http://www.*.com.au/genera//img/companies/news/africa_globe_358_57e33d6165bf8.jpg Botswana Metals Ltd's (ASX:BML) joint venture partner, BCL Limited, has intersected further sulphides in regional drilling at Takane.
The diamond drilling is targeting nickel-copper-cobalt-PGM's, and is located in a known mineralised region.
Around 10 kilometres away is the Maibele North project, also a joint venture with BCL, which currently hosts a JORC Resource of 2.38 million tonnes at 0.72% nickel, 0.21% copper and 0.63g/t of PGE, plus gold. The resource is expected to grow in the near-term.
Any discovery from the new drilling would transform the Magogophate Shear Zone into a new mineralised province in Eastern Botswana.
Latest results at Takane
The first hole, MTDD 003, has hit further zones of disseminated sulphides between 362 metres and 410 metres.
The second Hole, MKDD001, has intersected sulphides at 232 metres and 263 metres.
Adding interest, pyrrhotite and chalcopyrite (copper sulphide) has been identified in all sulphide zones.
Analysis
The first two holes of the three hole program have successfully intersected a number of disseminated and stringer sulphide zones containing chalcopyrite and pyrrhotite - or iron sulphides associated with nickel mineralisation at Maibele North.
The third hole in the program is underway at Kudu 1 and is currently at 24 metres, with the target a very strong EM conductor associated with an ultramafic rocktypes and a strong magnetic response reminiscent of pyrrhotite at around 390 metres.
The mineralised cored intersections will be assayed at an independent laboratory to determine if the sulphides are carrying nickel, copper, cobalt and PGE's.
New flow will increase for Botswana Metals Ltd, and with a market cap circa $4 million, the company is leveraged to exploration results.
Maibele North
BCL continues to show commitment to advancing mining projects, and has already elected to proceed to a Bankable Feasibility Study at Maibele North, with the view of applying for a mining licence to mine Maibele North as an open pit.
BCL owns mining and smelting operations, 55 kilometres away, and has mined 175 million tonnes to a depth of 1 kilometre over 50 years.
The smelter is economically significant to Botswana, as it supports a town of over 50,000 people and employs locally 5000 people.
BCL is hungry for ore as existing resource is depleting.
BML Price at posting:
0.3¢ Sentiment: None Disclosure: Held
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