Power Metal - Botswana Molopo Farms Complex Update
("Power Metal" or the "Company")
OWNERSHIP STRUCTURE - MOLOPO FARMS COMPLEX PROJECT
Power Metal has an 18.26% shareholding in Kalahari Key and has elected to earn in ("Earn-In") to a 40% direct interest in the
NATURAL FIELD AUDIO MAGNETO TELLURIC SURVEY RESULTS
The Natural Field Audio Magneto Telluric ("NF-AMT") geophysics survey (announced 11 August), has been completed over a selected four of eight high priority targets for nickel-platinum group metals identified by KKME's previous high-resolution airborne electromagnetic ("EM") and ground geophysics.
The NF-AMT technique is used to measure the electrical conductivity of the Earth's subsurface and is an important additional exploration tool in the search for conductive massive sulphide deposits. The method has been successfully utilised in
The processed NF-AMT 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.
The NF-AMT data, which in ideal conditions has the capability to produce CDIs to several kilometres depth, has helped to fine tune the depth and shape of the drill targets, refining the collar positions for the planned drill holes designed to intersect the centres of the first four high priority targets. The NF-AMT data has also shown that these targets appear to continue at depth as well as identifying additional areas for future investigation.
A full analysis of the data will be completed prior to the commencement of drilling.
(1) Essentials of Mineral Exploration and Evaluation -
S. M. Gandhi, B. C. Sarkar - Elsevier, 10 May 2016
"The KKME team have been excited to receive the processed conductivity depth imagery from the recent NF-AMT survey at the
We are looking forward to receiving the full geophysical analysis and report ahead of KKME commencing drilling."
A helicopter-borne high-resolution electromagnetic survey, followed by ground geophysics, and subsequent desktop review, has to-date identified a total of eight high priority targets prospective for nickel - platinum group metals ("PGMs"). The first four high priority targets selected for drill testing have also been surveyed by NF-AMT geophysics, refining the target morphology and refining the parameters for eight drill holes designed to test these targets.
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KKME has completed NF-AMT ground geophysical investigations on four high priority targets for massive nickel sulphide mineralisation in the
The AMT survey was designed to provide a clearer 3D shape to the four EM targets being investigated and allow for further refining of the drill targets as KKME leads up to the drilling programme.
NF-AMT is an electromagnetic geophysical method for inferring the Earth's subsurface electrical conductivity from measurements of natural geomagnetic and geoelectric field variation at the Earth's surface.
The advantage of the Natural Field Audio Magneto Telluric (NFAMT) method is, that in ideal conditions, Conductivity Depth Images (CDIs) can be derived to several kilometres depth.
The CDIs will facilitate the understanding of the geology around the electromagnetic (EM) derived target areas. In addition, the method is not affected by zero-coupled zones and IP effects and can therefore reduce some of the ambiguity associated with large loop EM interpretation.
The NF-AMT survey was undertaken by Spectral Geophysics of
The fieldwork has successfully completed and has shown that all four EM targets are directly associated with NF-AMT conductors with good depth extension and increasing conductivity probably indicative of mineralisation with depth.
The depths of all EM targets were confirmed with the top of a second priority target at about 200m below surface.
All the targets are confirmed as steeply dipping with additional keel-shaped conductors identified to the south of priority targets 1 and 2, that will need follow-up in the near future.
A full analysis of the new data will be completed prior to commencement of drilling.
COMPETENT PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For further information please visit https://www.powermetalresources.com/ or contact:
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+44 (0) 7766 465 617
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SP Angel Corporate Finance (Nomad and Joint Broker)
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+44 (0) 20 3470 0470
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SI Capital Limited (Joint Broker)
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+44 (0) 1483 413 500
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David Cockbill/Jason Robertson
+44 (0) 20 7330 1883
Notes to Editors:
The Company has a global portfolio of project interests including precious metal exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.
The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company's position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.
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