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Power Metal Resources advances following strong exploration progress at Botswana investment (POW)

Power Metal Resources (LSE:POW) inched up to 0.54p on Tuesday afterupdating investors on the strong ground operation progress being made at the Molopo Farms Complex (MFC) project in Botswana. 

The business said that Kalahari Key, owner of the nickel, copper, and platinum group metals project, has largely completed ground geophysics work to identify priority drill targets for the next stage of an exploration. The work follows a high-resolution EM and magnetic survey completed in May last year that identified 17 conductor targets within the project’s feeder/shear zone.

Kalahari Key expects to complete its ground geophysics work by early August, with results interpretation expected to commence shortly thereafter. A full update will be provided to the market detailing the outcome of the ground geophysics and the priority drill targets upon completion.

Power Metal’s exposure and interest in MFC comes through its 18.26pc position in Kalahari Key. The business also has the right by 31 December this year to earn-in to a 40pc direct interest in the project by committing to spending $500,000 on its development by 31 December 2020. If it chooses to exercise this option, then it will hold a 50.96pc effective economic interest in MFC.

This piece was first published on our sister site on 30/07/2019. To read it in full, please click here…, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

  • Daniel Flynn does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.
  • Daniel Flynn has been paid to produce this piece by the company or companies mentioned above.
  • Digitonic Ltd, the owner of, currently holds a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.
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