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Alan Green discuss #KAV Kavango Resources, #ARB Argo Blockchain & #TM1 Technology Minerals on the Vox Podcast

Alan Green discuss #KAV Kavango Resources, #ARB Argo Blockchain & #TM1 Technology Minerals on the Vox Market Podcast

#KAV Kavango Resources – KSZ – Second Mineralisation Target Type at the GRS and Placing to expand exploration programme

The Great Red Spot (the “GRS”) has been recognised as a large-scale exploration target in Botswana for major metal and mineral deposits since the mid-1970s. However, technology has only advanced sufficiently in recent years to allow effective exploration of this.

Kavango Resources plc (LSE:KAV) has been conducting exploration over this 5km x 8km magnetic body since 2018. Most recently, the Company drilled exploration holes KSZDD001 and KSZDD002 in this area. Initial results from KSZDD001 (announced 16 November 2021) provided Kavango with an exploration lead that appeared to support a late 1990’s theory about the GRS, in that it could host a form of Iron Oxide Copper-Gold (“IOCG”) style mineralisation.

IOCG systems can host highly valuable copper, gold and uranium ores.  The large size and relatively simple metallurgy can produce extremely profitable mines.

Following six months of additional field exploration and detailed desktop analysis, Kavango confirms it now believes the GRS conforms to an idealized model for a large IOCG-style system.

The Company believes this is a significant development for the prospectivity of the GRS. IOCG deposits are an alteration “overprint” of the host geology when they form. Therefore, Kavango believes the IOCG model represents a second mineralisation style possibly present within the GRS, in addition to the existing potential for nickel/copper (Ni/Cu) sulphide deposits.


–  IOCG mineralisation model for the Great Red Spot (“GRS”) first proposed in late 1990s

–  This is a second possible mineralisation style for the GRS, which Kavango is now targeting in addition to the Ni/Cu sulphide model

–  Initial contact with Proterozoic basement host rocks at 950m depth

–  Draft economic comparables study confirms potential viability of the modelled IOCG deposit type at this depth in this region

–  Great Red Spot exhibits similar geophysical signatures to the Olympic Dam IOCG ore deposit in Australia. These include:

–  Coincident aeromagnetic and ground gravity anomalies, with clear spatial and structural symmetries

–  Similar “crown-like” shape in inversion results (morphology)

–  Strong 30 milliGal Gravity anomaly (announced 21 January 2021)

–  Multiple zones for possible alteration (heterogeneities) identified by 16km of advanced Audio-Magnetotelluric (“AMT”) surveys

–  Physical property testing of core samples recovered from Hole KSZDD001 in November 2021 revealed concentrations of magnetite

–  KSZDD001 intercepted a limb of the magnetic modelled “crown”

–  Magnetite zones are associated with other IOCG deposits

–  Kavango’s interpretation of the magnetic model of the GRS, projects that the magnetite content intensifies closer to the centre of the GRS

–  Regional geological setting supports the prospectivity of the GRS to host multiple ore deposit styles:

–  The GRS sits on the western edge of the Kaapvaal Craton

–  It lies in the nexus of 4 interpreted significant regional faults

–  Enhanced probability to host large magmatic intrusions and alteration systems, due to the structural complexity and tectonic location

–  Next steps

–  Further AMT surveys over the GRS

–  Final report of an economic potential study for the IOCG model

–  Kavango to present the GRS IOCG exploration model to shareholders in the next week

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

“It is important to be careful when comparing a geophysical model to an existing ore deposit. Geology is complex and no two deposits are the same.

We first appreciated the geophysical similarities between Olympic Dam and the Great Red Spot in November last year. Rather than rush to publish, we’ve instead worked diligently on this new target over the last 6 months. We’ve been mindful that while the tectonic settings of Olympic Dam and the GRS are similar, the host geology and alteration could be very different.

Therefore, we sought to gather more evidence that the GRS could contain an alteration system, before publishing this new large-scale target.

Our comparison with Olympic Dam is led by rigorous geophysical modelling. The correlation of the magnetic data with gravity data over the GRS is very similar to the nearly coincident magnetic and gravity anomalies originally identified at Olympic Dam. In addition, the shape and size of the modelled magnetic bodies of both Olympic Dam and the GRS almost mirror one another. The distinctive “crown shape” is particularly noticeable.

Where we feel we have an edge over the original Olympic Dam exploration programme is that we now have Audio-Magnetotelluric (“AMT”) technology. AMT allows us to measure resistivity deep into the Earth’s crust, to map rock types and areas of alteration. With the sophisticated modern inversion software available to Kavango, we are able to produce very clearly defined section views. This could prove to be invaluable as we advance this project.

The magnetite lead is also an intriguing one. While KSZDD001 was not targeting the IOCG target, it did (inadvertently) intercept one of the limbs of the magnetic “crown”. The concentration of magnetite encountered corresponds to what could represent a larger zone of magnetite close to the centre of the GRS. If this model proves to be correct it could be a physical indicator of an IOCG system.

What is particularly exciting about the new IOCG target in the GRS is that it is in addition to our existing nickel/copper sulphide model, stacked beneath it. We also continue to rapidly advance this nickel/copper sulphide program and look forward to publishing the next phase of TDEM results.

Meanwhile, there is much more work we need to do on the IOCG target in the coming months. The next steps include publication of the final report of the economic comparables study that we have commissioned and also to complete the next phase of AMT surveys to enhance our model.”

Summary of IOCG exploration theory

Kavango proposes an additional exploration target zone for the Great Red Spot (the “New Target Zone”).  The New Target Zone is in addition to and lies beneath the current target horizon for the Karoo hosted nickel/copper sulphide exploration program.

The New Target Zone meets the criteria of a coincident magnetic and gravity anomaly, that was used by Western Mining in 1975 as sufficient justification to drill their Olympic Dam target.  The Great Red Spot magnetic anomaly inversion is very similar to an inversion of public domain data for Olympic Dam, in terms of size and morphology.

The New Target Zone has also exceeded these criteria with the addition of long 8km Audio-Magnetotelluric profiles, which have identified resistivity changes that could relate to the identification of alteration within the GRS.

An IOCG model was first proposed for the GRS in the late 1990’s.  The addition of new geophysical data and inversion technologies have greatly enhanced this opportunity, by providing new resolution in detail and depth on this target.

Kavango commissioned an independent economic comparables study to test the viability of the New Target Zone as a viable economically interesting target.  The draft report confirms this and Kavango will release the final report on completion.


Geological Setting

The Great Red Spot is on the western margin of the Kaapvaal Craton, which Kavango interprets as a promising location for magmatic intrusions and mineralising systems. It lies at the nexus of 4 interpreted regional geological structures.

Kavango’s interpretation of available regional data leads the Company to conclude that the Great Red Spot is located in an enhanced position for the potential for multiple ore deposit models, including both the IOCG and Ni/Cu magmatic sulphide systems.


Idealised IOCG model and Olympic Dam summary

IOCG systems are often multi-kilometre mineralised “overprints” of local host rocks. They can vary a great deal in their composition but do share several common characteristics. IOCG systems are known as “alteration” systems, meaning that mineralisation formed during hydrothermal phase transitions. These hydrothermal phases are driven by deep magmatic intrusives that act as heat sources.  This means, an IOCG system can “overprint” the host rock lithology with both alteration and mineralization.

Typically, IOCG systems feature both hematite and magnetite alteration zones (forms of iron oxide), which can host copper, gold, cobalt, silver and uranium.

Olympic Dam comparison with the Great Red Spot

Olympic Dam is a large multi-kilometre scale IOCG alteration system that was discovered by Western Mining in 1975. It has been mined and extensively studied.  Although Olympic Dam is considered unique, IOCG deposits are numerous and many are mined.

The New Target Zone at the Great Red Spot was first proposed in the late 1990s.  The addition of new geophysical data and modern inversion technologies have greatly enhanced this opportunity, by providing better resolution of the target in detail and to depth.

Kavango has used three separate data sets to develop its geophysical model for the New Target Zone, including:

–  Airborne Magnetic data

–  Ground Gravity data

–  Ground AMT data

The New Target Zone includes a coincident magnetic and gravity anomaly closely comparable to the one that was used by Western Mining in 1975 as the basis for testing the Olympic Dam target.

Kavango believes its use of AMT technology provides the Company with a more robust exploration model than the one used by Western Mining. AMT technology was not utilized at Olympic Dam and recent developments in inversion software have made the exploration technique even more powerful.

AMT sections taken by Kavango over the GRS indicate complexities below 950m within the Proterozoic host rocks, which the Company believes may represent initial indications of possible IOCG-style alteration zones.

Given the interpreted complexity and size of the possible alteration zones Kavango has identified using AMT, the Company needs to carry out further work to resolve each zone to allow for more effective targeting of potential mineralization.

Further AMT surveys have been commissioned and the Company will release results once processed.

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce a heavily oversubscribed £750,000 placing at 3p per share. This represents no discount to the offer price of Kavango’s shares at close on Friday 06 May.


–  Placing:

–  25,000,000 New Ordinary Shares (the “Placing Shares”) have been placed by First Equity Limited (“First Equity”), on behalf of the Company with institutional and other investors (the “Placing”)

–  The Placing has been conducted at a price of 3p

–  A one-for-one warrant will be issued to all placing participants, exercisable at 5p per share for a period lasting until 31 December 2023 (the “Warrants”)

–  The Company has raised gross funds of £750,000


Ben Turney, Chief Executive Officer of Kavango Resources, commented:

“We received an offer from First Equity on Friday to raise money for Kavango over the weekend. We set a maximum limit of £750,000 and received offers to subscribe for nearly double this amount.

At this stage in Kavango’s development, the additional working capital will support expanding our exploration programme. We are also conscious to manage dilution at this level. A number of work streams are nearing completion and we will be able to deploy the new funds quickly.

We would like to thank First Equity and their clients for their strong support .”



The 25,000,000 New Ordinary Shares have been conditionally placed by First Equity Limited on behalf of the Company with institutional and other investors, including high net worth and retail investors, to raise £750,000.

Each New Ordinary Share has, on a one-for-one basis, a warrant attached exercisable at 5p for a period lasting until 31 December 2023. The warrants are subject to headroom approval and are expected to be issued around July 2022 to subscribers.


Admission and Total Voting Rights

Application will be made for the Placing Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”).  It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00 a.m. on 23 May 2022 (or such later time as may be agreed between First Equity and the Company being not later than 5.00 p.m. on 31 May 2022 (the “Long Stop Date”).

Following Admission, the total issued share capital of the Company will consist of 435,462,052 Ordinary Shares. Therefore, the total number of voting rights in the Company is 435,462,052 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company.


Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.


For further information please contact:

Kavango Resources plc   

Ben Turney


+46 7697 406 06

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker) 

+44 1483 413500

Nick Emerson

#TM1 Technology Minerals – Appointment of Chief Financial Officer

Technology Minerals Plc (LSE: TM1), the first UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce the appointment of James Cable as a director and Chief Financial Officer (“CFO”) of the Company with immediate effect.


James has extensive experience of investment evaluation and financial transformation across several industries, including 28 years in natural resources. Qualifying as a chartered accountant at Turquands Barton Mayhew & Co (now Ernst & Young), James has curated a strong background in natural resources with international experience in mining, oil and gas, construction, and other industries. James also has a strong background in public markets including fundraising, M&A and corporate strategy.  


James has held senior positions across a variety of companies, including roles as Finance Director at AIM listed Alien Metals Limited (formerly Arian Silver Corporation) followed by serving as a non-executive director, and AIM listed Kopane Diamond Developments Plc until it was acquired by AIM listed Firestone Diamonds Limited. In addition, James was previously Finance Director at Mantle Diamonds Limited, before it was acquired by ASX listed Kimberley Diamonds Limited. Early in his career, James spent more than 10 years at Mobil Oil Corporation (now ExxonMobil).


Most recently, James has held the position of director and part-time CFO at GemRock Company Limited, an exploration and mining company with assets in Mozambique, where he has been integral to the fundraise of $27 million from private investors, overseeing the financial activities and corporate governance of the company.


Robin Brundle, Chairman of Technology Minerals, said: “We are delighted to bring James on board and welcome him to the team at Technology Minerals. His considerable experience in the mining and natural resources industry as well as his vast board experience will be an asset and drive our strategic growth plans in junior mining and recycling. With a keen interest in recycling, James is enthusiastic about our twin-track strategy to create a circular economy for battery metals. We look forward to seeing James further the business as he heads up our strong accountancy team.”


James Cable, Chief Financial Officer of Technology Minerals, commented: “It is great to be joining the team at Technology Minerals and progressing their vision of a circular economy for battery metals through their junior mining and battery recycling businesses. I look forward to continuing working in the natural resource sector and furthering my knowledge of and interest in recycling as Recyclus scales up their operations.”


The following information is disclosed in accordance with Listing Rule 9.6.13.

James Cable holds or has held the following directorships in a publicly quoted company the past five years:

Past directorships
Alien Metals Limited (BVI) – AIM listed


James Cable was appointed a director of Blue Lias Technologies plc on 21 February 2017 at a time when the company was contemplating seeking admission to trading on AIM.  The company was a non-trading holding company for a South African development-stage technology company. He was a director of Blue Lias Technologies plc until 9 July 2019. On 25 November 2020 a court order to wind up Blue Lias Technologies plc completed.

James Cable was a director of Blue Lias Industries Limited until 9 July 2019. The company was a wholly owned subsidiary of Blue Lias Technologies Plc and was dissolved on 27 October 2020.

James Cable was a director of Primavision Limited which was placed in creditors voluntary liquidation on 10 March 2003.

Technology Minerals confirms that there is no further information to be disclosed under the requirements of Listing Rule 9.6.13 in relation to the appointment of James Cable.




Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

#TM1 Technology Minerals – Proposed Sale of 10% Interest in US Projects

Technology Minerals (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that it has signed a Memorandum of Understanding (“MOU”) for the Proposed Sale (“Proposed Sale”) of an initial 10 per cent interest in the Company’s registered claims in its wholly owned US cobalt/copper projects; the Blackbird Creek Project and Emperium Project (collectively “the Properties”), Lemhi County, Idaho, United States of America, to Bluebird Metals LLC (“Bluebird” or “the Buyer”) for a cash consideration of £900,000. The MOU is legally binding in certain material respects.

Background: Blackbird and Emperium Projects

The Blackbird Creek Project is located within the Idaho Cobalt Belt (“ICB”), a 60 km long metallogenic district characterised by stratiform/tabular Co-Cu deposits. The ICB is hosted in the Mesoproterozoic Belt Supergroup (1,470 Ma and 1,370 Ma), juxtaposed between later Proterozoic (1,370 Ma) quartz monzonitic intrusions. 

The Emperium Project covers approximately 55km² in east-central Idaho, making it one of the largest land positions in the Idaho Cobalt Belt. To date, there has been limited exploration conducted on the property in the form of lithogeochemical (rock) sampling, and satellite image interpretation.

Technology Minerals registered claims in the Properties comprise:

·      158 registered claims comprising approximately 3,175 acres, all located at the Blackbird Creek Property; and

·      694 registered claims comprising approximately 13,720 acres all located in the Emperium Project, Lemhi County, Idaho, United States of America.

The MOU also includes a proposed option for the Buyer to acquire a further 20 per cent interest in the Properties for a further cash consideration of £1.8m. The option will be exercisable within a 6-month period from the date of the signing of the detailed Purchase Agreement regarding the Proposed Sale.

Alex Stanbury, Chief Executive Officer of Technology Minerals, said: “The proposed sale of a minority interest in our US projects is in line with our group strategy to progressively deliver value from our portfolio of junior mining assets. The Blackbird Creek and Emperium Projects form part of our exploration strategy to advance assets up the value chain with the aim of creating additional value in the Company for our shareholders.”

Related Party transaction

The Proposed Sale and grant of option are deemed to be related party transactions for the purposes of DTR 7.3 as Chang Oh Turkmani, a beneficial owner of the Buyer, is also a Non-Executive Director of Technology Minerals Plc and beneficial owner of 55,555,556 ordinary shares amounting to 4.37% of the issued shares in the Company.


The Directors of the Company accept responsibility for this announcement.


For further information please contact:


Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

#SVML Sovereign Metals – ASX Trading Halt

Sovereign Metals Limited (ASX:SVM; AIM:SVML) (Sovereign or the Company) advises that today the Company requested an immediate voluntary trading halt in its shares on the Australian Securities Exchange (ASX), pending an announcement regarding a capital raising.

The Company has requested that the trading halt remain until the earlier of an announcement to the market regarding the above or the opening of trade on ASX on 2 May 2022.

Trading in the Company’s ordinary securities will continue to trade as normal on AIM during this period.



Dr Julian Stephens (Perth)
Managing Director

+61(8) 9322 6322

Sam Cordin (Perth)
+61(8) 9322 6322

Sapan Ghai (London)
+44 207 478 3900



#ECR ECR Minerals – Further re Exercise of Warrants Announced on Friday 22nd April 2022


(“ECR Minerals”, “ECR” or the “Company”)

Further to the announcement of 22 April 2022 regarding a Warrant Exercise the Company provides the following by way of further information.


ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, announces it has received notice to exercise warrants over 20,500,000 new ordinary shares in the Company (“Warrant Shares”). 20,500,000 new ordinary shares are being issued pursuant to the exercise of warrants at 1p per share and aggregate subscription monies of £205,000 have been received by ECR in respect of the exercise of these warrants.

Admission of the Warrant Shares to trading on AIM is expected to occur on or around 27 April 2022 (“Admission”). Upon Admission, ECR’s issued ordinary share capital will comprise 1,064,464,551 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission of the Warrant Shares, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.


The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.



ECR Minerals plc

Tel: +44 (0) 20 7929 1010

David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO



Website: www.ecrminerals.com

WH Ireland Ltd

Tel: +44 (0) 207 220 1666

Nominated Adviser

Katy Mitchell / Andrew de Andrade

SI Capital Ltd

Tel: +44 (0) 1483 413500


Nick Emerson

Novum Securities Limited

Tel: +44 (0) 20 7399 9425


Jon Belliss


Tel: +44 (0) 207 138 3204

Public Relations

Tim Blythe

#ECR ECR Minerals – Block listing Interim Review



Information provided on this form must be typed or printed electronically and provided to an ris.

(Note: Italicised termshave the same meaning as given in the Listing Rules.)

Date: 19 April 2022

Name of applicant:

ECR Minerals Plc

Name of scheme:

  1. 20 April 2020 Subscription Warrants Scheme
  2. 30 July 2020 Subscription Warrants Scheme
  3. 11 July 2018 Options Scheme

Period of return:


7 October 2021


19 April 2022

Balance of unallotted securities under scheme(s) from previous return:

  1. 26,000,000 ordinary shares in respect of the April 2020 warrants exercisable at 1 pence per share
  2. 32,190,748 ordinary shares in respect of the July 2020 warrants exercisable at 2.1 pence per share
  3. 11,200,000 ordinary shares in respect of the July 2018 options exercisable at 1.125 pence per share

Less: Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G):

  1. 25,906,000 ordinary shares in respect of the 6 April 2020 warrants exercisable at 1 pence per share

Less: Number of securities expired unexercised during the period:

  1. 94,000 ordinary shares in respect of the April 2020 warrants exercisable at 1 pence per share

Equals: Balance under scheme(s) not yet issued/allotted at end of period:

  1. 32,190,748 ordinary shares in respect of the July 2020 warrants exercisable at 2.1 pence per share
  2. 11,200,000 ordinary shares in respect of the July 2018 options exercisable at 1.125 pence per share


Total Voting Rights

The Company confirms that ECR’s total issued ordinary share capital comprises 1,043,964,551

ordinary shares of 0.001p. This number represents the total voting rights in the Company, and, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.


Name of contact:

David Tang

Telephone number of contact:

+44 (0) 20 7929 1010


ECR Minerals plc

Tel: +44 (0) 20 7929 1010

David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO



Website: www.ecrminerals.com

WH Ireland Ltd

Nominated Adviser

Tel: +44 (0) 207 220 1666

Katy Mitchell / Andrew de Andrade

SI Capital Ltd

Tel: +44 (0) 1483 413500


Nick Emerson

Novum Securities Limited

Tel: +44 (0) 20 7399 9425


Jon Belliss


Tel: +44 (0) 207 138 3204

Public Relations

Tim Blythe

Power Metal Resources #POW – Diamond Drilling Commences at the i10 Target – Seeking Rare-Earth Element Carbonatite Intrusives

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolioannounces that diamond drilling has now commenced at the i10 Target (“i10” or the “Target”) located within the Ditau Camp Project (“Ditau”), southwestern Botswana.

The i10 Target is marked by a discrete, circular, geophysical anomaly that is 2.2km in diameter and under an estimated 120m of sand cover. Kanye’s primary objective is to retrieve diamond core to establish whether the Target’s geophysical anomaly is caused by a carbonatite intrusive. Carbonatites are the world’s primary source of rare-earth elements (“REEs”) and other strategic/industrial metals including copper.

The Ditau Camp Project is held by Botswana based Kanye Resources Pty Limited (“Kanye”), which is a 50/50 joint-venture partnership with Kavango Resources plc (LSE:KAV) (“Kavango”) – who are the operators.


–    Drill motivation

–  The i10 Target is highlighted by a discrete circular magnetic anomaly, measuring 2.2km in diameter

–    The Target is interpreted to lie at a shallow depth, below an estimated 120m of Kalahari sand cover – based on Audio-Magnetotelluric (“AMT”) data obtained over i10.

–    Kanye has successfully completed aeromagnetic and AMT inversions over the Target.

–   The Target has been independently verified to conform to an idealised model for carbonatite intrusives, based on its aeromagnetic signature.

–    Idealised Ore Deposit Model

–    I10 is a carbonatite pipe intrusive target

–  Based on the magnetic signature, the Target has concentric “ring-like” lithological zonation, which could relate to rare-earth element mineralised horizons

–  Target lies near the margin of the Kaapvaal Craton, a tectonic context common to other carbonatites globally

–    Drill operations

–    Camp secured, road access and drill pads completed

–    Water borehole successfully drilled and solar powered water pump installed

–   First of two planned drillholes at i10, hole DITDD003, commenced drilling on 15 April 2022, which is targeting the core of the magnetic high and has a target depth of 400m

–    Drilling is being conducted by Mindea Exploration & Drilling Services (Pty) (“Mindea”)

–   The plan is to drill up to six ~400m deep diamond drillholes at Ditau, including 2 drillholes at three separate magnetic anomlies, including i10.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

“I have talked previously about the confidence we hold in the geological prospectivity across our projects in Botswana. That confidence means within an 18 month period, with Molopo, Tati and now Ditau, we have launched three drill programmes.

The Molopo drill programme successfully confirmed the presence of nickel, Tati confirmed the presence of gold and now we seek confirmation of rare earth elements at Ditau. 

To say we are excited about the prospects for our interests in Botswana is an understatement. Let’s see what this drill programme delivers.”

Background Targeting

The Ditau Camp Project is centred around 12 unique geophysical anomalies (targets i1 through i12), which Kanye believes could be caused by possible carbonatites and/or intrusive complexes that may host rare-earth element mineralisation.

Targets i1 – i12 are seperated into two main target types:

1)    Discrete kilometre-scale carbonatite pipe targets, and

2)  Larger, multi-kilometre scale intrusive complex targets that may also be host to carbonatites and/or mafic intrusive bodies prospective for base-metal mineralisation.

The 12 Ditau geophysical targets are not known to have been drill tested for either REEs or base-metal mineralisation historically. Kanye originally identified these targets, which range in size from 1km to 20km in diameter, using interpretation of airborne magnetic data. To date, Kanye has used combined airborne- and ground-magnetic, and AMT surveys in the exploration at Ditau.

Target i10

Kanye believes the i10 Target anomaly could be caused by a discrete, 2.2km wide carbonatite pipe. The Target is interpreted as a simple, single phase carbonatite pipe with a possible outer ring indicated by a weak magnetic low ringing the main magnetic high feature.

A 3D inversion of the aeromagnetic data with an AMT section overlay of the I10 Target can be found at Kavango’s website at the link below:


Based on analysis of the AMT data over i10, the Kalahari sand cover is estimated to be roughly 120m thick. The magnetic inversion results confirm that the primary target zone lies just underneath this sand cover.

To confirm the current geophysical interpretation of the i10 Target, Kanye is currently planning to drill two diamond drillholes into i10. The first drillhole, which is currently underway, will target the core of the magnetic high, while the second hole is designed to test the edge of the geophysical anomaly.

Target i10 Idealised Ore Deposit Model

In the analysis of geophysical data over i10, Kavango has used the rare-earth element bearing Kangankunde carbonatite pipe (“Kangankunde”) located in Malawi as a model.

Kangankunde is one of the largest carbonatites within the Chilwa Alkaline Province (“Chilwa”) at ~1.5km in diameter. Chilwa is a roughly 300km in diameter, and is comprised of Late Jurassic-Early Cretaceous alkaline rocks with clusters of carbonatite pipes – including Kangankunde.

At the surface, Kangankunde forms a low hill, which rises approximately 200m above the surrounding plains, with lower slopes composed of fenitised and locally fractured (brecciated) rocks with the upper slopes predominantly of carbonatite intrusive rocks.

Although the i10 target is buried under roughly 120m of Kalahari sand cover, Kanye’s geological team believe that the geophysical signatures are comparable to that of Kangankunde. The highlight the various similarities, a geological map of Kangankunde can be found on Kavango’s website at the link below:


Carbonatites can exhibit significant lithological and structural variation, both between and within individual pipes. As such, to maximise the chances of exploration success in exploring for carbonatite hosted REE deposits, it is common practice to drill multiple boreholes along a fence pattern into a single target. The geological map of Kangankunde illustrates its concentric geological complexity and therefore the necessity for drilling multiple drillholes within i10 to elucidate the geology and locate potential indicators of REE or base-metal mineralisation.

Ongoing Drilling Operations

The drill camp has been constructed. All supporting equipment and key personnel are currently  located on site.

Kanye has successfully drilled a 180m deep water borehole, which should yield enough water to support ongoing drilling operations. A solar powered pump has been installed and is currently operational.

Road access between the drill camp, drill collar locations and water sources is also complete.

Drilling operations successfully commenced on Friday 15 April 2022. In total, Kanye expects to drill up to 6 diamond drillholes as part of the current campaign (totalling ~2,400m). Each hole has an anticipated target depth of 400m, and Kanye aims to test 3 of the 12 geophysical targets as part of the ongoing drilling campaign.

Kanye and its contractors have designed the current Ditau drill campaign to be flexible and guided by ongoing visual results. Kanye will release field and laboratory results on the current planned 6-hole drill campaign once all data has been received, processed and verified.

Contingent on results from the ongoing drilling campaign, Kanye has identified a further 17 drill collar locations for future drill testing across all 12 geophysical targets/structures at Ditau.

Regional Geological Setting

Carbonatite intrusives often occur in swarms or clusters, oriented along favourable and clearly defined deep continental scale geological and structural trends. The 12 geophysical structures at Ditau occur within a southwest-northeast oriented corridor, part of the same corridor that host the Mabuasehube and Kokong kimberlites. Desktop analysis of regional geological and geophysical data by Kanye’s geologists suggest that this trend is sub-parallel to other corridors that host other kimberlite groups in Botswana and northwest Angola. In the latter, these trends are known to host both kimberlite and carbonatite intrusives, meaning that the presence of one is a strong indicator for the other.

In addition to the known presence of kimberlites within the geological corridor where Ditau is located, and further enhancing the prospectivity for Carbonitites on the Project, there is a small known cluster of carbonatite intrusives including KW2, Definite, KS12 and KS36 (the “Falconbridge Carbonatites”) which are located near to the Project. The Falconbridge Carbonatites were drilled by Falconbridge Exploration Botswana (Pty) Ltd in the late 1970s and early 1980s, to the immediate north of and 30km along strike to the northeast of the Ditau Project.


The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883



Power Metal Resources plc – Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.


Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:




Work Completed or Underway

Results Awaited

Alamo Gold Project


Earn-in to 75%

Excavation of multiple test pits and mapping & sampling.

Field and assay results from on-site work programme.

Athabasca Uranium



Data compilation across uranium properties

Interpretation results from all Properties complete. Next steps upcoming.

Authier North Lithium


Earn-in to 100%

Soil & rock sampling completed

Technical Review of exploration results & define next exploration steps.

Ditau Project



Drill programme focused on key targets notably drilling of potential carbonatites and targeting rare-earth elements.

Field updates and receipt & review of laboratory assay results.

Kalahari Copper Belt



Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas

Field programme findings and defined drill targets for near term drilling.

Molopo Farms



Review of recent exploration findings.

Determine next exploration steps and action plan.

Haneti Project



Diamond drill programme completed

Receipt & review of laboratory assay results.

Victoria Goldfields



Diamond drill programme underway


Field updates and receipt & review of laboratory assay results.

Paterson Projects



Wallal passive seismic and 2D seismic processing work programme completed.

Review of historical data and target generation for Ripon Hills & Braeside West projects.



Findings from multiple work programmes including final approvals and preparations for planned deep diamond drilling.

Selta Project



Field reconnaissance work now underway, including mapping and sampling.

Field updates.


Tertiary Minerals #TYM – Pyramid Drilling Update

Tertiary Minerals plc (LON: TYM), the AIM traded mineral exploration and development company, whose strategic focus is on energy transition and precious metals, hereby announces results from the Company’s recent drill programme at the Pyramid Silver‑Gold Project in Nevada. In summary, drilling at the North Ruth target has not, to date, demonstrated significant mineralisation at depth.

Follow the link to view the announcement in full including Figure 1 here.


  • A programme of soil and rock chip sampling and trenching was conducted in phases throughout 2021 which established wide intervals of significant silver and associated gold mineralisation at surface at North Ruth along a zone over 500 metres in length;
  • Additional trenches were excavated in February 2022, providing additional evidence for the surface extent of the mineralised zone;
  • Reverse circulation (RC) drilling, comprising 6 holes for a total of 1,050 metres (3,445 feet), was completed in early March 2022 in order to explore the potential continuation of this mineralisation at depth;
  • The drilling completed has not, however, returned favourable results and the continuity of mineralisation at depth has therefore not yet been established. The Company will now spend some time reviewing these results in more detail, while at the same time continuing its activities on its other exploration projects in Nevada and in Zambia.

Commenting today, Managing Director Patrick Cullen said:

“The surface sampling and trenching completed throughout 2021 and early 2022, as well as the presence of extensive historic underground workings in the area, confirmed North Ruth as a drill target that warranted drilling.

We executed a limited and cost-effective drill program, utilising RC, to determine if the mineralisation is present at depth but the results have been disappointing. A detailed analysis of the results will be needed before any further exploration is undertaken. Indications are that localised supergene enrichment of silver has resulted in the grades observed at surface.

In the meantime, progress has been made with permitting at our Brunton Pass Copper Project, also in Nevada, and we will recommence activities there soon. In addition, we have already begun field work on the Jacks Copper Project in Zambia and expect to commence drilling in late April or early May 2022.

For more information please contact

Tertiary Minerals plc:
Patrick Cullen, Managing Director +44 (0) 1625 838 679
SP Angel Corporate Finance LLP – Nominated Adviser and Broker
Richard Morrison +44 (0) 203 470 0470
Caroline Rowe
Peterhouse Capital Limited – Joint Broker
Lucy Williams + 44 (0) 207 469 0930
Duncan Vasey


Note to Editors

Tertiary Minerals plc (LON: TYM) is an AIM traded mineral exploration and development company whose strategic focus is on energy transition and precious metals. The Company’s projects are located in stable and democratic, geologically prospective, mining-friendly jurisdictions. Tertiary’s principal activities are the discovery and development of copper, gold and silver resources in Nevada and in Zambia.

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.

Detailed Information


The Pyramid Gold-Silver Project was established through a lease agreement, targeting epithermal gold and silver mineralisation at the northwest end of the prolific current and past producing Walker Lane Mineral Belt.

The Company conducted systematic exploration at Pyramid undertaking extensive soil sampling, rock-ship sampling, mapping, and three phases of trenching over soil anomalies between April 2021 and February 2022. At the North Ruth target, surface silver and gold mineralisation was demonstrated to extend over a strike extent of at least 530 metres, with a zone width of up to 59 metres and yielding up to 595 g/t silver (17.35 ounces/ton) and 0.66 g/t gold (Announcement dated 14 October 2021).

Drill Programme

Envirotech Drilling LLC (“Envirotech”) of Winnemucca, Nevada were contracted to conduct RC drilling and commenced on 8 March, operating on a 24-hour basis until completion on 13 March 2022. The program was designed to test continuity of mineralisation at depth and along strike at the North Ruth target and comprised 6 holes (NR-01 to 06) for a total of 3,445 feet (1,050 metres).

RC samples were collected on 5-foot (1.52 metre) intervals providing 689 samples. 39 Field duplicates were collected throughout sampling. Additionally, 41 certified reference materials (“CRMs”) and 40 blanks were inserted into the sample run. Significant drilling results are shown in Table 2. Upon completion of a drillhole International Directional Services (“IDS”) performed downhole surveys using a gyroscopic survey tool to record azimuth and dip deviation. Collar locations were surveyed by handheld GPS and where two collars are adjacent, their relative position estimated to nearest metre.

Figure 1 below shows the collar locations for the holes drilled, Table 1 lists the collar coordinates and drillhole azimuths and Table 2 the most significant results.


(This figure, along with the announcement in full, can be viewed here.)


Figure 1: Location of RC drill holes NR-01 to NR-06 relative to rock chip samples and trenches. Historic underground activities are also indicated.


NR-01 273863 4415628 1352 152.4 218 -45 225 -55
NR-02 273864 4415629 1352 219.5 217 -55 227 -58
NR-03 273916 4415597 1347 193.5 223 -46 234 -56
NR-04 273918 4415594 1347 214.9 205 -45 213 -45
NR-05 274075 4415284 1394 121.9 045 -60 046 -64
NR-06 273991 4415322 1362 147.8 044 -55 044 -63

Table 1: RC collars, azimuths and inclinations


DHID From (ft) To (ft) Interval (ft) From (m) To (m) Interval (m) Au (ppm) Ag (ppm)
NR-05 195 200 5 59.4 61.0 1.5 0.697 81
NR-05 170 175 5 51.8 53.3 1.5 0.089 18
NR-06 240 245 5 73.2 74.7 1.5 0.003 18
NR-06 15 20 5 4.6 6.1 1.5 0.249 16
NR-06 25 30 5 7.6 9.1 1.5 0.088 16

Table 2: Significant1 silver drill intersections

Holes NR-01, NR-02, NR-03 and NR-04 were designed to intersect targets beneath the highest grade surface mineralisation in Trench 1, Trench 1 Ext and Trench 8. No significant intersections are noted. Minor intersections are noted in holes NR-05 and NR-06 which were drilled towards to the southern extent of the North Ruth target.

At this stage the discrepancy between surface and drill results in not explained and further evaluation is required. Faulting or surface enrichment are possible explanations.

Phase 3 Trenching

The Company also conducted a further, short program of trenching, comprising 3 trenches in February 2022 while drill pad and access construction was underway. Field observations and assay results continued to confirm the presence of mineralisation at surface and supported the plan to drill. The Samples collected from the trenches were prepared and analysed by Paragon using the same methods as previous phases3. Significant intersections are presented below.

Trench From (m) To (m) Interval (m) Ag (g/t) Au (g/t)
2b 42.67 46.63 3.96 20 0.30
14 3.05 9.14 6.09 18 0.09
14 13.41 17.37 3.96 41 0.33
14 61.57 64.62 3.05 16 0.29


Drill Sample Analysis and QA/QC

Drill samples were collected on-site by Paragon Geochemical (“Paragon”) and transported under chain of custody to their facility in Reno, Nevada for sample preparation and analysis. Samples were prepared using code PREP-PKG where samples were crushed to 70% passing 10 mesh (2000 micron) and 1 kilogramme riffle split and crushed to 85% passing 200mesh (74 micron).

RC material was sampled over continuous 5 foot (1.53 metre) intervals. Gold and silver were analysed by method Au-AA Ag-GR, a 30g fire assay with gravimetric finish for silver and an atomic absorption spectroscopy finish for gold. As routine, Paragon implemented internal QA/QC procedures which were reviewed by the Company and are considered acceptable.

The Company implemented its own QA/QC protocol which involved field insertion of greater than 5% blanks, greater than 5% field duplicates and greater than 5% CRMs. QA/QC samples were inserted blind and assigned the same continuous sample number sequence as original samples. Two different CRMs were used to access both high- and low‑grade material. A review of assay results from the Company’s QA/QC inserts were found to be acceptable.



  1. ‘Significant’ is defined as a minimum 2 metres width of sample grading a minimum of 15 g/t silver or 0.25 g/t gold in trenching and surface sampling. A width of 1.52 metres (5 feet) is applied for RC drilling in Nevada which relates to the standard sampling width. Narrow lower grade material may be included where they are internal to the reported intervals. Reported thicknesses of drill intersections are thicknesses measured downhole and therefore cannot be considered true thickness.


  1. Units:         

Rock samples reported in g/t = grammes/tonne

1 g/t = 0.029167 ounce/ton (i.e. troy ounces/US ton)

1ppm = 1 g/tonne

1 (Troy) ounce =31.105 g


  1. Trench samples were collected by consulting Geologist Ivan Johnson as continuous chip samples over a maximum of 10 feet per sample. Samples were transported under chain of custody to Paragon Geochemical facilities in Reno, Nevada, for sample preparation. Samples were crushed to 85% passing 200mesh using method PREP-RMB. Gold was analysed by method Au-AA30 which comprises 30g fire assay with aqua regia digest/AAS finish. Multielement analysis (including Ag) was performed using method 33 MA-OES which comprised a 4-acid digest with ICP/OES finish. Ag overrange analysis was performed using method Ag-Gr50, a 30g fire assay with gravimetric finish. Paragon carries out duplicate, and standard and blank materials analysis as part of its internal QA/QC procedures. Grades reported above are weighted average grades of samples taken over varying widths from within the reported intervals.


  1. The information in this release has been reviewed by Mr. Patrick Cheetham (MIMMM, M.Aus.IMM), Executive Chairman of Tertiary Minerals plc, who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.


  1. The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

Alan Green covers a trading update from #MOON Moonpig, a new appointment by #ECR ECR Minerals and #BRES Blencowe Resources Jorc update on the Vox Market Podcast

Alan Green covers a trading update from #MOON Moonpig, a new appointment by #ECR ECR Minerals and #BRES Blencowe Resources Jorc update on the Vox Market Podcast

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