Power Metal Resources (POW) has reported “very encouraging” results from its inaugural drilling programme on the Tati Project located within the Tati Greenstone Belt in Botswana.
The exploration company, which has now completed the drill programme safely and on-budget, intersected near surface gold mineralisation, including shallow depth reverse circulation ("RC") drilling results of up to 5.17g/t gold ("Au") over 3m from 9m downhole.
Going forward, Power Metal Resources believes the results achieved will allow it to continue its exploration of the project.
A northwest-southeast oriented quartz reef was intersected in multiple drillholes over a combined strike length of 200m along a 2,000m Au-in-soil anomaly which was discovered by Power Metal Resources during a Phase I geochemical survey completed over PL126/2019.
The discovered Au-in-soil anomaly is coincident with a prominent northeast-southwest oriented structure which extends for at least 14km to the nearby Monarch Gold Mine.
Drillholes intersected a modest to shallow dipping quartzite unit with variable gold grades including highlight results up to 3m of 5.17g/t Au. Meanwhile, the drill results highlighted the down dip extent of the quartzite, which remains open at depth and along strike, it noted.
Power Metal was also able to obtain historically geochemical data collected over the ground, which showed a larger and higher-tenor Au-in-soil anomaly than the previously targeted area.
Specifically, it was able to identify a 1614-hectare area adjacent to its PL126/2019 licence, and further along strike of a regionally important northwest-southeast trending structure, which contained “widespread, strong gold soil anomalism - including several targets of greater than 100ppb gold-in-soil, much stronger than the area tested by the 2021 drilling campaign.”
As a result, a Prospecting Licence application was lodged with the Botswana Department of Mines ("DOM"). The Company said it is currently waiting for the results of this PL application.
Commenting on this morning’s news, Paul Johnson, CEO of Power Metal Resources: informed investors: "It took a certain boldness for our team to advance the Tati Project to the drilling stage so quickly. However, due to the thin sand cover over most of the Project, we felt that gaining knowledge of the underlying geological formations through relatively inexpensive RC drilling was crucial in order to better gauge the overall prospectivity of the Project.”
He explained: “The RC drillholes completed within PL126/2019 targeted a relatively small area within a much broader gold-in-soil anomaly. Our main goal was to better understand how the geochemical anomaly correlated with the thinly blanketed geological formations.”
“Whilst our main programme goals were to gain a better understanding of the subsurface geology over the Project, we were encouraged to obtain near surface gold including results of up to 5.17g/t Au over 3m from a shallow depth of only 9m. Importantly, these results were achieved from only a small area tested within a much larger geochemical anomaly,” he said.
Johnson added that by applying the positive drill findings from Power Metal’s earlier RC programme across the entire Project and specifically into this new application area, the company has, in its view, confirmed that Tati Project is “a major target for gold discoveries.”
As a result, the company said it is seeking to accelerate its work on this “exciting” project.
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