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.
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.
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.
Target metals: Nickel - Lithium - PGM
Through drilling of large targets identified from geological survey and follow up work to secure a major nickel sulphide discovery
Drilling nickel sulphide targets and separately exploration review of lithium pegmatites with additional rare earth element potential