Power Metal Resources plc has started the second diamond drill hole targeting nickel sulphide and platinum-group metals (PGM) at the Molopo Farms Complex (MFC) in Botswana.
The company announced three days ago that it had finished drilling the first hole to a target depth of 520m with near 100% core recovery. bit.ly/3kXkQOd
Diamond drilling of the second hole (KKME 1-6) is part of the planned 2,505 metre four-hole programme and began yesterday (19 November).
Hole KKME 1-6 is inclined at 60 degrees and has a planned down-hole target depth of 500m.
Chief executive Paul Johnson said: “This hole is designed to test Target 1-6, a conductive geophysical body within the Tshepo (Hope) central target area, approximately 20km WSW of the previous hole KKME 1-14, which is located in the project’s Chipo (Gift) northern target area.”
The project is owned by Kalahari Key Mineral Exploration Pty Ltd in which Power Metal has an 18.26% shareholding and has elected to earn in to a 40% direct interest by funding $500,000 of exploration expenditure in 2020, notably the diamond drilling of selected targets.
On completion of the earn-in Power Metal will have an effective economic interest of 50.96% in the project.