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(Sharecast News) - Power Metal Resources said on Monday that prospecting licence 311/2016 at its Molopo Farms Complex project in Botswana had been renewed for two years and was now valid until 31 March 2028.
The AIM-traded company said drilling had also started on a 1,600-metre core programme targeting five geological and geophysical targets on the eastern feeder zone, as it seeks a district-scale nickel and platinum group element discovery.
Chief executive Sean Wade said Power Metal remained "completely committed to the Molopo Farms Project" and was "optimistic that this campaign will build on the significant body of work that has already taken place there and that a district-scale discovery remains within our reach."
At 1436 BST, shares in Power Metal Resources were up 1.81% at 12.35p.
Reporting by Josh White for Sharecast.com.
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