Power Metal quickens to drill strong Molopo conductor

Power Metal Resources plc will bring forward its 2022 diamond drill programme after it identified a large magnetic conductor at its nickel-copper-platinum group element (PGE) project at Molopo Farms Complex, southwest Botswana.

MAGNETIC CONDUCTOR

The company completed two ground-based electromagnetic (EM) geophysics surveys, over areas hosting 2020-2021 diamond drillholes KKME 1-14 (K1-14) and KKME 1-6 (K1-6).

Power Metal said that preliminary survey results highlighted a large, shallow dipping magnetic conductor of some 800m and open at depth at drillhole K1-6.

The drillhole intersected the edge of the newly identified magnetic conductor at a similar stratigraphic level to nickel-sulphide mineralisation, averaging 7.0m @ 0.443% Ni from 445m, including 0.6m @ 1.69% Ni, 0.55g/t Pt & 0.14g/t Au from 446.7m downhole.

The company will bring forward its planned 2022 diamond drill programme to drill six drillholes for 2,600m, focusing on testing the central and stronger part of the magnetic conductor.

COMPELLING

Chief executive Paul Johnson added that drillhole K1-6 highlighted the mineralised edge of the magnetic conductor, with widespread nickel sulphides demonstrated from assays and petrological analysis.

“As a result of the findings, multiple drillholes planned for the 2022 programme will target the centre of the magnetic conductor where we believe there is the potential for a more strongly mineralised system where the conductive response is considerably stronger and larger.

“The EM survey over K1-6 captured 800m of magnetic conductor length where it remains open at depth.

“The magnetic conductor is also shallow dipping and expands in magnitude and size at depth based on the preliminary processed survey images we hold at present.

“As a result we believe we have a compelling reason to accelerate drilling at Molopo Farms and are working in order to achieve that.”

MOLOPO

Power Metal has circa 53% effective economic interest in Molopo, held through a direct project interest and a shareholding in joint venture partner Kalahari Key Mineral Exploration Pty Ltd, with a conditional deal to increase its holding to 87.71%.