3rd Jul 2020 11:56
(Alliance News) - Power Metal Resources PLC on Friday said a follow-up programme at its Kisinka copper-cobalt project in the Democratic Republic of the Congo has conformed and enlarged anomalous copper areas from prior exploration.
Shares in Power Metal were up 4.6% at 0.50 pence in London, where Power Metals is headquartered.
The pitting and mapping exploration was launches in 2020 after a 6.8 kilometres copper anomaly was found, running north west to south east at Kisinka.
Out of the 24 planned pits, 21 were dug for 174.3 metres of pitting over the 40 day programme. Of the pits, 16 reached target depth, while five were stopped due to water return. Three of the pits were not attempted as a result of wet conditions.
The overburden profile was found to be less than expected, five to 10 metres, with the water table proving higher than expected.
Results from X-ray fluorescence testing of 211 samples has confirmed the copper anomalous zones found in a previous geochemical survey, finding higher values and a wider zone than had initially been detected open to the north west and south east.
Cobalt anomalies were found, more strongly to the north west, with the vertical distribution analysis showing copper and cobalt values increasing downwards. This suggests a leaching process.
Another batch of samples is to be sent for inductively coupled plasma multi-element testing, though this will have to wait until airline routes reopen. While these results will be needed to proceed, Power Metal is expecting that a ground magnetic survey and a ground electromagnetic survey will be recommended.
Chief Executive Paul Johnson said: "The confirmation and in fact enlargement of the copper anomalous areas detected in previous exploration enables us now to go forward with confidence. The laterization and leaching that we encountered support the theory that there may be supergene enriched mineralisation at a lower level, so we particularly want to investigate this.
The presence of cobalt partly correlated with the copper is another positive indication. After confirmation from the [inductively coupled plasma] analysis, which we may extend to include samples from the earlier termite mound sampling, we will release the data on cobalt and copper levels in the anomalies.
"We were able to relate some mineralisation areas to structures and faulting, and to build on that work and generate the best drill targets we will need to carry out some geophysics."
By Anna Farley; [email protected]
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