4th May 2023
London-listed exploration company Power Metal Resources (PMR) is upbeat about its discovery of gold deposits near Francistown.
The company recently completed a drilling programme on its 100% owned and operated Tati Project located within the Tati Greenstone Belt near Francistown.
The Chief Executive Officer of PMR, Paul Johnson has announced in the company report that Tati is becoming a significant project for Power Metal with only 175m strike distance of an 8km long gold in soil anomaly drill tested and extensive high-grade gold confirmed from the RC drilling.
“Complementing the extremely exciting gold exploration results we have to note the practical advantages of the Tati Project. The gold mineralisation identified to date is near surface, significantly de-risking any mining proposition,” he said.
Johnson said this exploration and drilling project is centred on the former working gold mine, Cherished Hope, with gold fines dumps available for processing at a local processing site, potentially generating further exploration and development of the project.
He added that the processing site for the fines dumps is located within 20 minutes by road from the project presenting an avenue for processing of gold from the newly discovered mineralised areas, subject to undertaking commercial agreements and local regulatory approvals.
“All told the Tati Project is making major progress, and the company intends to accelerate its activity to undertake RC (Reverse Circulation) drilling to more fully test the very large Au ( gold)-in-soil anomaly, prove up more extensive gold mineralisation and in parallel, develop avenues for future gold production from the project,” he said.
Responding to Sunday Standard questions last week regarding their next exploration journey and its outcomes, Power Metals Resources said a comprehensive programme including both geophysical work and mechanised trenching is currently underway.
“Further sampling is scheduled, and RC and diamond drilling will follow to test the high priority gold targets. The objectives of this programme are to establish the presence of further gold mineralisation than delineated by drilling recently completed,” the company said.
One of the rationales and targets of this next exploration programme contained in the company report, is to extend the already known strike length extension of the main quartz reef structure at the Cherished Hope gold mine within the Project license area.
The quartz reef currently remains open towards the northwest and south east as well as down dip. According to the report, if the main quartz reef is successfully intercepted, the trenching would highlight quartz reef continuity between the historical working at Cherished Hope as well as to the north west and south east of the current 175m strike length extents as defined by the recently completed RC drilling exercise.
Asked when they would be able to finish their exploration exercise, Morries said in the next few months. PMR also has 87.71% interest in the Molopo Farms project. In January 2023, the company completed a drilling programme, and it is awaiting testing results from this campaign.
The Project is targeting nickel (Ni), copper (Cu) and platinum-group-element (PGE) mineralisation within the Molopo Farms Complex (“MFC”) of the Bushveld Large Igneous Province.
Source: https://www.sundaystandard.info/pmr-upbeat-about-its-discovery-of-gold-deposits-near-francistown/
