The Tati Greenstone Belt was the site of southern Africa’s first gold rush
Power Metal Resources PLC (AIM:POW, FRA:2M5) (ASX:PWW) said it has identified substantial nickel and gold exploration targets following a soil sampling programme at its Tati project in Botswana. A total of 1,107 soil samples and 49 rock samples were collected across five grid areas as part of the Phase I programme. The findings were based on 727 soil samples from grids 2 to 5, which were analysed using portable field X-Ray Fluorescence equipment (XRF). Soil samples from grid 1 and the 49 rock samples are undergoing fire assay analysis testing for gold in Perth, Australia.
“The Tati Project is potentially a game changing opportunity for Power Metal,” said chief executive Paul Johnson.
“The Tati Greenstone Belt was the site of southern Africa’s first gold rush, but since then its nickel and gold potential has been under-explored.”
“Results from the XRF analysis of the geochemical samples collected as part of the Phase I work programme have delivered multiple large-scale anomalies with notably strong nickel and arsenic-in-soil anomalies. It is now confirmed that we have substantial nickel and gold exploration targets emerging and we are following the pathway needed to make major discoveries.”
Arsenic is a pathfinder element for gold deposits in the Tati Greenstone belt.
“We are awaiting gold-in-soil assay results from grid 1, as XRF is not a reliable tool for measuring gold values in the context of this project. We expect those results in the near future,” Johnson added.
Power Metal exercised its option to acquire a 100% interest in the project last month.