Tati Project - Sampling Confirms Extensive Gold RNS6 Feb 2024 12:29
Tue 06 Feb 2024 07:00
RNS Number : 0837C
Power Metal Resources PLC
06 February 2024
6 February 2024
Power Metal Resources PLC
("Power Metal" or the "Company")
Tati Gold Project, Botswana - Sampling Confirms Extensive Gold
Power Metal Resources PLC (AIM:POW), the London-listed exploration company with a global project portfolio, announces an update from its 100%-owned Tati Gold Project ("Tati" or the "Project"), located on the Tati Greenstone Belt ("TGB") near Francistown, Botswana.
The exploration results herein cover extensive soil sampling undertaken at Tati in 2023, a fundamental step in the exploration process to identify areas with potential gold mineralisation and the discovery of new gold deposits. Specifically at Tati, the work was critical to further demonstrate gold mineralisation continuity within the previously identified 8km-long gold trend within the project boundaries.
HIGHLIGHTS
· 2024 geochemical soil sampling assay results confirm the presence of three significant gold-in-soil geochemical anomalies, proving further continuity within the 8km-long gold trend at Tati.1 The anomalies, including 1) Northwest ("NW") Anomaly, 2) Southwest ("SW") Anomaly and 3) Cherished Hope ("CH") Anomaly, are highlighted in Figure 1 below, with further detail over the CH Anomaly found in the Figure 1 'Inset Map'.
· A total of 446 individual soil samples were taken from four separate grid areas. The main programme goal was to test for additional gold mineralised zones within the 8km-long gold mineralised trend which extends in a northwest-southeast direction through Tati (see black dashed line in Figure 1).
· Of the 446 samples taken, 3 returned greater than 500 parts per billion ("ppb") gold ("Au"), including individual soil sample gold assay results of 568ppb, 831ppb and 1,076ppb Au (equivalent to 1.076 grammes per tonne ("g/t") Au).
· An impressive 29 samples returned 100ppb Au or above, the vast majority of which form part of the CH Anomaly, a now greater than 600m-wide zone which remains open in multiple directions.
· The CH Anomaly represents a significant extension zone trending southwest from the original Cherished Hope historical mine workings where Power Metal in 2022 drilled 3m at 16.77g/t Au from 5m (including 1m at 47.17g/t) in hole CHRC0003 as well as 2m at 23.17g/t from 25m (incl. 1m at 40.63g/t Au) in hole CHRC0006.1,2
· The SW and NW anomalies are located approximately 1,500m and 3,000m from the CH Anomaly respectively. The position of these anomalies shows the potential for a significantly larger anomalous gold-in-soil footprint at Tati subject to further infill sampling work.
· Power Metal continues to push forward commercial discussions regarding the potential for small-scale mining at its Cherished Hope Gold Mine, in parallel with continuing exploration work, further details of which are expected to be announced i
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