Power Metal Resources plc has started its inaugural 1,000 metre diamond drill programme on the nickel-copper-cobalt-platinum group element (PGE) joint venture (JV) Haneti project in central Tanzania.
PROGRAMME
The JV, comprising Power Metal (35%) and Katoro Gold plc (65%), renewed the Haneti licences for a further seven years before the start of drilling.
The programme comprises three deep diamond core targeting magmatic nickel, copper, cobalt and PGE sulphide mineralisation.
The planned drill holes are designed to provide a full intersection through the various ultramafic sequences to produce fresh rock samples for detailed geochemical and petrographic analysis.
TARGETS
Two diamond core holes of 264m and 241m are planned at the Mwaka target to test two discrete high-priority conductors identified during a 2012 electromagnetic (EM) geophysics survey.
The JV also plans a single 495m deep diamond core drill hole at the Mihanza target where a shallow rotary air blast (RAB) drill programme completed in early 2021 confirmed near-surface nickel-copper-PGE sulphide mineralisation.
TRANSFORMATIONAL
Chief executive Paul Johnson said that the operational team had battled challenging weather to mobilise safely the rig and crew to site, establish an operational camp and start drilling.
“This is a great day, one that has been years in the making, as we commence inaugural diamond drilling at the Haneti project.
“Haneti represents a district scale opportunity and we hope that drilling will unlock further value from the project enabling our technical team to better understand the various geological environments.
“Ultimately, a discovery of the metals targeted could be transformational for Power Metal and our partners Katoro.”