Power Metal Resources plc has started an extensive technical review of its two diamond drill holes at the nickel sulphide and platinum group metals (PGM) project at Molopo Farms Complex (MFC) in Botswana.
Site operator Kalahari Key Mineral Exploration Pty Ltd drilled holes KKME 1-14 and 1-6 with initial results showing 4.4 metres of ultramafic rocks with finely disseminated sulphides in angled hole KKME 1-6 at approximately 270m vertical depth. bit.ly/2XwFrPS
Power Metal said that the setting of the sulphide intersection suggested prospectivity for PGMs and base metals.
The core will be split for more detailed examination of the mineralogy before being sent for assay.
Drill hole KKME 1-6 is this week due to deepened from 547 metres to circa 600-650 metres and downhole geophysics field work and interpretation for the two holes drilled to date is expected to be completed by the end of January.
Following the technical review, Kalahari will determine the best locations for the two remaining planned drill holes and specific mineralisation targets.
Power Metal chief executive Paul Johnson said that the Molopo Project drill programme was an immense exercise with more than 1,000 metres of core to examine and process.
The project is operated by Kalahari in which Power Metal currently has an 18.26% share and has elected to earn in to a 40% direct interest by funding $500,000 of exploration by 30 April 2021, notably the diamond drilling of selected targets.
To date Power Metal has paid $192,641 leaving a balance of $307,359 (£230,523) which is fully covered by Power Metal’s cash resources.