Tanzania

POW through an Investment in Katoro Gold Plc (AIM: KAT) has exposure to a highly prospective Nickel project in Tanzania known as the Haneti Nickel Project.

Map showing location of Haneti

Map showing location of Haneti

POW has earned a 35% interest of the Haneti Project along with 3.09% of Katoro’s issued share capital.

The Haneti project comprises tenements covering an area of circa 5,000 sq. km (prospecting licences, offers and applications) prospective for nickel, platinum-group-elements, cobalt, copper, gold and lithium.

Of four established targets, the key target is an 80km long ultramafic belt with grades of up to 13% Nickel and 2.33 grams per tonne of PGMs.

Map showing key drill targets at the Haneti Nickel Project

Map showing key drill targets at the Haneti Nickel Project

Extensive work completed to date resulting in Nickel Sulphide and PGM drill ready targets. Newly identified potential for lithium pegmatite and associated elements of niobium and tantalum.

Drilling is now underway at the Haneti Nickel Project involving 2,000 metres of Rotary Air Blast (“RAB”) drilling with a planned 50 holes to circa 40 metres depth per hole.

The RAB drill holes will be drilled on profiles across the three target areas in order to provide enhanced information of the subsurface shape and orientation of the ultramafic rock bodies being targeted and allowing for the optimisation of a planned follow-on diamond drill programme.

For more information on Katoro Gold projects visit their website at www.katorogold.com or view their Twitter feed @KatoroGoldplc.

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Summary

Project: Haneti

Target metals: Nickel - Lithium - PGM

Objective: Discovery
Through drilling of large targets identified from geological survey and follow up work to secure a major nickel sulphide discovery

Status: Active
Drilling nickel sulphide targets and separately exploration review of lithium pegmatites with additional rare earth element potential

 
 
 

Power Metal Resources plc
201 Temple Chambers
3-7 Temple Avenue
London EC4Y 0DT
United Kingdom

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