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Africa|Botswana|Contractor|Copper|Exploration|Gold|Mining|Power|PROJECT|Projects|Resources|Testing|Environmental
Africa|Botswana|Contractor|Copper|Exploration|Gold|Mining|Power|PROJECT|Projects|Resources|Testing|Environmental
africa|botswana|contractor|copper|exploration|gold|mining|power|project|projects|resources|testing|environmental

Power Metals continues to make good progress at its African projects

23rd September 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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In spite of market conditions, Aim-listed Power Metals Resources, headed by Paul Johnson, has continued to make good progress with its exploration projects in Africa as it pursues its key strategic objective of finding large-scale metal discoveries.

In Botswana, the company has an 18.26% stake in Kalahari Key Mineral Exploration (KKME), which owns the Molopo Farms Complex (MFC).

Upon earn-in, which the company can elect by the end of this year, Power will hold a 50.96% effective economic interest in MFC, after spending $500 000 on the project by the end of 2020.

The KKME team has completed a helicopter airborne electromagnetic work, defining 17 subsurface targets and the ground geophysics with 11 loops over 14 targets.

Initial interpretation of the geophysics data identified six top targets and the company now anticipates the final report covering these targets to be available shortly, enabling it to update the market with regard to specific technical findings.

According to Johnson, the number, size and scale of the top targets identified at the MFC project exceeded initial expectations, with further target selection needed.

KKME and POW may consider farm-in or joint venture partners in respect of a larger drill programme at the MFC project, which could enable the full expanded six-target drill programme to proceed.

Next steps will require the full geophysics technical report, which is expected to be received shortly, confirmation of drill targets, completion of environmental approvals, gravity surveys and drill contractor selection and engagement.

In Cameroon, the holds licence interests near to the Nkamouna copper/nickel deposit of Geovic Mining Corporation.

Geovic identified and holds seven lateritic plateaus in its 1 250 km2 permit area, of which Nkamouna and Mada have been explored, and the 4 km by 2 km Nkamouna deposit is the most defined.

Here, Power holds nearly 2 000 km2 of land containing a number of potentially similar plateaus, on which it conducted a preliminary reconnaissance and sampling programme last year but failed to reach the depth at which the target laterised strata might be encountered.

The company undertook a pitting, sampling and mapping programme at the project in June and July and, following initial X-ray fluorescence (XRF) testing, identified anomalous results requiring samples to be sent for laboratory assay analysis.

“We have received the assay results and these are being interpreted at present,” Johnson noted, adding that the samples had confirmed that exploration successfully intersected the distinct laterite profile that was most likely to be mineralised from average depths of 5 m, which is consistent with depths in the mineralised zones at the adjacent Nkamouna project.

Initial XRF results pointed to elevated cobalt grades, a high cobalt to nickel ratio and some presence of precious metals, with the assay results themselves demonstrating lower cobalt readings than within the XRF readings, although at lower grades, a high cobalt to nickel ratio was confirmed.

No material precious metal grades were demonstrated; however, the assay results demonstrated anomalous elevated levels of vanadium and titanium, which was not identified in the XRF results.

In essence, the XRF results indicated cobalt; however, the more reliable assay results confirmed vanadium, which is equally of interest to the company.

Upon completion of the follow-up programme, the company should have a larger data set from which to form material conclusions with regard to the project prospectivity and further medium-term operational development.

In the Democratic Republic of the Congo (DRC), the company identified a 6.8 km copper anomaly running through the heart of its 70%-owned Kisinka copper/cobalt license, as announced in July.

This was a significant step forward for the project and, as a result, further exploration is planned and details would be announced to the market in due course, Johnson reiterated.

Also in the DRC, the company's technical team is progressing well with the due diligence ground operational programme in respect of the PR 13479, a licence prospective for cobalt and copper to the north and east of the Tondo cobalt-copper mine.

The company has an option to acquire a 70% interest in the licence subject to due diligence. 

Due diligence work has included the completion of 400 termite mound samples and the completion of one trench in an area believed to contain higher-grade mineralisation, with results expected to be subject to XRF testing shortly.

A further update would be provided to the market should the company decide to proceed with option exercise, Johnson said.

Moving on to Tanzania, where the company has acquired a 25% holding in the Haneti nickel project, held in joint venture with Katoro Gold, Power Metals has the right to increase its shareholding to 35% through a payment of £25 000 by May 15, 2020.

Power Metals also holds ten-million Katoro shares representing 5.9% of Katoro's issued share capital.

In addition, Power also holds ten-million warrants in Katoro exercisable at 1.25p.

The company recently participated in operational discussions with Katoro in respect of the upcoming drill programme to be undertaken over the two principal drill targets at Haneti at the heart of what is considered to be an 80 km potential mineralised strike.

The targets identified have been selected following years of preparatory work and the company confirmed that it was “keen to implement” with its joint venture partners a programme that rapidly establishes the presence of sulphides and if confirmed, nickel sulphide, which it hopes would be economically mineable.

Power is working with Katoro to finalise and implement the first drill programme over the opportunity, which offers prospectivity for many other metals within the target zones.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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