Botswana

Operations in Botswana

Operations in Botswana

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.

In addition, POW may at its sole discretion and by 31 December 2019, elect 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 airborne geophysics undertaken in the Survey has identified 17 key zones where the conductivity of the rocks is of interest and Kalahari Key is reviewing this data and constructing a priority list of targets for ground exploration follow up.

Further information in respect of KKME and the MFC Project background is available at the Kalahari Key website: www.kalaharikey.co.uk.

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Summary

Project: Molopo Farms Complex

Target metals: Nickel - Copper - PGMs

Objective: Discovery | Seeking to secure a major metal discovery under sand cover by applying latest technology to identify large scale targets for early drilling

Status: Active | Ground geophysics underway to establish prime drilling targets from 17 zones of interest already identified

 
 
 

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

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