Kavango Resources plc (LSE:KAV) is pleased to announce successful completion of exploration hole DITDD004.
DITDD004 was drilled to a depth of 389m into the i10 Target, a discrete 2.2km diameter magnetic anomaly that Kavango had previously modelled as a possible carbonatite. DITDD004 appears to have intercepted the magnetic anomaly at the projected target depth.
Kavango’s field team has taken preliminary magnetic susceptibility readings on the core recovered from DITDD004. The team observed highly elevated magnetic readings between 293m and 321m (the “Zone of Interest”). These readings from the Zone of Interest coincide with a visibly altered section of rock that the Company will immediately cut half-core samples from and send for whole rock analysis.
The core from DITDD004 contains visibile siliceous and haematitic zones, with pyrite seen both as dissemination and in veins. Extensive fracturing (brecciation) is observed in the Zone of Interest and elsewhere in the hole.
The Company has provided photos of the Zone of Interest on its website:
https://www.kavangoresources.com/media-library/news-release-media/rns18may2022
A 1km Audio-Magnetotelluric (“AMT”) survey will be performed over the i10 Target in the coming weeks. Kavango hopes that data from this will help further define the shape and form (morphology) of the Zone of Interest.
Mindea Exploration and Drilling Services Pty (“Mindea”) will now mobilise the diamond core drill rig to Target i1 at Ditau. Target i1 is the largest of three targets Kavango plans to drill in the current campaign. A further update will be released shortly.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“We are encouraged to have intercepted the primary target at the projected depth. Once again, Kavango’s magnetic modelling is proving to be an accurate vector for drill targeting. Of course, a magnetic model can only tell us so much from surface, but in this instance the drill core we’ve recovered is visibly attention-grabbing.
The Zone of Interest is a compelling exploration lead. At this stage we are considering a number of options as to what this 28m intersection of core may represent.
We will report results to the market, as we receive them.
In the meantime, we look forward to commencing drilling on the i1 target”
The POW/KAV Joint Venture at Ditau
Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE:POW) (“Power Metal”). Kavango is the operator. Mindea is conducting the drilling.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
