Power Metal Resources plc has identified a third drill target at its 1,723km2 nickel-copper-platinum group element project at Molopo Farms Complex in southwest Botswana.
DE-RISKING
Final analyses of MLEM surveys, which denoted targets T1-6 and T2-3, have also highlighted a “significant ‘jelly-bean’ shaped, geophysical conductor” at target area T1-3.
The company said that the conductor remained open to the east-west and sat within a magnetic trough and may extend to 1.6km in an east-west direction.
Power Metal has given the T1-3 conductor, which has never undergone drilling, the same high-priority ranking as T1-6 and T2-3.
Drilling plans comprise a 450m diamond core drillhole to intersect the T1-3 conductor at approximately 300m downhole depth.
Power Metal added that phase I and II exploration programmes over targets T1-6, T1-14 and T2-3 and T1-3 were now complete.
The conductor at T1-14 is estimated to be at a depth of 650m and associated with complex geology, and therefore has lower priority than the other targets.
Chief executive Paul Johnson said that the company planned to drill all three priority targets in the current programme.
“Our review has also identified further targets which we believe could become additional priority drill targets subject to additional technical work over those areas.
“Each priority conductor identified to date, including T1-6, T1-3 and T2-3, are located proximal to a geological feeder zone but each possess unique size and scale dimensions.
“By drilling all of these targets, the project becomes inherently de-risked, and the prospect of a discovery or discoveries increases.”