Kalahari Key Minerals Exploration Pty Limited

Kalahari Key is a private mineral exploration company registered in Botswana, engaged in the development of its Nickel-Copper-Platinum Group Metals (Ni-Cu-PGM) project called the Molopo Farms Complex (“MFC”). The Company is currently interested in 3,802 shares Kalahari Key.

In September 2020, the company already a minority shareholder of Kalahari Key (2.4% investment interest) engaged in commercial discussions with two of the four founders of Kalahari Key. The result of the discussions led to the company entering an option agreement with two of the four founders.

In November 2020, the company formally exercised their option to acquire a further 17.2% of Kalahari Key at a cost of £138,000 with the consideration satisfied through the issue of 2,300,000 new ordinary shares allotted at the price of £0.06 (six pence) per share (“Consideration Shares”).

View Nov 2020 Announcement

In May 2022, Power Metal Resources Plc acquired an additional 58.7% interest in the share capital of Kalahari Key and became the operator of the project. the company retained its holding In KKME.

Licenses Power Scaled Image

The primary target for KKME is Ni-Cu-PGM mineralisation in the geophysical delineated major ENE-WSW Jwaneng-Makopong Shear/Feeder Zone through the centre of the MFC which covers 1,723 km2.

15th August 2022

Ground-based electromagnetic geophysics surveys now complete, covering areas hosting 2020/2021 diamond drillholes KKME 1-14 (“K1-14”) and KKME 1-6 (“K1-6”).

Preliminary survey results have highlighted a large shallow dipping magnetic conductor at drillhole K1-6.

Plotting of drillhole K1-6 shows that the drillhole penetrated the edge of the newly identified magnetic conductor at a similar stratigraphic level to nickel-sulphide mineralisation averaging 7.0m @ 0.443% Ni from 445m, including 0.6m @ 1.69% Ni, 0.55g/t Pt & 0.14g/t Au from 446.7m downhole.1 This is within a broader mineralised interval from 294.7 (when pentlandite was first logged – assay result of 6606ppm Ni from 294.7 – 295.28m) to the end of the hole at 597.8m (minor sulphides logged – assay result 2852ppm Ni from 597.0 – 597.8m).

Planned 2022 diamond drill programme start date now being brought forward. The upcoming programme will now focus on testing the central and stronger part of this magnetic conductor. At present the plan is to drill 6 drillholes for approximately 2600m during this upcoming programme.

A map highlighting a location plan map of the Project (Fig.1) as well as a zoomed out (Fig. 2) and zoomed in (Fig. 3) cross-section of the MLEM results over target area K1-6.

Figure 1
Project Plan Map
Figure 2
Zoomed Out Conductivity
Figure 3
Zoomed In Conductivity

4th August 2022

Spectral Geophysics were mobilised to the project to conduct two electromagnetic geophysics surveys to facilitate the precision targeting of planned diamond drill holes.

KKME 1-6

MLEM survey to aid in the further refinement of the original electromagnetic (“EM”) geophysics anomaly that was targeted by drilling in 2021. Results from the survey will allow for optimum drillhole siting for the 2022 drilling programme.

KKME 1-14

MLEM survey to provide higher resolution and further refinement of the original EM response, aiding the effective siting of future drill holes.

21st July 2022

Phase 1 proof-of-concept drilling successfully demonstrated the validity of the geological model developed, identifying a magmatic feeder zone which is prospective for the accumulation of Ni/PGE sulphides within the MFC project.

KKME 1-6

Drilling returned nickel values up to 1.69% Ni with 0.55g/t Pt and 0.14g/t Au over 0.6m from 446.7m downhole, within layered ultramafic rocks of the Molopo Farms Complex 1,2.

KKME 1-14

Drilling intersected carbonaceous mudstones at depth 3 which, although highly conductive, were determined to be flat lying and therefore did not explain the anomaly which was indicative of a shallower, steeply dipping body.

Drill Results