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Haneti Nickel PGM Project - Drilling Update
Haneti Nickel PGM Project - Drilling Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6496U\n Power Metal Resources PLC\n 07 April 2021\n \n \n \n \n 7 April 2021\n \n \n Power Metal Resources plc \n \n \n (\"Power Metal\" or the \"Company\")\n \n \n Haneti Nickel PGM Project - Drilling Update\n \n \n Decision to Proceed with Diamond Drilling Programme\n \n \n Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to announce an update regarding the maiden rotary air blast (\"RAB\") drill programme targeting the discovery of nickel and platinum group metals (\"PGM\") at the Haneti Nickel PGM Project (\"Haneti\" or the \"Project\") in Tanzania.\n \n \n Power Metal holds a 35% ownership interest in Haneti with 65% held by Katoro Gold plc (LON:KAT)(\"Katoro\").\n \n Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:\n \"We are delighted to report that following receipt of the results from the recently completed RAB drill programme a decision has been made to advance the Haneti Nickel PGM Project to deep diamond drilling. \n The extra geological information provided by the recent shallow drilling results and the discovery of new gossanous nickel-copper-magnetite veining at Mihanza Hill, have confirmed that we should proceed to deep diamond drilling in order to assess the potential for economic nickel sulphide mineralisation at Haneti. \n With the diamond drilling programme design and drilling contractor appointment currently underway we look forward to providing further updates shortly.\"\n \n HIGHLIGHTS:\n \n \n · \n A maiden diamond drilling programme is now planned to test for nickel and PGM sulphide mineralisation at depth following the successful completion of the shallow RAB drilling programme at Mihanza Hill and Mwaka Hill and the identification of intensely weathered nickel-copper-magnetite veins at a new outcrop at Mihanza Hill.\n \n \n \n \n \n · \n Following the completion of the 50 hole (1,965m) shallow\n RAB drilling programme at Mihanza Hill and Mwaka Hill, announced 26 January 2021, the assay results have now been received from SGS Laboratories and a decision has been made to progress to a diamond core drilling programme in order to test for nickel sulphide mineralisation at depth.\n \n \n \n \n \n · \n The objective of the RAB drilling programme was to delimit the extent of ...