertook a detailed analysis of the broader Tati Greenstone Belt.
“Significantly, we were able to identify a 1,614-hectare area adjacent to our PL126/2019 licence, and further along strike of a regionally important northwest-southeast trending structure, which contained widespread, strong gold soil anomalism - including several targets of greater than 100ppb gold-in-soil (much stronger than the area tested by the 2021 drilling campaign),” said Johnson.
“By applying the positive drill findings from this early RC programme across the entire project and specifically into this new application area, we have in our view confirmed that the Tati project is a major target for gold discoveries.”