Power Metal Resources plc is exploring financing to progress its Molopo Farms Complex in southwest Botswana.
INVESTMENT
The company previously drilled hole DDH1-14C which intersected the steeply dipping geophysical superconductor at the high priority target area T1-14.
Power Metal collected eight samples from 828.4m to 832.6m end of hole which remains open at depth.
“Significant sulphur assays of up to 3.46% were identified, alongside one sample which returned anomalous nickel,” said Power Metal.
“This shows that the carbonaceous mudstones are a potential source of sulphur which, if mixed with the ultramafic intrusives of the Molopo Farms Complex, could lead to the formation of nickel sulphide deposits.”
Chief executive Sean Wade added: “As we have always maintained, Molopo Farms is a potential district-scale deposit, and for that to be ascertained, considerable investment needs to be made at this stage to undertake the scale of exploration required.
“The company continues to look at possible solutions to this requirement, which is aided by the extensive exploration data gathered, the potential for discovery and the supportive operating environment for this type of opportunity in Botswana.”