Power Metal Resources PLC (AIM:POW) has announced a third major drill target at the Molopo Farms Complex project in Botswana.
Analysis of an electromagnetic survey over the T1-3 target highlighted a significant 'jelly-bean' shaped geophysical conductor at the target area, said the statement.
A 450m diamond core drill hole, DDH1-3A, has been designed to intersect the T1-3 conductor at approximately 300m downhole depth.
"Considering the proximity of T1-3 to ongoing drilling at one major conductor target, T1-6 (33km southwest), it is possible that T1-3 will be drilled after holes DDH1-6B and DDH1-6C complete, with drilling at the final conductor T2-3 to follow," Power Metal said.
Paul Johnson, chief executive, added: "The inventory of high priority A+ ranked drill targets at Molopo are building and we now have the third, T1-3, added to the list. We plan to drill all three high-priority targets during the current drill programme.
"Each priority conductor identified to date, including T1-6, T1-3 and T2-3, are located proximal to a geological feeder zone but each possesses unique size and scale dimensions.
"By drilling all of these targets, the project becomes inherently de-risked, and the prospect of a discovery or discoveries increases.”