HomeBase MetalsPower Metal Resources: Molopo Farms Complex Project update

Power Metal Resources: Molopo Farms Complex Project update

Power Metal Resources has announced an exploration update from its Molopo Farms Complex Project where it is targeting a district-scale nickel and platinum group element discovery in southwestern Botswana.

Key findings

  • The previously conducted airborne electromagnetic geophysics surveys flown in 2018, followed up with ground moving loop electromagnetic geophysics surveys completed in 2022, led to the identification of targets subsequently drilled during the 2022/2023 campaign.
  • Target area T1-14 demonstrated the highest potential due to the strength of the super conductor originally identified.
  • Drillhole DDH1-14B from the 2022/2023 drill campaign did not intersect the modelled superconductor. This led the company to engage a geophysicist to complete inversions of widely spaced audio-frequency magnetotelluric survey results from 2020 that was completed over target area T1-14. AMT technology can measure a wider range of conductivities compared to airborne and/or ground EM and to a greater depth.
  • Significantly, this work has led to the identification of two distinct conductors at target area T1-14 (compared to one moderately dipping conductor identified by the MLEM) including a very strong steeply dipping multi-kilometre long conductor which is co-incident with the keel of the feeder zone intrusion. This conductor has the potential to host massive sulphide mineralisation and thus has been deemed a high priority exploration target which has never been drill tested to date.
  • The second conductor identified is relatively flat lying and determined to be sedimentary in origin which led to the false targeting during the previous drilling campaign.
  • The company is working with its technical consultants regarding the implementation of a drill programme at target area T1-14 to test this newly modelled steeply dipping conductor.

Sean Wade, CEO of Power Metal Resources, commented:

“Historical exploration work at Molopo Farms has been multi-year, extensive and necessary to narrow down key targets for exploration drilling within a very large licence footprint. The company is targeting major discoveries and the work completed to date has confirmed that the MFC has the required geological ingredients to host a significant nickel deposit as found in other mafic/ultramafic belts worldwide.

“In exploration, geophysics alone is never enough, and drilling is always necessary to firm up the geological model and confirm economic deposits. As drilling is undertaken, the additional data gathered can, with other exploration techniques, provide a step-change enhancement of the technical understanding of a project and its potential.

“On this basis, the work focussed on target area T1-14 has delivered a superior database and is now the highest priority conductor target, based on all the evidence we have gathered thus far.  We are particularly excited by this development and look forward to updating the market in due course with drilling plans for this target.

“This exploration work, which is currently focussed on target area T1-14, is being conducted in parallel with our ongoing engagement with third parties with regard to commercial avenues for Molopo Farms as previously highlighted.”