Todays RNS.....DRILLING TO COMMENCE31 Jan 2024 10:51
Power Metal Resources PLC
("Power Metal" or the "Company")
Molopo Farms Complex, Botswana - Drilling Update
Power Metal Resources PLC (AIM:POW), the London listed exploration company with a global project portfolio, announces an update from its Molopo Farms Complex Project ("Molopo Farms" or the "Project" or "MFC") where the Company is targeting a district-scale nickel ("Ni") and platinum group element ("PGE") discovery in southwestern Botswana.
DRILLING UPDATE
In October 2023 Power Metal announced the identification of the highest priority drill target to date within a geophysical conductor identified at Molopo Farms and in December 2023 announced that the Company had advanced plans to drill test this significant target.
The identified conductor is very strong, steeply dipping, multi-kilometre in length and importantly is co-incident with the keel of the feeder zone intrusion within target area T1-14.
Significantly, this conductor is geologically located where one would expect to find accumulations of significant nickel sulphides within a mafic/ultramafic complex, giving the Company further confidence in the provenance of this particular conductor.
The Company is pleased to report that Discovery Drilling Contractors Africa have commenced mobilisation for the planned drilling programme and this mobilisation exercise is underway.
Drilling is expected to commence in the coming days targeting the high priority conductor at target area T1-14. Additional technical details regarding this conductor were released to the market on 6 December 2023 and the relevant announcement can be viewed through the link below:
https://www.londonstockexchange.com/news-article/POW/molopo-farms-complex-botswana-operational-update/16239525
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