Evrima Plc Investee Update: Kalahari Key, Drill Programme Complete

 
TIDMEVA 
 
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. 
 
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): [e-mail] 
 
Simon Grant-Rennick (Executive Chairman): [e-mail] 
 
Novum Securities Limited (AQSE Corporate Adviser): 
 
David Coffman / George Duxberry: + 44 (0) 20 7399 9400 
 
 
 
END 
 
 

(END) Dow Jones Newswires

February 07, 2023 10:06 ET (15:06 GMT)