Power Metal Resources has completed the first hole of its latest drilling campaign at its 100% owned Molopo Farms project in southwestern Botswana, reporting early signs of nickel mineralisation as it hunts for a district-scale discovery.
The AIM-listed explorer said hole 1-9, drilled to a depth of 382 metres, intersected disseminated suspected nickel mineralisation within a leuconorite band between 243 and 269 metres downhole. Samples from that interval are now being assayed, with results to be announced once received, analysed and verified.
The hole is the first of a previously announced 1,600-metre core drilling programme targeting five high-interest geological and geophysical targets along the eastern feeder zone to the Molopo Farms Igneous Complex.
The revised approach is testing the controlling structure and feeder dykes to the complex, where the company is chasing a nickel and platinum group element find. Drilling continues on the remaining targets and may be optimised as further data is gathered.
Chief executive Sean Wade said the intersection of suspected nickel mineralisation was an encouraging early sign that the company’s revised targeting was testing the right ground, and reinforced its belief that a district-scale discovery remains within reach.
Sean Wade, Chief Executive Officer of Power Metal Resources, said: “I am delighted to report the completion of the first hole of our current drilling campaign at Molopo Farms, and particularly the intersection of suspected nickel mineralisation within the target structure.
“While we await the results of sampling and assaying, this is an encouraging early indication that our revised targeting approach, focused on the controlling structure and feeder dykes to the Complex, is testing the right ground. It reinforces our belief that a district-scale discovery remains within our reach.
“I look forward to updating shareholders as assay results are received and as the programme progresses.”