In 2019 Power Metal Resources acquired an equity stake in private company Kalahari Key Mineral Exploration Pty Limited (“KKME” or “Kalahari Key”), a Botswana registered exploration company with a 100% interest in the 707.753km2 Molopo Farms Complex Project (“MFC” or the “MFC Project”).
The primary target at MFC is Ni-PGM mineralisation within the major ENE-WSW trending Jwaneng-Makopong shear/feeder zone which extends through the centre of the MFC Project.
Historical drilling at three of the target areas (1-6, 1-14, 1-11) was completed in late 2020 and early 2021. Large intersections of ultramafic rocks were encountered in the three holes drilled and visible magmatic nickel sulphides were identified in one hole. Inspection of drill core confirmed the geological setting of a feeder zone.
On the target K1-6, mineralogical testing confirmed the presence of nickel sulphides, and assay testing showed to 1.69% Ni and encouraging platinum group element (PGE) mineralisation (up to 0.55g/t platinum). In 2022 the Company completed four moving loop electromagnetic (MLEM) surveys over target areas T1-6, T1-14, T2-3, T1-3 in 2022. Four large, untested conductive bodies were identified at all areas tested, and were drill tested. The results from the 2022/2023 drill program, yielded extensive geological information, alongside encouraging results; up to @ 0.81 g/t Pt+Pd+Au & 0.18% Ni from 498.7m in DDH 1-6B.
In early 2024 the company-initiated drilling at K1-14; testing a very strong, steeply dipping and multi-kilometre conductor, co-incident with the keel of the feeder zone intrusion within target area T1-14. These locations are highly prospective targets for massive sulphide mineralisation.
