4th Jan 2021 16:21
Power Metal Resources PLC - metal exploration and development company - Says first stage of orientation works including geophysical and geochemical surveys at the Ditau project in Botswana is now complete. Says follow-up surveys planned for mid-January, with soil sampling and survey results expected by early February.
The Ditau project is jointly-owned by Power Metal and peer Kavango Resources PLC.
"Drill cores from our 2019 campaign confirmed the presence of highly altered Karoo sediments, sitting above a mafic intrusive body. The alteration extended to depths of over 300 metres. Our job is now to confirm whether or not the ring structures contain carbonatite, and if so, evaluate them for valuable minerals. Once we have calibrated our equipment based on the results from the I10 anomaly, we will survey the remaining 9 ring structures to identify potential drill targets. Thanks to the knowledge base we have built up at Ditau, the next phase of exploration should be relatively straightforward and quick to implement," says Kavango Chief Executive Michael Foster.
Power Metal stock price: 2.90 pence
Year-to-date change: up 5.5%
Kavango stock price: 2.79p
Year-to-date change: down 0.4%
By Ife Taiwo; [email protected]
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