Power Metal Resources plc said the second of four planned drill holes is now complete at its nickel sulphide-platinum group metals (PGM) joint venture project at Molopo Farms Complex in Botswana.
PROGRAMME
Kalahari Key Mineral Exploration Pty Ltd has the majority share in the Molopo project.
The operator drilled hole KKME 1-6 was drilled to a depth of 547m and intersected ultramafic rocks at 27m and continuing to the end of hole.
Power Metal said that preliminary inspection of the core indicated possible cyclic layering within the ultramafics.
Extracted core will undergo logging and samples sent for nickel and PGM assay.
The first drill hole was completed in mid-November, and drilling on the third hole will begin after Christmas.
JOINT VENTURE
Power Metal has an 18.26% stake in Kalahari Key and elected to earn-in to a 40% direct project interest.
On completion, Power Metal will hold 50.96% in the project.