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Power Metal says drilling at Molopo off to encouraging start

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Power Metal Resources PLC (LON:POW) said drilling at its first hole at Molopo Farms Complex in is progressing well and it looks forward to giving further updates.

The AIM-listed junior will earn an additional 40% direct interest in the MFC Project by funding US$500,000 of exploration expenditure this calendar year, which will take its effective economic interest in Molopo to 50.96%.

Paul Johnson, Power Metal’s chief executive, said results thus far support the geophysical model for an intrusion feeder zone, which could host the potentially mineralised conductive bodies it is targeting with the drilling programme.

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