Investee Update: Kalahari Key, Drill Programme Complete
07/02/2023 15:06
7 February 2023
Evrima plc
("Evrima" or the "Company")
Investee Update: Kalahari Key, Drill Programme Complete
Evrima plc, the investment issuer focused on structuring investment
transactions in the mining and junior exploration and development
industries wishes to notify its shareholders of an update on its investee
company, Kalahari Key Minerals Exploration Pty Limited (“Kalahari Key”) in
which the Company own a 8.93% project-level interest in the Molopo Farms
Complex Project (“MFC”).
Power Metal Resources plc (“Power Metal”) has today provided an update on
the completion of a 2,402m diamond drill programme at the Molopo Farms Complex
Project (“Molopo Farms” or the “Project”) targeting a large-scale
nickel and platinum group element (“PGE”) discovery in southwestern
Botswana. The Company provides key extracts from the Power Metal news release
below, the original source release can be found here
(https://www.londonstockexchange.com/news-article/POW/molopo-farms-botswana-drill-programme-complete/15827461).
Paul Johnson, Chief Executive Officer of Power Metal Resources PLC commented:
“Historical exploration work completed at Molopo Farms prior to this drill
programme demonstrated the validity of the feeder zone geological model with
evidence of the targeted nickel sulphides. From our recent work and
technical findings from this drill programme thus far, the model has been
further validated.
With diamond drilling, downhole geophysics, technical core review and assay
testing we are bringing together a significant amount of data with multiple
final datasets awaited, including assay results and the interpretation
thereof.
We expect the data and interpretations from this drill programme will add
considerably to the existing understanding of what we believe is a
particularly exciting opportunity at Molopo Farms. Further updates will follow
in due course.”
KEY HIGHLIGHTS:
* The inaugural drillhole (DDH2-3A) into target area T2-3 has been completed
to a final downhole depth of 483m.
* A total of 2,402m was drilled in this campaign across five drillholes
targeting four individual target areas including: * DDH2-3A (483m), DDH1-3A
(450m), DDH1-14B (519m), DDH1-6B (2) (300m), DDH1-6B (650m).
* The programme was completed safely and efficiently thanks to the Company’s
various in-country drilling and geological contractors.
* The Company is now working on completing detailed logging of all remaining
cores, as well as cutting, processing, and shipping of all remaining samples
for assay testing at an accredited laboratory located in Johannesburg, South
Africa.
* Once all technical information, including assays, have been received and
interpreted, the Company will release a comprehensive RNS covering all results
from the programme, including geological interpretations, downhole
electromagnetic and assay data.
The Directors of Evrima accept responsibility for this announcement.
This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).
Ends -
Enquiries :
Company:
Burns Singh Tennent-Bhohi (CEO & Director): burns@evrimaplc.com
Simon Grant-Rennick (Executive Chairman): simon@evrimaplc.com
Novum Securities Limited (AQSE Corporate Adviser):
David Coffman / George Duxberry: + 44 (0) 20 7399 9400
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