Evrima Plc Investee Update: Kalahari Key, Drill Programme Results

 
TIDMEVA 
 
27 April 2023 
 
                                  Evrima plc 
 
                          ("Evrima" or the "Company") 
 
   Investee Update: Kalahari Key, Molopo Farms Complex, Botswana - Programme 
                                    Results 
 
Evrima plc, the investment issuer focused on structuring investment 
transactions in the mining and junior exploration has received a project-level 
update in respect of assay results, from the sole operator of Kalahari Key 
Mineral Exploration Pty Limited ("Kalahari Key")  and its Molopo Farms Complex 
project ("MFC"), AIM-listed Power Metal Resources plc (AIM: POW). 
 
Power Metal has today provided an update on the results 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 full update can here seen here: 
 
https://www.londonstockexchange.com/news-article/POW/ 
molopo-farms-complex-botswana-programme-results/15933619 
 
Key highlights from Power Metals are as follows: 
 
  * During the 2022/2023 diamond core drilling campaign Power Metal 
    successfully completed a total of 2,402.8m of drilling across five 
    drillholes targeting four individual target areas including: 
 
  * DDH1-6B (650.2m), DDH1-6B(2) (300.2m), DDH1-14B (519.1m), DDH1-3 (450.1m) 
    and DDH2-3 (483.2m). 
 
  * Drilling at all target areas (T1-6, T1-14, T1-3, T2-3) was designed to test 
    geophysical conductors identified by the time-domain electromagnetic 
    ("TDEM") geophysics surveys completed by Power Metal earlier in 2022. 
 
  * Multiple drillholes successfully intersected mineralised pyroxenites which 
    returned anomalous precious metal (gold (Au) + platinum (Pt) + palladium 
    (Pd)) mineralisation including 2.3m @ 0.56 g/t Pt+Pd+Au & 0.17% Ni from 
    497.2m downhole, including 0.8m @ 0.81 g/t Pt+Pd+Au & 0.18% Ni from 498.7m 
    downhole, in drillhole DDH1-6B. 
 
  * Downhole electromagnetic ("EM") survey completed on drillhole DDH1-14B 
    indicates that the superconductor targeted lies beyond the depth of the 
    current end of hole (519m) at a projected downhole depth of approximately 
    610m. Conductivity depth imaging completed previously under-estimated the 
    depth to the central part of this conductor.  DDH1-14B would therefore need 
    to be extended to intersect the superconductor target. 
 
  * The 2022/2023 results achieved for nickel and precious metals are in line 
    or exceed some of the highest results achieved from the minimal historical 
    exploration that has been completed within the Molopo Farms Complex, and 
    although these grades are currently not a levels permitting economical 
    extraction, they are very encouraging. A detailed overview of the geology, 
    historical exploration, and next steps are included in the body of this 
    release and interested parties are encouraged to read through the below 
    section in its entirety. 
 
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

April 27, 2023 12:03 ET (16:03 GMT)