30th Dec 2020 21:08
Power Metal Resources PLC- metal exploration and development company - Drilling now underway at the Haneti nickel project in Tanzania. Power Metal holds a 35% interest in Haneti, where 2,000 metres of rotary air blast drilling is planned over 50 holes to around 40 metres depth per hole, while the remaining 65% interest is held by gold and nickel exploration and development firm Katoro Gold PLC.
Power Metal Chief Executive Paul Johnson: "The project is prospective for both nickel sulphide and [platinum group metals] mineralisation and the targets form part of an 80 kilometres long ultramafic rock complex that we believe has the potential to deliver a large-scale metal discovery.
"With Haneti a discovery can only be achieved through drilling and we are particularly excited to see this drilling programme now fully underway."
Current stock price: Power Metal 2.88 pence; Katoro 2.21p
Year-to-date change: Power Metal up from 0.38p at 2019 end; Katoro up from 0.90p
By Anna Farley; [email protected]
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