Power Metal finalising technical review of phase 1 Molopo drilling

Power Metal Resources PLC (LON:POW) said planning is underway for the next stage of exploration at the Molopo farms project in Botswana.


The AIM-listed junior currently has a 40% direct MFC Project interest as well as an 18% shareholding in operator Kalahari Key, for a combined effective economic interest of 50.8%.


Paul Johnson, Power Metal’s chief executive, said: “The results to date from the Phase I drill programme at the MFC Project have successfully demonstrated the validity of the geological model developed by our operating partner Kalahari Key, which has led to the discovery of primary nickel-copper and PGE mineralisation.


“The aim of our venture at the MFC project is the discovery of a major nickel deposit, and we have clearly taken a number of important steps forward with recent exploration.


“Now we need to finalise the technical review of the work done thus far, and implement next stage exploration work including a Phase II drill programme.”

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