(Alliance News) - Mining company Kavango Resources PLC and metals exploration company Power Metal Resources PLC announced on Tuesday they started drilling at the i10 target at the Ditau Camp project in Botswana.
The project is a 50/50 joint-venture partnership between the two London-based companies.
The companies announced a plan to drill up to six 400 metre diamond core holes in the Ditau drill campaign. Drilling operations started last week Friday, the companies said.
"The i10 Target is marked by a discrete, circular, geophysical anomaly that is 2.2 kilometres in diameter and under an estimated 120 metres of sand cover," Power Metal explained.
Kavango shares were down 5.8% at 2.83 pence each in London on Tuesday afternoon while Power Metal shares were up 0.4% at 1.31p each.
By Tom Budszus; tombudszus@alliancenews.com
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Kavango Resources (KAV)
Power Metal (POW)