Power Metal Resources PLC (LON:POW) said it is mobilising an operating team this week to begin a geophysics programme at its Kisinka copper-cobalt project in the Democratic Republic of the Congo (DRC).
The AIM-listed firm said the programme will consist of a 277 line kilometres (KmL) ground magnetics survey on a north-south spacing of 100 metres and an east-west spacing of 1,000 metres, as well as a 12 KmL induced polarization survey on six lines of 2 KmL each and the provision of raw data to Ranacher McKenzie Geoscience for interpretation.
Power Metal said in November laboratory assay results confirmed high cobalt and copper values in parts of a 6.8km+ anomalous zone identified by the company’s previous exploration work, and that the geophysics programme will focus on the central and southern anomalies and the open area south-east of the southern anomaly.
The firm added that the object of the survey work will be to detect low magnetics lithologies to obtain a more accurate picture of structures and carbonate rocks, and to identify conductive targets in order to optimise subsequent drill targeting.
“This work is an important follow up to the geochemical work conducted over the last two years and will help us tie the laboratory results and the identified anomalies to the underlying lithologies and structure of the area. This in turn will enable us to assess additional potential directions in areas where the anomalies are open, and to prioritise targets for drilling”, Power Metal chief executive Paul Johnson said in a statement.
“Given the size and scale of the copper and cobalt anomaly we have confirmed to date through exploration Kisinka is now a key project for Power Metal and we are accelerating our exploration work to advance the Project as quickly as possible”, he added.
Shares in Power Metal were 10.4% lower at 2.1p in late-morning trading on Tuesday.