Tati Greenstone Belt

Power Metal Resources has a 100% interest in three prospecting licences which form the 91.14km² Tati gold Project (“Tati” or “Tati Project”) where the Company is targeting gold and nickel discoveries.

Power Metal Resources has a 100% interest in three prospecting licences which form the 91.14km² Tati gold Project (“Tati” or “Tati Project”) where the Company is targeting gold and nickel discoveries.

Tati is a Greenstone hosted gold Project, with the potential for magmatic Ni-Cu-PGE showings. The Project contains several untested arsenic and gold in-soil anomalies, as well as historical and artisanal gold mine workings.

Tati project is located in heart of the Tati Greenstone Belt (“TGB”), in the vicinity of Francistown, adjacent to the Zimbabwe border, in northeastern Botswana.

With a total strike length of 65km and up to 20km in width the TGB hosts a large number of orogenic style gold deposits and several economically significant intrusive magmatic Ni-Cu-PGE rich sulphide deposits.

On Power Metal’s licence, multiple prospective features are present including;

• A significant mineralised ‘quartz reef’ structure which has been intersected by drilling over a~175m strike-length.
• Multiple historical Au-in-soil anomalies with individual results up to 2,150ppb (2.15g/t). Follow up sampling confirmed two significant gold-insoil geochemical anomalies and continuity within the 8km gold trend at Tati
• A regional scale shear structure crosses the Project. Greenstone hosted gold deposits are known to be associated with major shear structures both on a local, and global scale

Power Metal has completed multiple drilling programmes within the Tati Project. Initially targeting the western part of a ~8km long gold-in-soil anomaly, near surface drilling results included up to 3m of 5.17g/t Au (from 9m downhole).

The second campaign was completed in Q3 2022 and returned multiple bonanza-grade gold intercepts and include up to 47.1g/t and 40.6g/t Au over 1m.

A share option agreement has been entered between Power Metal, Tati Greenstone Resources PTY LTD ("TGR") a company incorporated in Botswana held as a 100% owned subsidiary of Power Metal, and Tuscan Holding PTY LTD ("Tuscan") a company incorporated in Botswana (collectively the "Parties").

Subject to exercise of the Option, Power Metal, through TGR, will retain a 25% interest free carried to production in Prospecting Licence 049/2022 (which covers the Cherished Hope Mine) and from which it is intended that TGR will become a material dividend paying entity from net cash flow generated from gold production. Power Metal will retain the right to a 100% interest in other prospecting licences held by TGR other than PL049/2022. Further details are provided in the following RNS →