Announcement Date: 2022-10-11
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Power Minerals Ltd.
Project name: Santa Ines
Location: Argentina
Commodities: Copper
Highlight: Drilling results incl. 26m at 0.6% Cu from 62m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Diversified minerals company Power Minerals Limited (ASX: PNN) (Power or the Company) is pleased to announce results from the maiden first-pass drilling program at the Santa Ines Copper-Gold Project in the Salta province of north-west Argentina (the Project). Power completed a first-pass drilling program at the Project in May 2022, comprising five diamond core holes for a total 651.4 metres (ASX announcement, 31 May 2022). Drilling was designed to target structures and mineralisation below historical surface workings, and also a separate, un-explored shallow magnetic target. The program delivered positive results, highlighted by a broad zone of near-surface copper mineralisation of; 26 metres at 0.60% copper from a downhole depth of 62 metres in drillhole PNSI22-00526. Drilling identified a number of structural zones with elevated copper and gold, and copper and trace gold were intersected in all targeted zones. Elevated zinc was also reported in drillholes and surface Based on the positive outcomes of the initial phase of drilling, the Company plans to review its geological interpretation of the Santa Ines Project along with regional geophysical datasets to identify additional iron-oxide-copper-gold (IOCG) exploration targets. This may be followed-up with geophysical surveys (ground magnetic or aeromagnetic) to define exploration targets for a potential second phase of drilling.
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