Kavango Resources has expanded its exploration targets from three to four, and the recent drilling results have confirmed a much larger mineralized zone than initially anticipated, making it a significant prospect for further exploration.
These findings suggest the potential for open pit mining due to the shallow depth (starting at 12 meters below the surface) and significant area coverage. Kavango Resources plans to conduct further induced polarization (IP) surveys to refine target areas for drilling, expecting to resume drilling at Hillside by early June.
Kavango has further seen success in small-scale production, with recent gold sales exceeding expectations. This success provides additional working capital and is aiding in expanding mining operations, with goals to significantly increase monthly gold production and revenue by the end of the year.
Here are the key points covered:
- Introduction: Ben Turney introduces the company’s latest assay results from Prospect Three at the Hillside gold project.
- Exploration Goals:
- Kavango Resources has expanded its targets from three to four based on fieldwork.
- The drilling aimed to explore deeper mineralization below artisanal workings, revealing a larger target area than initially anticipated.
- Drilling Results:
- The drilling intersected multiple shear zones with gold-bearing quartz veins and associated sulfide mineralization.
- A significant mineralized zone of 40 meters grading over 0.5 grams per ton of gold was found starting at 12 meters below the surface, suggesting potential for open-pit mining.
- Target Area and IP Surveys:
- The identified target area is 600 meters wide and 1200 meters long, with potential to extend up to 5 kilometers in strike length.
- Further induced polarization (IP) surveys are planned to refine the target areas for drilling, with drilling expected to resume in early June.
- Small-Scale Production:
- Kavango Resources has seen success in small-scale production, with recent gold sales exceeding expectations.
- The company aims to increase monthly gold production to 3 kilograms, generating approximately $200,000 in revenue per month.
- Future Plans:
- Kavango Resources plans to use the additional working capital from recent fundraising to expand mining operations and improve their exploration model.
- They will continue to use IP data to identify promising drilling targets and refine their understanding of the mineralized system.
- Next Steps:
- The company plans to release more comprehensive exploration data and visuals in the future.
- A follow-up video presentation is anticipated to provide a detailed overview of the exploration findings and plans.
