8 December 2023
Since early October, Aim-listed exploration company Power Metal Resources has advanced plans to drill test a key target at T1-14 at its Molopo Farms Complex (MFC) project, in southwestern Botswana, where the company is targeting a district-scale nickel and platinum group element discovery.
The drill testing will be followed by an analysis to determine up to two areas to optimally test this conductor.
“MFC has been, and remains, one of our highest priority exploration opportunities, and one that we remain convinced has the potential to be a significant value driver for Power Metal,” CEO Sean Wade said on December 6.
In October, the company announced that geophysical inversions had led to the identification of the highest priority conductor to date at the project.
Power Metal Resources is now concluding preparations for the planned drill programme and is in the final stages of negotiating and signing a drill contract, with a view to starting drilling operations early in the first quarter of next year.
The identified conductor is very strong, steeply dipping and multi-kilometre in length and importantly is co-incident with the keel of the feeder zone intrusion within the T1-14 target area. Significantly, this conductor is geologically located where one would expect to find accumulations of significant nickel sulphides within a mafic/ultramafic complex, giving the company further confidence in the provenance of this particular conductor.
“Given the amount of data collated over previous exploration campaigns at MFC, our London-based technical team have been working with local advisers to complete a detailed examination of findings to date. The outcome of this work was the confirmation of the highest priority conductor identified to date at MFC.
“It has been important to take the appropriate amount of time and to diligently prepare for what we believe may be a highly significant next round of drilling,” Wade said.
