Molopo update earlier15 Sep 2022 16:14
https://www.investegate.co.uk/power-metal--pow-/rns/molopo-farms-complex---geophysics---drill-update/202209151022256031Z/
Geophysics and Drilling Update
Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update in relation to the Molopo Farms Complex Project ("Molopo Farms" or the "Project") targeting a large scale nickel-copper-platinum group element ("PGE") discovery in southwestern Botswana.
On 8 September 2022 the Company announced an update regarding progress being made towards the first Power Metal managed and operated diamond drilling programme at Molopo Farms. The link to this announcement is below:
https://www.londonstockexchange.com/news-article/POW/mfc-project-update-drill-programme-mobilisation/15621071
HIGHLIGHTS
§ High-resolution ground magnetic geophysics ("Ground-Mag") survey completed over high priority Target 1-6 ("T1-6").
§ Three dimensional ("3D") inversion modelling of Ground-Mag data and all other available geophysical datasets covering the T1-6 electromagnetic ("EM") conductor, also completed.
§ Interpretation of historical airborne electromagnetic ("AEM") survey data with recently collected moving-loop EM ("MLEM") geophysics results, estimates the T1-6 conductor has an approximate strike length of 2,600m and an estimated down dip extent of 1,000m.
§ Diamond core drillhole parameters for the first two planned holes at T1-6 have now been established, with the two drill collar sites under preparation and drilling expected to commence shortly.
§ MLEM surveys are ongoing at additional target areas T1-3 and T2-3, and MLEM and Ground-Mag surveys are ongoing at target area T1-14, with further updates to follow shortly.
Paul Johnson, Chief Executive Officer of Power Metal Resources commented:
"Our work at Molopo Farms is gathering pace with the parameters for the first two diamond core drillholes into Target 1-6 now confirmed. With the drill rig now on-site we expect to start drilling the first priority target hole shortly.
Significantly, based on recently completed 3D geophysical modelling the strike-length of the priority conductor at T1-6 is interpreted to be 2,600m, a considerable target.
We are working closely with the team in Botswana who have done an incredible job thus far. It is less than a month since the initial geophysical survey findings at T1-6 that inspired this acceleration to drilling and I look forward to providing further progress updates.