Power Metal upbeat on Tati soil sampling results

Power Metal Resources announced the results of its geochemical soil sampling at the Tati Gold Project near Francistown, Botswana, on Friday.

The AIM-traded firm said the findings confirmed the existence of two prominent gold anomalies on the Tati Greenstone Belt.

The latest assay results from infill geochemical soil sampling successfully verified two significant gold-in-soil geochemical anomalies.

The findings also demonstrated continuity within the eight-kilometre gold trend at Tati 1, which had historical significance.

For the current sampling, 280 infill soil samples were collected from two distinct grids - northwest and southern - in the southeastern sector of the POW licence.

The collection was intended to confirm and enhance the historical soil data, which had wider spacing.

Power Metal said the sampling included an independent analysis of 33 elements, with gold being a primary focus.

The results provided further clarity on areas with anomalous gold, helping to pinpoint the anomaly strike directions in both grids.

The southern anomaly revealed an approximately 400-metre southward trending extension associated with the Cherished Hope historical mine workings.

Power Metal previously executed a successful diamond drilling programme in the area during the third quarter of 2022.

Ground inspection of specific soil samples from the southwestern extension of Cherished Hope identified regions showing evidence of potential ancient disturbances, like pitting.

The area had been earmarked for further investigation in upcoming work programmes.

Power Metal said the current drilling span at Cherished Hope was about 150 metres in strike length.

Thus, the southern soil anomaly's confirmation could represent a notable extension for future drilling.

The company added that its technical team was in the advanced stages of planning a follow-up exploration initiative, with an announcement detailing was expected shortly.

“The Tati Project continues to make excellent progress with the previously postulated 8km gold anomaly being further supported by the results of infill geochemical soil sampling announced today,” said chief executive officer Sean Wade.

“Based on the soil sampling data and the eight-kilometre-long gold trend, the project appears to offer the potential to host a very large gold deposit, which we know has been, in part, the subject of historical mining activity, further underpinning its development potential.

“We are seeking to advance exploration at the project expeditiously whilst also managing inbound interest in the project and its potential for near-term small-scale mining.”

At 1045 BST, shares in Power Metal Resources were up 4.3% at 0.85p.

Reporting by Josh White for Sharecast.com.