Power Metal Resources plc has identified a third drill target at its 1,723km2 nickel-copper-platinum group element (PGE) project at Molopo Farms Complex in southwest Botswana.
T1-3
Final analyses of MLEM surveys, which previously denoted targets T1-6 and T2-3 as priorities, have also highlighted a “significant ‘jelly-bean’ shaped, geophysical conductor” at target area T1-3.
The company said that the conductor remained open to the east-west and sat within a magnetic trough and may extend to 1.6km in an east-west direction.
No drilling has ever been completed over this target area.
Power Metal has given the T1-3 conductor the same high-priority (A+) ranking as T1-6 and T2-3.
PLANNED DRILLING
Drill plans comprise a 450m diamond core drillhole, DDH1-3A, to intersect the T1-3 conductor at approximately 300m downhole depth.
Power Metal said that given that T1-3 is 33km southwest to the current drilling at T1-6, the company might drill T1-3 after the two holes at T1-6 and before T2-3.
T1-14
Power Metal added that Phase I and II exploration programmes over targets T1-6, T1-14 and T2-3 and T1-3 are now complete.
The conductor at T1-14 is estimated to be at a depth of 650m and associated with complex geology, and has therefore been given a lower priority (B) than T2-3, T1-6 and T1-3.
DE-RISKING
Chief executive Paul Johnson said that the company planned to drill all three priority targets in the current programme.
“Our review has also identified further targets which we believe could become additional priority drill targets subject to additional technical work over those areas.
“Each priority conductor identified to date, including T1-6, T1-3 and T2-3, are located proximal to a geological feeder zone but each possess 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.”