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Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - Completes two ground-based eletromagnetic geophysics surveys at its Molopo Farms Complex project in Botswana. Preliminary results highlight a large shallow dipping magnetic conductor at drillhole K1-6. A planned diamond drill programme's start date has now been brought forward. It will now focus on testing the central and stronger part of this magnetic conductor.
"Today's exploration news is, in my view, potentially one of the more significant the company has released in its 3-year history as Power Metal. We have confirmed that drillhole K1-6 at Molopo Farms, drilled during the 2020/2021 programme, intersected the edge of a very large-scale and strong magnetic conductor. Significantly, drillhole K1-6 highlighted that the edge of the magnetic conductor was mineralised, with widespread nickel sulphides demonstrated from assay testing and follow up petrological analysis," comments Chief Executive Paul Johnson.
Current stock price: 1.01 pence, up 15% in London on Tuesday
12-month change: down 56%
By Heather Rydings; heatherrydings@alliancenews.com
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