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Power Metal Resources says first hole drilled at Molopo Farms


Power Metal Resources PLC (LON:POW) said the first hole of a new drilling campaign at the Molopo Farms (MFC) project in Botswana has been completed.

The hole, KKME 1-14 and the first of four in the current programme achieved a depth of 520 metres with near 100% core recovery and confirmed that the geology at the MFC Project is that of a feeder zone.

Paul Johnson, Power Metal Resources’ chief executive, said the drill programme at the nickel sulphide and platinum-group metal project had got off to a great start.

“We have some important work to undertake utilising the core from which includes field-based core review and sample preparation for assay testing.

“Whilst the analysis of the core and downhole geophysics is being carried out at KKME 1-14, and to keep the programme running efficiently, we will now move the drill rig to the second hole location where drilling is expected to commence imminently.”

Power Metal currently has an 18.26% shareholding in Kalahari Key, the operator at MFC, and has elected to earn in a 40% direct interest in the project by funding US$500,000 of exploration expenditure in 2020, 

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