Power Metal Resources PLC (AIM:POW) said initial drilling results from its Tati project in Botswana show that it intersected high-grade gold.
Significant near-surface gold mineralisation was intersected in three holes, including a “Bonanza” intersection of 1 metre (m) at 47.17 grammes a tonne (g/t) gold from hole CHRC0003, said the AIM-traded group.
The company is awaiting assay results for the remaining six holes of its recently completed drilling programme.
"The Tati project now covers the formerly producing Cherished Hope gold mine and is within the underexplored Tati Greenstone Belt, where the company is exploring for near surface, high-grade extensions of the Cherished Hope mine,” said chief executive Paul Johnson.
“The successful intersection of high-grade gold in the three holes for which assay results have been received is very exciting, and the bonanza grade gold assay result already identified naturally inspires us to push ahead with further accelerated exploration work.
Highlights from the first three holes include: 1m at 10.20g/t gold; 1m at 5.57 g/t gold; and 3m at 16.77 g/t gold from a depth of 5m from hole CHRC0003.
“Further assay results from the remaining six holes, several of which intersected significant quartz reef intersections (up to 8m thick), are awaited with great interest," said Johnson.