RE: RNS30 Aug 2022 08:05
Paul Johnson, Chief Executive Officer of Power Metal Resources commented:
"It has been an incredible effort by the team to put us in the position to launch expedited drilling at Molopo Farms only a matter of weeks after the discovery, through geophysical surveys, of a new and very compelling conductor in target T1-6 located immediately south of previous drillhole K1-6.
The electromagnetic conductor, the edge of which was intersected by previous diamond drillhole K1-6 at a similar stratigraphic level to a broad nickel sulphide mineralisation interval, represents a high-priority target during the upcoming drilling programme.
The potential offered by this drill programme is amply demonstrated by Mindea, the drill contractor, taking a significant portion of the contract costs in Power Metal shares.
Now the real work begins, with the few weeks prior to drilling commencement to be used to undertake the expanded geophysical surveys to confirm precision drill targeting at T1-6, and the follow up surveys at targets T1-14, T1-3 and T2-3. That survey work is underway currently.
Further Molopo drilling updates are expected prior to and following mobilisation, alongside updates in respect of the expanded geophysics drill target generation programme."