Power Metal Resources plc said it had encountered nickel enrichment at Molopo Farms Complex nickel-copper-platinum group element (PGE) project in southwest Botswana.
ASSAYS
The results are from further assays received for hole KKME 1-6, the second of three holes at the project.
Nickel enrichment was encountered throughout the entire 7m interval assayed as part of the batch, added the company.
Significant intersections include:
· 4.8m @ 0.2% Ni from 292.7m
· 4.1m @ 0.49% Ni from 309m, including 1.6m @ 0.72% Ni from 309.6m
· 16.7m @ 0.16% Ni from 501.8m
· 10.9m @ 0.13% Ni from 518.2m
· 3.4m @ 0.28% Ni from 594.4m to end of hole at 597.8m (mineralisation remains open at depth)
The results represent the single highest nickel and platinum results, and the second highest gold result to date from the 2020 drilling programme.
MINERALISATION
Power Metal said that the results further demonstrated the potential of Molopo to host “significant nickel-platinum group element (PGE) enriched magmatic sulphide mineralisation”.
Additional samples will be sent for assay testing.
“We have been fortunate to identify the targeted mineralisation so early in the exploration campaign, notably nickel sulphides in the second hole of drilling,” added chief executive Paul Johnson.
Power Metal currently has a 40% direct interest in Molopo as well as an 18% shareholding in partner Kalahari Key Mineral Exploration Pty Ltd, for a combined effective economic interest of 50.8%.