Extractive Industries

Power Metal identifies visible sulphides in T1-3

Power Metal Resources plc has identified visible sulphides in one of its target areas at the 1,723km2 Molopo Farms Complex nickel-platinum group element project, southwest Botswana.

Figure 2: geophysical interpretation model of priority target area T1-3 and the targeted jelly bean conductor (Power Metal)

DRILL TARGETS

In September 2022, the company began its inaugural drill programme for 2,600m and reported visible sulphides in its first drill hole in target area T1-6.

Power Metal has since expanded drilling to include targets T1-3A and T1-14.

T1-3A

Drillhole DDH1-3 into T1-3A has progressed to 355.66m and drilling continues.

The company identified visible nickel sulphides from initial core review at 327m and also an increase in intensity of visible disseminated sulphide mineralisation within the interval from 348 to 354m.

The presence of nickel sulphides was determined by visual inspection of core followed by analysis utilising a portable X-Ray Fluorescence spectrometer.

Drilling in the hole is continuing to the current planned target depth of approximately 450m.

Following completion, the drilling rig will move to target area T2-3 for the first hole.

T1-14

Power Metal completed drillhole DDH1-14B to a depth of 520m.

Results are expected from a downhole electromagnetic (EM) geophysical survey along with findings from a detailed technical core review.

T1-6

The company completed drill hole DDH1-6B to 650m and sent select samples for analysis.

Drill hole DDH1-6B(2), completed to 300m, aimed to test for the up-dip (shallower) extension of the targeting pyroxenites identified by drill hole KKME1-6.

The drill hole successfully intersected (up-dip) pyroxenites units, with detailed core review currently underway.

Power Metal has also completed a downhole EM geophysics survey at target area T1-6.

Final results along with the geophysical results from target area T1-14 are due in the near term.

IMMENSE

“The Molopo Farms Complex project represents a substantial discovery opportunity, both in terms of size and potential, and I am thrilled to report the presence of the targeted nickel sulphides from the inaugural drillhole into target area T1-3, which is an immense target,” said chief executive Paul Johnson.

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