Power Metal Resources plc has started drilling the first of four planned holes for nickel sulphide and platinum-group metal (PGM) mineralisation at Molopo Farms Complex (MFC), Botswana.
The Phase 1 drilling programme is for an initial planned 2,505m across four diamond core drill holes. Planned target hole depths vary from 525m to 710m.
Hole 1 is expected to intersect the first of an initial four “high priority targets” prospective for “massive nickel sulphide mineralisation”.
Drilling and hole casing is commencing with a rotary tri-cone drill bit through the Kalahari sand cover before changing to a diamond core drill bit at HQ and NQ core diameters for drilling through the host lithologies.
The project operator is Kalahari Key Mineral Exploration Pty Ltd in which Power Metal has an 18.26% share.
Power Metal has also elected to earn in to a 40% direct interest by funding $500,000 of exploration expenditure in 2020, notably the diamond drilling of selected targets.
The $500,000 cost is fully funded and covered by Power Metal’s existing cash resources.
On completion of the earn-in, the miner is expected to have a 50.96% interest in the project.
Power Metal chief executive Paul Johnson said that the drilling was the culmination of a great deal of technical work and studies undertaken by KKME including a helicopter magnetics and electromagnetics survey and targeted ground geophysics surveys.
“The technical work is being overseen by a respected independent geological consultancy who have good experience of working on this style of target mineralisation and within Botswana.”