Power Metal Resources said early results from its drilling programme at Molopo Farms Complex (MFC) in Botswana supported the geophysical model for an intrusion feeder zone which could hold mineralised bodies.
The company said it had so far drilled to a depth of 283 metres at the nickel sulphide and platinum-group metal (PGM) site.
Hole 1 is cased to a depth of 17m with HQ diameter (63.5mm) core drilling to a depth of 150m and NQ diameter (46.7mm) core drilling thereafter.
The drill hole intersected calcretes and serpentinite immediately below the 35m thick Kalahari cover and has then continued through ultramafic rocks, including harzburgite and dunite, which are characteristic of the area’s geology.
The hole is now more than halfway to the upper side of the modelled conductive body (target 1-14) which is expected to commence from a depth of approximately 505m.
Power Metal chief executive Paul Johnson said: “The drilling is progressing well with the results thus far supporting the geophysical model, for an intrusion feeder zone which could host the potentially mineralised conductive bodies we are targeting with this drilling programme.”
Power Metal has an 18.26% share in Kalahari Key Mineral Exploration Pty Ltd and has elected to earn in to a 40% direct interest in the MFC project 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 MFC Project.