Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the identification of an electromagnetic (EM) anomaly in Target Area C in the Hukuntsi (northern) section of the Company’s Kalahari Suture Zone (“KSZ”) Project.
Designated Target C1 (“C1”), the conductive anomaly is located 11km from Target A2 (“A2”), which was first announced on 20 April 2020.
C1 and A2 appear to lie within the same geological corridor. The Company now plans to drill a minimum of one hole in A2 and a minimum of one hole in C1. Drilling is to commence at the end of June.
Both A2 and C1 lie in ‘Norilsk-style’ gabbro keels. The primary objective of both holes is to recover drill core from the bottom of the keels for further analysis to test the system’s potential to host major metal sulphide deposits.
Highlights
Target C1
– 11km NE of Target A2
– Kavango believes A2 and C1 lie in the same geological corridor of Karoo-age gabbro, which is open in both directions
– The conductor is 1,200m by 1,600m and sits at the bottom of a keel as defined by the Company’s 3D Geological Model
– 530m depth from surface to centre of the conductor
– The decay constant is ~360msec
– Conductance of 2,500 Siemens
Drill plan:
– Drill operator is Mindea Exploration and Drilling Services (Pty) (“Mindea”)
– Mindea to set up camp between Targets A2 & C1
– Drilling at A2 to commence in June
– Drilling to commence at C1 in July
– Kavango to pay half its fees in equity from Kavango.
Links to the relevant announcements are provided below:
8 September 2020 – https://www.investegate.co.uk/kavango-resources–kav-/rns/3d-model-confirms-ksz-norilsk-rock-formations/202009080700072794Y/
30 November 2020 – https://www.investegate.co.uk/kavango-resources–kav-/rns/4-norilsk-style-target-areas-selected-in-the-ksz/202011300700068179G/
5 May 2021 – https://www.investegate.co.uk/kavango-resources–kav-/rns/ksz-tdem-update-and-warrant-exercise/202105051000016206X/
10 June 2021 – https://www.investegate.co.uk/kavango-resources–kav-/rns/ksz-hukuntsi—drilling-to-commence-in-june/202106100700094047B/
About Target A2
Kavango estimates Target A2’s properties are:
– 1km length, which is open along strike
– Extends between 250m to 700m below surface and is gently dipping
– Decay constant of approximately 340msec and conductance of approximately 3000 Siemens, readings which Kavango management considers are consistent with nickel sulphide deposits elsewhere in the world
– Located in the right geological setting, at the bottom of a “keel” in the gabbroic intrusion, according to the Company’s Magnetic 3D-Model (8 September 2020)
About Target C1
Kavango estimates Target C1’s properties are:
– 1,200m by 1,600m in size
– 530m depth to centre of the conductor
– Decay constant of approximately 360msec and conductance of approximately 2,500 Siemens
– Located in the right geological setting, at the bottom of a “keel” in the gabbroic intrusion, 11km away from A2 (potentially in the same geological corridor of Karoo-gabbro)
Kavango Competent Person Statement
The information in this press release that relates to “geological and/or geophysical results” for the LVR Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc.
