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London-listed Power Metal Resources’ Tati project, in Botswana, is becoming a significant project for the company, with only a 175 m strike distance of an 8-km-long gold-in-soil anomaly drill tested and extensive high-grade gold confirmed from reverse circulation (RC) drilling.
This is according to CEO Paul Johnson, who noted in a statement on the final results from a recently completed drilling programme on the company’s 100%-owned and operated Tati project.
Assay results from the first three holes, which included the bonanza intercept 1 m of 47.1 g/t gold from 6 m downhole depth in RC drillhole CHRC0003, were announced to the market earlier this month.
“Naturally the 47.1 g/t gold and 40.6 g/t gold grades peak excitement, which they should; however, more important is the continuity of gold mineralisation over the 175 m strike drill tested thus far, which bodes well for the significant amount of the anomaly yet to be tested. That drill testing is now a priority for Power Metal,” Johnson said.
A total of nine RC holes totalling 490 m were completed at Tati as part of the August exploration programme – representing the first ever known drilling programme carried out on prospecting licence (PL) 049/2022.
Complete assay results have now been received for the remaining six holes.
In addition to multiple high-grade gold intersections reported from the first three RC drillholes, significant near-surface dolerite and quartz reef hosted gold mineralisation was successfully intersected in five of the six remaining holes.
Notably, the third-quarter drilling area is located along a major northwest-southeast oriented regional shear that is thought to be the control of gold mineralisation observed within the area.
“Complementing the extremely exciting gold exploration results we have to note the practical advantages of the Tati project,” Johnson said.
He noted that the gold mineralisation identified to date was near surface, significantly derisking any mining proposition.
Moreover, the project is centred on the former working gold mine, Cherished Hope, with gold fines dumps available for processing at a local processing site, potentially generating revenue for further exploration and development of the project.
The processing site for the fines dumps is located within 20 minutes by road from the project, and clearly also presents an avenue for processing of gold from the newly discovered mineralised areas, subject to undertaking commercial agreements and local regulatory approvals, Johnson pointed out.
He said significant progress was being made with the project and that the company intends to accelerate its activity to undertake RC drilling to more fully test the very large gold-in-soil anomaly, prove up more extensive gold mineralisation and in parallel develop avenues for future gold production from the project.
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