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Kalahari Key - Completion of Ground Geophysics
Kalahari Key - Completion of Ground Geophysics.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8493I Power Metal Resources PLC 13 August 2019 \n\n13 August 2019\nPower Metal Resources plc (\"POW\" or the \"Company\")\nKalahari Key Botswana - Completion of Ground Geophysics\nPower Metal Resources plc (LON:POW) the AIM listed African focused metals exploration and development company is pleased to confirm the completion of ground geophysics by Kalahari Key Mineral Exploration Pty Ltd (\"Kalahari Key\" or \"KKME\") at the Molopo Farms Complex project (\"MFC\" or the \"Project\") a Botswana Nickel-Copper-PGMs exploration project 100% owned by Kalahari Key.\nPower Metal Resources has an 18.26% shareholding in Kalahari Key and also has a right by 31 December 2019 to elect to earn into a 40% direct project interest in the Molopo Farms Complex project, through an investment of US$500,000 in the Project by 31 December 2020 (the \"Earn-in\"). \nShould the Company elect to earn in, Power Metal Resources will hold an effective economic interest of 50.96% in the Project.\nThe Company's Kalahari Key acquisition agreement was announced on 13 May 2019 and readers can review this announcement through the following link:\nhttps://www.powermetalresources.com/n/n104/acquisition-and-earn-in-agreement-botswana-project\n \nPaul Johnson, Executive Director of Power Metal Resources plc commented: \"I am pleased to advise that, as previously indicated, the KKME team have now completed the ground geophysics programme.\nThe extensive data collected from the 11 loops, covering the 10 best target areas, will now be interpreted with a view to designing a drill programme to test the key targets.\nI look forward to receiving the results of that interpretation process which are expected to be received by the Company later this month.\"\nHighlights:\n· Spectral Geophysics, Gaborone, Botswana have now completed the ground geophysics programme over targets for Ni-PGM mineralization identified by a recently completed helicopter-supported, High-resolution electro magnetic survey (the \"EM Survey\");\n \n· In total 11 loops were conducted on 10 of the best target areas from the 17 target areas identified from the EM survey;\n \n· The data from the programme is now being interpreted and the KKME team will be hosting a technical review meeting shortly to review the ...