Extractive Industries

Power Metal notes 175m mineralisation at Tati

Power Metal Resources plc reported further high gold grades and 175 metres continuity of gold mineralisation in its final assays from the drilling programme at Tati near Francistown, Botswana.

Advantages: gold mineralisation identified to date is near surface and significantly de-risks any mining proposition (Power Metal)

RESULTS

The results, from six remaining holes, follow last week’s positive results from the first three drill holes of the nine-hole reverse circulation (RC) programme on PL049/2022.

The company today said it had intersected “significant near-surface dolerite and quartz reef hosted gold mineralisation” in five of the six remaining holes.

Key down-hole intersections (>1g/t Au) include:

Hole CHRC0004

– 1m @ 1.36 g/t Au from surface
– 2m @ 1.81 g/t Au from 2m
– 1m @ 1.56 g/t Au from 5m
– 1m @ 2.53 g/t Au from 36m

Hole CHRC0006

– 2m @ 23.17 g/t Au from 25m, including
– 1m @ 40.63 g/t Au from 26m

Hole CHRC0007

– 1m @ 4.80 g/t Au from 1m
– 2m @ 6.59 g/t from 5m, including
– 1m @ 11.27g/t Au
– 1m @ 1.55 g/t from 13m
– 1m @ 11.16g/t from 54m

Hole CHRC0009

– 2m @ 2.11 g/t Au from 49m

8KM ANOMALY

Power Metal added that the drilling area lay along a major northwest-southeast oriented regional shear thought to be the control of gold mineralisation observed within the area.

“Along this major regional shear is a coincident Au-in-soil anomaly that extends for a strike distance of approximately 8km, and which is located entirely within the 100%-owned Tati project.”

Chief executive Paul Johnson said that the gold mineralisation identified to date was near surface, significantly de-risking any mining proposition and reflecting the practical advantages of the Tati project.

GOLD FINES DUMPS

The project is also on the former working gold mine, Cherished Hope, with gold fines dumps available for processing 20 minutes by road at a processing site, potentially generating revenue for further exploration and development.

“All told the Tati project is making major progress and the company intends to accelerate its activity to undertake RC drilling to more fully test the very large Au-in-soil anomaly, prove up more extensive gold mineralisation and in parallel develop avenues for future gold production from the project.”

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