Power Metal Resources

  • Power Metal Resources (LSE:POW) revealed that ground geophysics has completed at its part-owned Molopo Farms Complex (MFC) project in Botswana on Tuesday. The work was completed by Kalahari Key and will be used to design a drilling programme at the nickel, copper, and platinum group metals (PGM) asset.

    In total 11 loops were conducted on 10 of the best target areas for nickel and PGM mineralisation identified in a recent helicopter-supported, high-resolution electromagnetic survey. The data collected is now being interpreted to identify top priority drill targets by the end of August.

    The MFC project consists of three exploration licences spanning 2,725km2 in southern Botswana. Kalahari Key’s primary target is nickel and platinum mineralisation in the geophysically-delineated, major shear/feeder zone through the centre of the project. The business will also seek to identify massive or disseminated nickel sulphide deposits at the base of, or within the ultramafic zone of the MFC moving forward.

    Power Metal has an 18.26pc shareholding in Kalahari Key. It also has a right by 31 December 2019 to elect to earn into a 40pc direct interest in MFC through an investment of $500,000 in the project by 31 December 2020. If it chooses to do this, the firm will hold an effective economic interest of 50.96pc in the project.

    Alongside its geophysics work, Kalahari Key is preparing relevant environmental submissions for MFC as required in Botswana ahead of drilling. Power Metal noted that the business is also in discussions with drilling companies to ensure that contractors are in place and able to begin drilling when required.

    Paul Johnson, executive director of Power Metal, said: ‘I am pleased to advise that, as previously indicated, the KKME team have now completed the ground geophysics programme. The extensive data collected from the 11 loops, covering the ten best target areas, will now be interpreted with a view to designing a drill programme to test the key targets. I look forward to receiving the results of that interpretation process which are expected to be received by the company later this month.

    To read our recent report on the MFC project and the opportunity it offers to Power Metal Resources and its investors, please click here.

    Author: Daniel Flynn

    The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

    MiningMaven.com and Catalyst Information Services Ltd are not responsible for its content or accuracy and do not share the views of the author.  News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

  • Since restructuring the board of Power Metal Resources (LSE:POW) in February, Paul Johnson and Andrew Bell have made substantial progress in their strategic and operational review of the business portfolio. Having reviewed and bolstered the business, the directors took another step forward in May by signing an acquisition and earn- in deal with a Botswana-focused Kalahari Key Mineral Exploration.

    In this special MiningMaven report, Power Metal’s Executive Director Paul Johnson talks MiningMaven through the deal and Kalahari Key’s unrivalled local experience before explaining why his firm has committed to pursuing ‘elephant-scale deposits’ at the MFC.

    CLICK TO DOWNLOAD YOUR COPY OF THE REPORT

  • Today’s guest on the MiningMaven podcast is Paul Johnson, Executive Director of Power Metal Resources (LSE:POW). Power is focussed on energy metals including Cobalt, Nickel, and copper and is currently developing five projects across Africa. In the interview, Paul discusses the company’s strategy, board experience giving Power an edge in Africa, and the projects it's developing that could potentially lead to a major discovery in the battery metals space.

    This interview was recorded on 10th July 2019.

    All opinions expressed are those of MiningMaven and the respective guests, unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. From time to time MiningMaven principals may take equity positions in companies featured. Listeners are advised to do their own extensive research before buying shares which, as with all small-cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate. MiningMaven.com is a trading division of Catalyst Information Services Limited. Registered in England no. 06537074 (Registered Office Address 3rd Floor Ivy Mill, Crown Street, Manchester, M35 9BG) #gold #mining #investing

    Author: Stuart Langelaan

    The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    The Author has not been paid to produce this piece by the company or companies mentioned above.

    Catalyst Information Systems Ltd, the owner of MiningMaven.com, has not been paid for the production of this piece by the company or companies mentioned above.

    MiningMaven.com and Catalyst Information Systems Ltd are not responsible for its content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

     

  • Today’s guest on the MiningMaven podcast is Paul Johnson, Executive Director of Power Metal Resources (LSE:POW). Power is focussed on the energy metals sector and is developing five projects across Africa. These include the nickel-lithium Haneti project in Tanzania, the Kisinka copper-cobalt project in the DRC, the recently added nickel-copper project in Botswana, and a cobalt-nickel project in Cameroon.

    On Monday, Power announced the completion of a field programme in Cameroon. Paul discusses activities undertaken during the programme and the next stages ahead for the project. The Executive Director also gives a rundown of progress across the rest of Power’s asset portfolio.

    This interview was recorded on 22nd July 2019.

    All opinions expressed are those of MiningMaven and the respective guests, unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. From time to time MiningMaven principals may take equity positions in companies featured. Listeners are advised to do their own extensive research before buying shares which, as with all small-cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate. MiningMaven.com is a trading division of Catalyst Information Services Limited. Registered in England no. 06537074 (Registered Office Address 3rd Floor Ivy Mill, Crown Street, Manchester, M35 9BG) #gold #mining #investing

    Author: Stuart Langelaan

    The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    The Author has not been paid to produce this piece by the company or companies mentioned above.

    Catalyst Information Systems Ltd, the owner of MiningMaven.com, has not been paid for the production of this piece by the company or companies mentioned above.

    MiningMaven.com and Catalyst Information Systems Ltd are not responsible for its content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

  • Power Metal Resources (LSE:POW) inched up to 0.54p on Tuesday after updating investors on the strong ground operation progress being made at the Molopo Farms Complex (MFC) project in Botswana.

    The business said that Kalahari Key, owner of the nickel, copper, and platinum group metals project, has largely completed ground geophysics work to identify priority drill targets for the next stage of exploration. The work follows a high-resolution EM and magnetic survey completed in May last year that identified 17 conductor targets within the project’s feeder/shear zone.

    Kalahari Key expects to complete its ground geophysics work by early August, with results interpretation expected to commence shortly thereafter. A full update will be provided to the market detailing the outcome of the ground geophysics and the priority drill targets upon completion.

    Power Metal’s exposure and interest in MFC comes through its 18.26pc position in Kalahari Key. The business also has the right by 31 December this year to earn-in to a 40pc direct interest in the project by committing to spending $500,000 on its development by 31 December 2020. If it chooses to exercise this option, then it will hold a 50.96pc effective economic interest in MFC.

    Paul Johnson, executive director of Power Metal, said he was ‘impressed’ by the pace at which Kalahari Key is advancing exploration at MFC, adding:

    ‘This important groundwork is designed to initially follow up 11 areas within the 17 conductor targets identified from the helicopter Electromagnetic ("EM") Survey and narrow down to a number of high-profile drill targets. In this region mineral deposits are under sand cover with no surface expression so the application of high-resolution geophysics is vital in identifying the most attractive drill locations.

    ‘I am hugely excited by the opportunity the MFC project presents for our shareholders, both through the POW 18.26% shareholding in Kalahari Key and the potential for the Company to earn in to a 40% direct project interest. Consequently, we await with some excitement the outcome of the ground geophysics programme and the important results interpretation.’

    MFC consists of three exploration licences spanning 2,725km2 in southern Botswana. Kalahari Key’s primary target is nickel and platinum mineralisation in the geophysically-delineated, major shear/feeder zone through the centre of the MFC. The business will also seek to identify massive or disseminated nickel sulphide deposits at the base of, or within the ultramafic zone of the MFC moving forward. To read our recent report on Power Metals’ deal with Kalahari Key and the opportunities offered by the MFC project, please click here.

    Tuesday’s news comes just a day after Katoro Gold (LSE:KAT) confirmed third-party interest and expanded exploration plans for two of its gold projects in northern Tanzania. The £1.92m business said that it had received expressions of interest around a purchase of - or joint venture agreement on - its Imweru and Lubando gold projects in the Lake Victoria Goldfields.  Although no suitable agreement has yet been made, Katoro said the interest shows a ‘clear appreciation of the inherent value’ of the projects, which have a combined JORC-compliant gold resource of 754,980oz.

    With gold prices rising and a recent review confirming exploration upside potential at both Imweru and Lubando, Katoro said the best way to create near-term value would be to build the projects’ resource inventory. Indeed, it is targeting an initial target of 1MMozs of gold across both sites, an increase of nearly a third on existing resources.

    Power Metal owns a 5.95pc stake in Katoro as well as a 25pc direct interest in the firm’s Haneti Nickel project. Based in Central Tanzania, Haneti is a nickel sulphide project made up of near-contiguous tenements covering around 5,000km 2 of land. Much of the project lies on top of a highly-prospective belt of rocks called the Haneti-Itsio Ultramafic Complex (HIUC), which is made up of metamorphosed ultrabasic rocks like dunite and peridotite called serpentinites.

    Author: Daniel Flynn

    The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

    MiningMaven.com and Catalyst Information Services Ltd are not responsible for its content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

     

  • On Wednesday, Power Metal Resources (LSE:POW) - formerly known as African Battery Metals (LSE:ABM) – announced plans to drill the Haneti Nickel Project. A fully funded initial drill programme will focus on two key targets - Mihanza Hill and Mwaka Hill - to ascertain the existence of disseminated or massive sulphide mineralisation.

    The decision to drill follows an in-depth review and analysis of historical work at the project which indicates Haneti may host a chonolith type nickel sulphide deposit. In the event of success, a larger drilling programme will likely follow on the 5,000 sq. km site.

    Power Metal currently holds a 25pc interest in the Haneti project via a joint venture agreement with Katoro Gold (LSE:KAT). The firm can elect to increase its interest to 35pc on payment of £25k. Power also gains additional exposure to the project via a 5.95pc shareholding in Katoro.

    Paul Johnson, Executive Director of Power Metal Resources plc commented: "The decision to drill the Haneti Nickel project, targeting nickel, copper and PGM mineralisation is an acutely significant event for both JV partners.

    The two initial targets are substantial and have been selected following an extensive exploration programme involving a combination of airborne and ground exploration techniques to identify, consolidate and pinpoint the drill programme.

    The upcoming drill programme is an efficient start to our JV work at Haneti and fits with the Company's strategic objective to discover large scale mineral deposits."

    Former project owner, Kibo Energy (LSE:KIBO) spent $1.5m on exploration across the Haneti-Itiso Ultramafic Complex (HIUC) at Haneti prior to 2012. The work included rock and soil sampling, geological mapping, trenching, geophysical surveys and petrographic analyses, with grades of up to 13.59pc nickel identified in rock samples.

    A  high resolution airborne geophysical survey followed in 2012/13 outlined mafic-ultramafic zones with strike lengths of 10-20km, 30km and 80km, across the northwest, southwest and central zones of the HIUC. Haneti lies within the HIUC, and a subsequent independent geochemical interpretation highlighted the Mihanza Hill area as a prime drill target.

    Last month, Katoro Gold revealed results from a comprehensive soil sampling programme had further increased its confidence in the project. 1,500 samples were analysed at an independent laboratory, confirming high priority targets and extending the strike length of a number of targets.

    Speaking to MiningMaven, Paul Johnson added: ‘Haneti is the fourth POW project that is now operationally active and exploring for a major metal discovery. It also is unique with strike lengths in the HIUC of up to 80km and in respect of Mihanzi Hill, an identified target that extends to 800m below surface, so is extremely large.’ 

    Author: Stuart Langelaan

    The Author does not hold a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    The Author has been paid to produce this piece by the company or companies mentioned above.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

    MiningMaven.com and Catalyst Information Services Ltd are not responsible for its content or accuracy. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.

     

     

  • Power Metal Resources (LSE:POW) rose 1.8p on Tuesday after announcing signs of lithium prospectivity at its part-owned Haneti project in Tanzania. The firm, which owns a 25pc position in Haneti alongside Katoro Gold (LSE:KAT), said regional exploration reconnaissance at the identified several pegmatite outcrops included within two abandoned artisanal pits.

    The pegmatites, appear to intrude along the sheared contact between granite gneisses and serpentinised ultramafic rocks, consist of corase quartz, lepidolite, and red and black tourmaline. Critically, Lepidolite contains significant amounts of lithium and may indicate the presence of useful lithium minerals like spodumene and petalite. Meanwhile, Power Metal said the pegmatites can also prove prospective for rare earth elements and other saleable minerals like tantalite-columbite.

    Further work will be completed in the area following these early signs of prospectivity, with Katoro already applying for five additional licences in the areas coverin the zones of interest. Meanwhile, Power Metal and Katoro are constructing a work programme that may include a regional desktop study, detailed field mapping and geochemical analysis. The aim of this work will be to identify any lithium-bearing minerals and the extent of any mineralisation identified.

    Paul Johnson, executive director at Power Metal, said he was excited by the news as the firm’s original interest in Haneti had stemmed from its large-scale nickel sulphide targets. An upcoming drill programme will be undertaken to test those targets.

    ‘Having lithium, and potentially rare earth element, prospectivity at Haneti is also very interesting and adds to the excitement and potential of the Haneti Project for the project partners; and shareholders of both POW and Katoro alike,’ he added. ‘I look forward to reporting further in respect of these additional exploration activities being undertaken at Haneti.’

    Power Metal established a joint venture with Katoro over Haneti earlier this year, and the former has the option to increase its position in the project to 35pc by paying the latter £25,000 in cash by 15 May 2020. The asset sits alongside Power Metal’s broader portfolio of projects centred around the key metals used in power generation, transmission, storage, and utilisation. This includes assets in the DRC, Cameroon, Cote d’Ivoire, and Botswana.

    To read our recent report on Power Metal’s interests in Botswana, including exclusive quotes from Johnson, please click here.

    Author: Daniel Flynn

    The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

    MiningMaven.com and Catalyst Information Services Ltd are not responsible for its content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance 

     

     

  • Power Metal Resources’ (LSE:POW) busy week continued on Thursday with the news that it had purchased an option to acquire a majority stake in a DRC-based copper-cobalt project.

    The business has paid $5,000 for a 60-day exclusivity period over licence PR 13479, during which it will carry out legal and technical due diligence and prepare JV documentation. It will also complete a termite mound sampling programme to test cobalt mineralisation at a greater depth than the 27-30cm soil sampling depth.

    If Power Metal decides to exercise its option, it will pay $50,000 to the licence’s current owner SCOMIS – a local Congolese firm – in exchange for a 70pc stake. The organisation would then pay a further $250,000 to SCOMIS once drilling begins.

    PR 13470 covers around 3.5km2in the Lualaba district of the DRC and is based some 5km north of the producing Tondo cobalt and copper mine owned by a Lerexcom. According to Power Metal, PR 13470 sits in the same geology as Tondo in a known cobalt-prospective area that is attracting increased exploration attention.

    What’s more, early-stage soil sampling has already shown the presence of anomalous cobalt at 500-750 parts per million on the licence. One early sample was even found to contain more than 4pc of the metal by an x-ray fluorescence spectrometer. The area has also been found to contain dispersed sections or fragments of R2 mineralisation, a part of the Roan sequence that hosts much of Congo’s cobalt. Some of these sections are visible locally as elevated ridges.

    Power Metal’s executive director Paul Johnson described the option as ‘very exciting’, adding that the company’s goal at the licence is to prove up a shallow, open-pittable, and high-grade resource.

    ‘This license is in a highly prospective area for copper-cobalt, near an existing mine, and is primarily a cobalt target. We are fortunate to have secured this option at an early stage when the presence of anomalous cobalt has already been proven. However, the shallow depth at which soil sampling has been carried out means the results derive from material where the mineralisation may have been reduced by weathering,’added Johnson.

    ‘If we test deeper in the regolith, we may get results of higher tenor that show more of the potential of the License. Initially we propose to do this by termite mound sampling across the license. That may be followed by a small number of pit excavations to take us down to the bedrock, which we expect to encounter at about a depth of 10m.’

    Thursday’s release came just a day after Power Metal revealed substantial ground operation progress at the Molopo Farms Complex (MFC) project in Botswana.

    The business said that Kalahari Key, owner of the nickel, copper, and platinum group metals project, has largely completed ground geophysics work to identify priority drill targets for the next stage of exploration. The work follows a high-resolution EM and magnetic survey completed in May last year that identified 17 conductor targets within the project’s feeder/shear zone.

    Kalahari Key expects to complete its ground geophysics work by early August, with results interpretation expected to commence shortly after that. A full update will be provided to the market detailing the outcome of the ground geophysics and the priority drill targets upon completion.

    Power Metal’s exposure and interest in MFC comes through its 18.26pc position in Kalahari Key. The firm also has the right by 31 December this year to earn-in to a 40pc direct investment in the project by committing to spending $500,000 on its development by 31 December 2020. If it chooses to exercise this option, then it will hold a 50.96pc effective economic interest in MFC.

    Meanwhile, on Monday, the business welcomed the news that Katoro Gold (LSE:KAT), in which it owns a 5.95pc stake, had received third-party interest in two of its gold projects in northern Tanzania.

    Katoro said it had received expressions of interest around a purchase of - or joint venture agreement on - its Imweru and Lubando gold projects in the Lake Victoria Goldfields. Although no suitable agreement has yet been made, Katoro said the interest shows a ‘clear appreciation of the inherent value’ of the projects, which have a combined JORC-compliant gold resource of 754,980oz.

    Power Metal also owns a 25pc direct interest in Katoro’s Haneti Nickel project, which can be increased to 35pc through a £25,000 cash payment. Based in Central Tanzania, Haneti is a nickel sulphide project made up of near-contiguous tenements covering around 5,000km 2 of land.  Much of the project lies on top of a highly-prospective belt of rocks called the Haneti-Itsio Ultramafic Complex (HIUC), which is made up of metamorphosed ultrabasic rocks like dunite and peridotite called serpentinites.

    Author: Daniel Flynn

    The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Services Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

    MiningMaven.com and Catalyst Information Services Ltd are not responsible for its content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

  • Earlier this year, Power Metal Resources added Tanzania to the growing list of African countries where it is exploring for the key battery metals powering the electrification of the world. The company entered an option to buy up to a 35pc position in a project owned by AIM-listed Katoro Gold (LSE:KAT) called Haneti that is thought to be prospective for both nickel and lithium.

    Together, the two businesses have pooled their collective experience to launch immediately into an accelerated programme of work designed to inform a drilling campaign at Haneti. In this report, Power Metal’s executive chairman Paul Johnson, who joined alongside chairman Andrew Bell as part of a restructuring earlier this year, explains why he thinks this work could be ‘transformational’ for the firm.

    CLICK HERE TO DOWNLOAD YOUR COPY OF THE REPORT