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IN BRIEF: Power Metal Resources Encouraged By Drilling At Molopo

Mon, 22nd Feb 2021 19:07

Power Metal Resources PLC - metal exploration and development company - Gives update on Kalahari Key Mineral Exploration Pty Ltd and Molopo Farms Complex Project, targeting nickel sulphide and platinum-group metal mineralisation in Botswana. The second diamond drill hole at the MFC Project, KKME 1-6, has been continued from 547 metres to a final depth of 598 metres in ultramafic rocks. The extra hole depth will provide further core from the geophysical target depth and will assist in further geophysical interpretation, it says. Report received from Aster Funds Ltd has identified about 14 new targets in the feeder zone, with priority targets recommended to be ranked for follow-up ground exploration.

"Identification of additional visible sulphides deeper in hole KKME 1-6 gives further encouraging signals to the prospect of discovering significant mineralisation within the Molopo Farms Complex," says Chief Executive Officer Paul Johnson. "Substantial new data continues to be generated on a relatively untested environment, advancing a journey of discovery in a geological setting where there is the clear potential for large scale metal deposits."

Current stock price: 2.78 pence

Year-to-date change: up 1.1%

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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