Power Metal Resources all keyed up for drilling at Molopo Farms in Botswana
Drilling is one step closer on the Molopo Farms nickel and platinum group metals project in Botswana, in which Power Metal Resources PLC (LON:POW) has a significant stake alongside Kalahari Key Mineral Exploration Pty.
A drilling contract has been signed with the same contractors that were instrumental in discovering the T3 copper project now owned by Sandfire.
Power Metal currently has an 18.26% shareholding in Kalahari Key and has elected to earn in to a 40% direct interest in the Molopo Farms project by funding US$500,000 of exploration expenditure in 2020, notably the diamond drilling of selected targets.
On completion of the Earn-In, Power Metal will have an effective economic interest of 50.96% in the project.
The US$500,000 cost is fully funded and covered by Power Metal’s existing working capital.