Most significant news ever for Power Metal Resources?
“…When we sink the drill holes and we see what we’ve got, we’ll know pretty quickly if we are onto something very, very significant. And of course, we think we do…”
The Molopo Monster came into the lexicon of Power Metal Resources in August 2022. It’s a reference to the company’s Molopo Farms Complex Project in Botswana which Power acquired an equity stake in 2019.
Three years on and investors learned that drillhole K1-6 at Molopo intersected the edge of a very large-scale and strong magnetic conductor. The edge of that conductor was mineralised with widespread nickel sulphides.
Chief executive Paul Johnson hailed the news as one of the more significant the company had released in its three-year history. A drill programme has been ‘rapidly organised’ and there’s talk of a district size discovery in the making with Johnson tempering expectations as best he can. “When we sink the drill holes and we see what we’ve got, we’ll know pretty quickly if we are onto something very, very significant. And of course, we think we do.”
Power owns an economic interest of 53% in Molopo. That interest will soon increase to 87.71%.
It’s already been telegraphed that there’s external interest in the asset, and next steps at Molopo are being run on military precision with processes already determined for on site core cutting equipment, day to day direct call logging, and expedited transportation of samples to accredited labs.
Molopo is just one part of Power’s portfolio and Johnson reminds investors of the bigger picture including the drilling about to start at the Tati Gold Project also located in Botswana. “We’re prepped and ready. I think we’ve got the projects to deliver the major discoveries.”
Listen to Paul talk to Sarah Lowther about the Molopo Monster and how he’s anticipating a dramatic recovery in the junior resource sector.
Watch Paul talk to The Market Bull’s Sarah Powell about market sentiment
Watch Paul talk to StockBox’s Mark Fairburn about the upcoming drill programmes
Access the company’s latest corporate presentation
Follow the company on Twitter @PowerMetRes
The author was remunerated but does not hold shares in the company
