Map showing the Molopo Farms Complex
POW has acquired an 18.26% stake in Kalahari Key Mineral Exploration Pty Limited (KKME), a Botswana registered exploration company with a 100% interest in the Molopo Farms Complex Project (MFC) in south west Botswana for a total consideration of US$194,810.
POW elected in December 2019 to earn-in to a 40% direct project interest in the MFC Project, by expending US$500,000 by 31 December 2020 on ground exploration at the Project, expected to include drilling of high priority targets.
Upon completion of the Earn-in expenditure requirement, POW will hold a total economic interest of 50.96% in the MFC Project through its 18.26% shareholding in Kalahari Key and 40% direct interest in the MFC Project and will have representation on the MFC Project operating committee and the Kalahari Key board. View the full announcement here.
In 2014 KKME acquired two mineral exploration licences (PL310/2016 and PL311/2016) from the Botswana Government. The licences cover the eastern and central parts of a shear/feeder zone through the centre of the Bushveld-related Molopo Farms Complex in southern Botswana. A third licence (PL202/2018) was acquired in early 2018 immediately to the south of PL311/2018. In total the MFC covers an area of 2,725sq km.
The primary target for KKME is Ni-Cu-PGM mineralization in the geophysically delineated major ENE-WSW Jwaneng-Makopong Shear/Feeder Zone through the centre of the MFC. KKME’s re-interpretation of the available geophysical data shows that individual lithological units are deformed into laterally continuous lenses parallel to the ENE-WSW strike of the host shear/feeder zone.
A second type of target is massive or disseminated Ni-sulphide deposits at the base of, or within the ultramafic zone of the MFC. Major nickel deposits occur in major structural conduits that link into the roots of large igneous provinces near the edges of old cratons i.e. in similar settings to the shear/feeder zone of the MFC.
KKME has recently undertaken a high-resolution, helicopter-borne electromagnetic and magnetic survey using New Resolution Geophysics’ Xcite System™.
The helicopter-borne electro-magnetic (“EM”) survey over the Molopo Farms Feeder Zone project area identified 17 sub-surface conductor targets and follow up ground EM surveys over 14 of the targets produced at least 5 high priority targets of considerable size and scale for which 8 drill holes have been designed to penetrate all targets.
The targets are highly conductive bodies which could potentially be host to massive nickel sulphides due to the spatial location, particular geological setting and associated magnetic response.
A follow-up ground geophysics programme conducted in 2019 confirmed the EM results and four high priority targets have been selected for drilling in 2020 with eight drill holes planned. Approval of the Environmental Management Plan is awaited prior to commencement of drilling.
Further information in respect of KKME and the MFC Project background is available at the Kalahari Key website: www.kalaharikey.co.uk.
Project: Molopo Farms Complex
Target metals: Nickel - Copper - PGM
Seeking to secure a major metal discovery under sand cover by applying latest technology to identify large scale targets for early drilling
Ground geophysics and EM surveys have identified at least four high priority targets of considerable size and scale for which eight drill holes have been designed to penetrate all targets
15 October 2020