Power Metal Resources plc has exercised its option to acquire a 100% interest in two gold-nickel exploration licences within the Tati Greenstone Belt near Francistown, Botswana.
PROSPECTIVE
Chief executive Paul Johnson said that Francistown and its surrounding area had not undergone extensive modern exploration.
“The company’s due diligence review of historic data identified numerous multi kilometre-scale nickel, arsenic and gold anomalies, which are now the subject of an ongoing phase I exploration programme which includes detailed geochemical sampling, mapping and prospecting.
“We consider that the Tati project is highly prospective and has the potential to deliver major gold and nickel discoveries.”
Samples collected are due to be assayed using multi-element analysis and a drill programme is expected to start later in the year.
BOTSWANA
The acquisition of PL126/2019 and PL127/2019, made through its local wholly owned operating subsidiary Power Metal Resources Botswana Pty Ltd, takes Power Metal’s number of projects in Botswana to four.
During 2021, the company aims to start drill programmes across all four projects.
In addition to Tati, Power Metal has a 50-50 interest with Kavango Resources plc at South Ghanzi in the Kalahari copper belt and in Ditau Camp rare earths.
The company also has a 50.8% economic interest in the Molopo Farms Complex project with Kalahari Key Mineral Exploration Pty Ltd targeting nickel-copper sulphide and platinum group element discoveries.
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