Business
Tati Project Development Update
Power Metal Resources PLC has announced a significant development at its Tati Gold Project in Botswana, with the formal approval of the Environmental Management Plan, a key milestone for advancing on-site activities including drilling. Discussions for the access agreement are nearing finalisation, which will permit access to the licence area for the planned work programme. Tuscan Holding PTY LTD, the option partner, will manage and fund the next phase, which includes rotary air blast drilling to define gold mineralisation at Cherished Hope, with drilling expected to commence post-rainy season in March/April. Tuscan has the option to acquire a 75% interest upon completion of a feasibility study and financing of a processing plant, with Power Metal retaining a 25% interest carried to production. Disclaimer*
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n27 January 2026\nPower Metal Resources PLC\n(\"Power Metal\" or the \"Company\")\nTati Project Development Update\nPower Metal Resources PLC (AIM:POW) the London-listed exploration company and project incubator with a global project portfolio, is pleased to announce a commercial update from its 100% owned Tati Gold Project (\"Tati\" or the \"Project\") located on the Tati Greenstone Belt (\"TGB\") near Francistown, Botswana.\nFurther to the share option agreement (\"Option\" or the \"Agreement\") entered into with Tuscan Holding PTY LTD (\"Tuscan\") on 19th June 2024, Power Metal along with Tuscan and its in-country operations team have completed key preparations for the next phase of work, the details of which are outlined below.\n \nHighlights:\n· The Environmental Management Plan (\"EMP\") for the Tati Gold Project has been formally approved by the relevant government authorities, removing a key permitting milestone required to advance on-site activities including drilling.\n \n· While negotiations relating to the access agreement covering the Project area, and Cherished Hope specifically, took longer than initially anticipated, discussions are now well advanced and nearing finalisation, with execution expected in short order. This will provide access to the licence area to support the planned work programme.\n \n· An extremely strong gold price environment continues to materially support the advancement of the Tati Gold Project and the potential for small-scale mining at Cherished Hope, reinforcing the economic rationale for continued investment and evaluation by the Company's option partner, Tuscan.\n \n· With the successful receipt of the EMP, and upon finalisation of the access agreement, the Company is pleased to report that next project steps can proceed which include rotary air blast (\"RAB\") drilling to define the geometry and continuity of gold mineralisation at Cherished Hope.\n \n· In accordance with the Option, Tuscan will manage and fund the planned work programme. Site visits are expected to commence in the upcoming weeks to progress drill site investigations and preparations, with drilling planned to commence following the end of the current rainy season, anticipated by March/Ap...