Power Metal Resources PLC (LON:POW) said a natural field audio magneto telluric (NFAMT) survey has been completed at the Molopo Farms Complex project in Botswana, which is 40% owned by Kalahari Key Mineral Exploration (KKME), in which the company holds an 18.26% holding.
The AIM-listed firm said the NFAMT survey has covered a selected four of eight high priority targets for nickel-platinum group metals which were identified in previous high-resolution airborne electromagnetic and ground geophysics.
Power Metal added that the survey results have produced “high quality Conductivity Depth Images (CDIs) which correlate, confirm and reinforce the results of the previous ground EM geophysics, highlighting significant depth extensions and increasing conductivity interpreted to be indicative of mineralisation with depth”.
As a result, the firm said the NFAMT data has helped to fine tune the depth and shape of drill targets, refine their collar positions for planned drill holes which are designed to intersect the centres of the first four high priority targets. The data has also shown the targets appear to continue at depth as well as identifying additional areas for future investigation.
“The KKME team have been excited to receive the processed conductivity depth imagery from the recent NFAMT survey at the Molopo Farms Complex Project in south-eastern Botswana. These results show very good correlation to both the ground and high-resolution airborne EM results, adding significant resolution to the depth, size and shape for prospective massive nickel sulphide targets”, said Power Metal chief executive Paul Johnson.
“Moreover, the results show increasing conductivity with depth, possibly relating to an increase in the tenor of possible mineralisation with depth. We are looking forward to receiving the full geophysical analysis and report ahead of KKME commencing drilling”, he added.
The company’s shares were 2.1% lower at 1.2p in mid-morning trading on Thursday.