Power Metal releases Tati drilling results

Highlights:

A total of nine RC holes totalling 490 m were completed at Tati as part of the August 2022 exploration programme – representing the first ever known drilling programme carried out on prospecting licence (PL) 049/2022. In addition to multiple high-grade gold intersections reported from the first three RC drillholes, significant near-surface dolerite and quartz reef hosted gold mineralisation was successfully intersected in five of the six remaining holes. Key down-hole intersections (>1g/t Au) include:

Hole CHRC0004 

• 1 m @ 1.36 g/t Au from surface. 
• 2 m @ 1.81 g/t Au from 2 m.
• 1 m @ 1.56 g/t Au from 5 m.
• 1 m @ 2.53 g/t Au from 36 m.

Hole CHRC0005

• 1 m @ 1.13 g/t Au from 22 m.
• 2 m @ 1.78 g/t Au from 52 m.

Hole CHRC0006 

• 2 m @ 23.17 g/t Au from 25 m, including:
  • 1 m @ 40.63 g/t Au from 26 m.

Hole CHRC0007

• 1 m @ 4.80 g/t Au from 1 m.
• 2 m @ 6.59 g/t from 5 m, including:
  • 1 m @ 11.27g/t Au.
• 1 m @ 1.55 g/t from 13 m.
• 1 m @ 11.16g/t from 54 m.

Hole CHRC0009

• 2 m @ 2.11 g/t Au from 49 m.

Drilling intersections have confirmed gold mineralisation over a strike length of 175 m, with mineralisation remaining open towards the northwest, southeast and downdip.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

"Tati is becoming a significant project for Power Metal – with only 175 m strike distance of an 8 km long gold-in-soil anomaly drill tested and extensive high-grade gold confirmed from the RC drilling.

Naturally the 47.1g/t Au and 40.6g/t Au grades peak excitement, which they should, however more important is the continuity of gold mineralisation over the 175 m strike drill tested thus far, which bodes well for the significant amount of the anomaly yet to be tested. That drill testing is now a priority for Power Metal.

Complementing the extremely exciting gold exploration results we have to note the practical advantages of the Tati project. The gold mineralisation identified to date is near surface, significantly de-risking any mining proposition. And the project is centred on the former working gold mine, Cherished Hope, with gold fines dumps available for processing at a local processing site, potentially generating revenue for further exploration and development of the project.

The processing site for the fines dumps is located within 20 minutes by road from the project, and clearly also presents an avenue for processing of gold from the newly discovered mineralised areas, subject to undertaking commercial agreements and local regulatory approvals.

All told, the Tati project is making major progress and the company intends to accelerate its activity to undertake RC drilling to more fully test the very large Au-in-soil anomaly, prove up more extensive gold mineralisation and in parallel develop avenues for future gold production from the project."

Read the article online at: https://www.globalminingreview.com/mining/07112022/power-metal-releases-tati-drilling-results/