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Power Metal Resources discovers new geochemical anomaly in Botswana while exploring Morula Target
StockMarketWire.com
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Metals exploration and development company Power Metal Resources has reported 'encouraging' results from further geochemical soil sampling and geological mapping on the Morula Target at the South Ghanzi Project located in the Kalahari Copper Belt, Botswana.
In its exploration update, the company confirmed that a total of 150km of soil sampling lines have now been completed over South Ghanzi's Acacia and Morula targets, with the Morula Target geochemical anomaly now over 18km long, up from 12km previously announced on 21 June 2021, and varying between 800m and 2.4km in width.
It reported that the geochemical anomaly remains open along strike in both directions towards the northeast and southwest.
In addition, a third sub-parallel geochemical anomaly has been identified immediately to the south of the Morula Target which is approximately 5km long and approximately 700m wide, and has been named Happy.
Power Metal Resources chief executive Paul Johnson said: 'The current 18km length of the Morula Target is dramatic, particularly as the target remains open in both directions. Alongside this the discovery of a further geochemical anomaly named "Happy", is another surprising and positive development at South Ghanzi.
'What is also encouraging is that we are seeing strong coincidence between the copper-zinc geochemical anomalism with previously defined airborne electromagnetic (AEM) conductors.'
He said that work on the project will continue, with a key focus on ground geophysics to help define drill targets, which it plans to drill test subject to approval of the Environmental Management Plan.
Johnson added: 'Whilst the drill programme is the critical step to determine the tenor of mineralisation below the surface at South Ghanzi, the strength of exploration data that has been acquired thus far demonstrates that the project holds major discovery potential for sedimentary hosted copper-silver mineralisation.' At 3:03pm: (LON:POW) share price was 0p at 1.9p
Story provided by StockMarketWire.com
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