Botswana explorer Kalahari Key Mineral Exploration (KKME) reports that exploration at its Molopo Farms Complex (MFC) project has unearthed 4.4 m of ultramafic rocks with finely disseminated sulphides in angled hole KKME 1-6 at about 270 m vertical depth.
Following the successful drilling of the first two diamond drill holes to their initial target depth, an extensive technical review is currently under way at the MFC project.
The find is the result of initial geological core-logging by KKME's consulting geologist at the project, which is targeting prospective massive nickel sulphide and platinum group metal (PGM) mineralisation in Botswana.
The MFC project is being undertaken in a joint venture partnership with Aim-listed metals exploration and development company Power Metal Resources, which holds an 18.26% stake in KKME.
Power Metal Resources CEO Paul Johnson says the identification of visible sulphides during the geological core-logging process for hole KKME 1-6 is a potentially significant development.
He adds that this is subject to assay testing of samples, opening up the potential for PGMs mineralisation besides the base metals originally targeted.
The setting of this sulphide intersection is consistent with KKME’s geological model and suggests prospectivity for PGMs and base metals. The core will now be split to enable more detailed examination of the mineralogy prior to dispatch for assay. Assay testing of core samples from both drill holes is to be undertaken at an accredited laboratory in South Africa.
In addition, the deepening of drill hole KKME 1-6 from 547 m to between 600 m and 650 m is set to commence this week.
Following this, downhole geophysics field work and interpretation for the two holes drilled to date is expected to be completed by the end of January.
Detailed data is also under review in respect of KKME’s engagement of Aster Funds and Bell Geospace to integrate innovative exploration survey and processing techniques with the existing KKME airborne, natural field audio magneto telluric ground and downhole geophysical datasets. This should accelerate and refine the exploration targeting process for future drill testing.
Following consideration of the extensive data collected from the technical review work, KKME will determine the best locations for the two remaining planned drill holes and specific mineralisation targets.
Meanwhile, during the technical review process and the additional work to be undertaken, including diamond drilling, the formal earn-in period has been amended with the mutual agreement of Power Metal and KKME, to the period ending April 30.
The amended agreement will provide Power Metal a 40% project level interest. This will enable adequate time for the receipt and payment of invoices relating to the earn-in exploration activities.
“The MFC project drill programme is an immense exercise and already we have over 1 000 m of core to examine and process. The size and scale of this exercise is matched only by the hard work and determination of the team in the field, for which I am particularly grateful,” says Johnson.