Power Metal Resources PLC (AIM:POW) has released results from its recently completed drilling programme on the 100%-owned and operated Tati project, located within the Tati Greenstone Belt near Francistown, Botswana.
Assay results from the first three holes, which included the bonanza intercept one metre of 47.1 grams per tonne from six metres downhole depth, were previously announced to the market on 3 November 2022.
"Tati is becoming a significant project for Power Metal - with only 175 metres strike distance of an eight kilometre long gold-in-soil anomaly drill tested and extensive high-grade gold confirmed from the RC drilling,” said Paul Johnson, chief executive of Power Metal Resources, in a statement.
“Naturally the 47.1 grams per tonne gold and 40.6 grams per tonne grades peak excitement, which they should, however more important is the continuity of gold mineralisation over the 175-metre strike drill tested thus far, which bodes well for the significant amount of the anomaly yet to be tested. That drill testing is now a priority for Power Metal.”
The gold mineralisation identified to date at Tati is near surface, significantly de-risking any mining proposition. What’s more, the project is centred on the former working gold mine, Cherished Hope, with gold fines dumps available for processing at a local processing site, potentially generating revenue for further exploration and development.
The processing site for the fines dumps is located within 20 minutes by road from the project, and clearly also presents an avenue for processing of gold from the newly discovered mineralised areas, subject to undertaking commercial agreements and local regulatory approvals.
“All told the Tati project is making major progress,” continued Johnson, “and the company intends to accelerate its activity to undertake RC drilling to more fully test the very large gold-in-soil anomaly, prove up more extensive gold mineralisation and in parallel develop avenues for future gold production from the project."
A total of nine reverse circulation holes totalling 490 metres were completed at Tati as part of the August 2022 exploration programme, the first ever known drilling programme carried out on prospecting licence 049/2022.
Of the nine, eight returned meaningful gold grades.