Africa-Press – Botswana. 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”
Power Metal Resources PLC (AIM:POW) has provided an update on the Molopo Farms Complex Project, which is targeting a large-scale nickel-copper-platinum group element (PGE) discovery in southwestern Botswana, with drilling expected to start shortly.
In a statement, 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.”
He added: “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.”
On September 8, 2022, the company gave an update regarding progress being made towards its first managed and operated diamond drilling programme at Molopo Farms, noting that a hgh-resolution ground magnetic geophysics (Ground-Mag) survey has been completed over high priority Target 1-6 (T1-6) covering an area of approximately 2,700 metres (m) by 1,600m.
It noted that a strong east-west trending magnetic anomaly was identified near the southern edge of the survey area, with magnetic inversions of this newly identified anomaly showing that the magnetic body intersects the down-dip extent of the southerly dipping EM conductor identified by the previously completed ground-based MLEM survey over T1-6.
As a result of the recently completed geophysics work at T1-6, as well as the extensive 3D analysis and inversion modelling now completed, Power Metal said that two priority drillholes have now been planned for T1-6. The two drill collar sites are now being prepared and cleared in preparation for the programme start.
The two sites selected are:
Diamond core drillhole DDH1-6B: Located 530m directly south of drillhole KKME 1-6 (completed December 2020 1). Planned 600m hole depth, inclined at 80° dip and 0° azimuth (to the north). Based on the 3D modelling completed, DDH1-6B has been planned to intersect the southerly dipping conductor at a relatively shallow depth of 300m.
Diamond core drillhole DDH1-6C: Located 830m directly south drillhole KKME 1-6 1. Planned 650m hole depth, inclined at 80° dip and 0° azimuth (to the north). Based on the 3D modelling completed, DDH1-6C is planned to test the intersection zone between the southerly dipping conductor and the newly identified strongly magnetic E-W trending body, which is estimated to be at a depth of approximately 350m.
Based on 3D modelling of all available geophysical data including the previous AEM survey, the targeted T1-6 EM conductor been estimated to have an approximate strike-length of 2,600m in a broadly East-West (E-W) direction and is estimated to extend for around 1,000m down dip (towards the south).
Power Metal said it is currently preparing a short video that highlights the information and will include a demonstration of the 3D geophysical modelling with the plots of previous drillhole KKME 1-6 and the planned drillholes DDH1-6B and DDH1-6C.
Camp setup and preparation for the upcoming drill programme continues at pace the company said, adding that it will advise the market once drilling has commenced, which is expected shortly.
It pointed out that MLEM surveys are ongoing at target areas T1-3 and T2-3, and MLEM and Ground-Mag surveys are ongoing at target area T1-14, and a further update in regard to this work, as well as survey results, are also expected shortly.
Power Metal currently has a current effective economic interest in Molopo of around 53%, held through a direct project interest and a shareholding in partner Kalahari Key Mineral Exploration (Pty) Ltd (KKME). On May 18, 2022, Power Metal announced a conditional transaction that would see its interest in Molopo Farms increasing to 87.71%.
As part of the transaction, Power Metal will become the project operator and in advance of completion the company is working with the team at KKME to maintain momentum with regard to Project exploration. Workstreams are also in process to secure Botswana regulatory approvals enabling the transaction to complete.
Power Metal Resources is an AIM-listed metals exploration company that finances and manages global resource projects and is seeking large-scale metal discoveries. The company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia. Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.
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