Metals & Minerals News

Power Metal starts second drill hole at Molopo

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.

Next: Power Metal starts the second drill hole targeting NiS and PGMs in Botswana (Power Metal Resources)

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.