London-listed exploration junior, Power Metal Resources (PMR) is bullish about its discovery of major gold deposits near Francistown saying soil sampling programme confirmed the presence of three significant gold-in-soil geochemical anomalies.
This follows the company’s 2023 drilling programme on its 100 percent owned and operated Tati Project located within the Tati Greenstone Belt near Francistown. According to the company, the latest findings provide further evidence of continuity within the eight-kilometre-long gold trend at Tati.
“The exploration results herein cover extensive soil sampling undertaken at Tati in 2023, a fundamental step in the exploration process to identify areas with potential gold mineralisation and the discovery of new gold deposits,” the company said. Specifically at Tati, the work was critical to further demonstrate gold mineralisation continuity within the previously identified 8km-long gold trend within the project boundaries.
According to Power Metal Resources’ Chief Executive Officer, Sean Wade, the gold soil sampling programme has delivered quite remarkable results in terms of confirmation of the significant area mineralised and also the consistency of positive results across the areas tested.
“Each stage of work at Tati has delivered extremely positive findings and we are more confident than ever that the Project holds very significant value for the Company,” said Wade. He added that “As a result, we are positively moving forward to next stage exploration whilst in parallel continuing discussions with potential partners interested in the early-stage mining possibility that exists at Tati.”
The firm reiterated that the 2024 geochemical soil sampling assay results confirm the presence of three significant gold-in-soil geochemical anomalies, proving further continuity within the 8 km-long gold trend at Tati.
The junior miner said a total of 446 individual soil samples were taken from four separate grid areas. The main programme goal was to test for additional gold mineralised zones within the 8km-long gold mineralised trend which extends in a northwest-southeast direction through Tati, the company said. It stated that of the 446 samples taken, 3 returned greater than 500 parts per billion gold, including individual soil sample gold assay results of 568 parts per billion, 831parts per billion and 1,076 parts per billion gold which is equivalent to 1.076 grammes per tonne.
Power Metal resources said an impressive 29 samples returned 100 parts per billion gold or above, the vast majority of which form part of the CH Anomaly, a now greater than 600m-wide zone which remains open in multiple directions. Power Metal Resources said the CH Anomaly represents a significant extension zone trending southwest from the original Cherished Hope historical mine workings.
It said the anomalies included the Northwest (NW), Southwest (SW), and Cherished Hope (CH) anomalies adding that the SW and NW anomalies are located approximately 1,500m and 3,000m from the CH Anomaly respectively. The position of these anomalies shows the potential for a significantly larger anomalous gold-in-soil footprint at Tati subject to further infill sampling work.
Power Metal Resources said it continues to push forward commercial discussions regarding the potential for small-scale mining at its Cherished Hope Gold Mine, in parallel with continuing exploration work, further details of which are expected to be announced in the near term.