Power Metal making progress at Kisinka project

Metals exploration and development company Power Metal Resources updated the market on its 70%-owned Kisinka Copper-Cobalt Project on Friday, which is located around 30 kilometres east of the regional capital of Lubumbashi, in the southern part of the Katangan copper belt in the Democratic Republic of the Congo.

The AIM-traded firm said that, following the discovery of a large 6.8 kilometre copper anomaly running north west to south east in the 2019 field programme, in February it launched a follow-up pitting and mapping exploration programme across the identified target area.

It said the programme was carried out over 40 days to 25 May, with 21 out of 24 planned pits dug for 174.3 metres of pitting, with 16 reaching target depth, five pits stopped in the lateritic cover due to water return, and three pits not attempted due to wet conditions in the field.

The overburden profile was less than expected at five to 10 metres, with the water table higher than expected, and two types of soil detected.

Power Metal reported a 0.5 to 3.8 metre argillaceous soil layer, and a lateritic horizon of one to nine metres, followed by saprolitic rocks including dolomitic and brecciated siltstones down to bedrock.

A total of 211 samples, including 11 field duplicates, were collected, and after sample preparation at the University of Lubumbashi, one batch was subjected to x-ray fluorescence testing at the Minex Consulting offices.

Another batch of samples would be sent to the ALS laboratory in Johannesburg for inductively-coupled plasma multi-element testing, once the airline route had reopened, the board said.

Results from the x-ray fluorescence testwork confirmed the copper anomalous zones identified in the previous geochemical survey, with higher values and a wider zone detected, and open to the north west and south east.

The board said copper anomalous zones were “quite well correlated” with major structures inferred from the detailed mapping, and in the south east with a brecciated zone situated between two strike-slip faults.

Cobalt anomalism was indicated in both zones - more strongly to the north west - with analysis of the weathering-related elements, and the vertical distribution analysis showing copper and cobalt values increasing downwards, reportedly giving evidence of a leaching process, which the spatial relationship of the anomalous zones suggested was towards the south east.

The next steps would be planned after receipt of the inductively-coupled plasma laboratory test results, although Minex Consulting expected to recommend a ground magnetic survey and a ground electromagnetic survey to detect both low magnetic and chargeable lithologies, and indicate structures and faulting and areas of carbonate rocks, as well as further pitting.

“The confirmation and in fact enlargement of the copper anomalous areas detected in previous exploration enables us now to go forward with confidence,” said chief executive officer Paul Johnson.

“The lateralisation and leaching that we encountered support the theory that there may be supergene enriched mineralisation at a lower level, so we particularly want to investigate this.

“The presence of cobalt partly correlated with the copper is another positive indication.”

Johnson said that after confirmation from the inductively-coupled plasma analysis, which the company could extend to include samples from the earlier termite mound sampling, it would release the data on cobalt and copper levels in the anomalies.

“We were able to relate some mineralisation areas to structures and faulting, and to build on that work and generate the best drill targets we will need to carry out some geophysics.

“The lockdown and interruptions to travel impacted this programme, and we are grateful to Minex Consulting and the geological team in the DRC for carrying on their work.”

The same factors could impact the speed at which the company could go forward, Johnson noted.

“But as we have reason to be optimistic, we want to get on with the work as soon as possible.”

At 1205 BST, shares in Power Metal Resources were down 5.05% at 0.45p.