Skip to Content

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 MiningMaven.com on 30/07/2019. To read it in full, please click here…

Valuethemarkets.com and Dynamic Investor Relations Ltd are not responsible for the content or accuracy of this article.  News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your 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 piece.
  • Daniel Flynn has been paid to produce this piece by the company or companies mentioned above.
  • Dynamic Investor Relations Ltd, the owner of ValueTheMarkets.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.
  • Dynamic Investor Relations Ltd, the owner of ValueTheMarkets.com, has been paid for the production this piece by the company or companies mentioned above.

Related Articles

Headlines

teathers app screenshot

App Empowering Private Investors

Crowd Equity for Placings, IPOs and Live Market Blockbuilds, designed to give provate investors access to placements and Intial Public Offerings (IPOs), predominantly on the London Stock Exchange’s Alternative Investment Market (AIM).