TIDMKAV
RNS Number : 3993O
Kavango Resources PLC
02 October 2019
PRESS RELEASE
2 October 2019
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
KSZ DRILLING PROGRAMME TO START EARLY OCTOBER
Kavango Resources plc (LSE: KAV), the exploration group listed
on the Standard List segment of the main market of the London Stock
Exchange and targeting the discovery of world-class mineral
deposits in Botswana, is pleased to announce that it has now signed
a drill contract and mobilization of the rigs is underway. Drill
collar positions have been decided upon and the first hole should
be started early this month.
HIGHLIGHTS:
-- An initial programme of approximately 1,000m (3 holes) on the
Kalahari Suture Zone ("KSZ") has been planned to intersect
conductor targets at depths of between 200m and 400m.
-- A drilling contract has been signed with an experienced
Botswana drilling company that has been involved in the discovery
and development of a number of deposits on the Kalahari Copper
Belt.
-- The drill collar positions have been decided upon. Access
roads and the drill sites are now being prepared.
-- The vertical holes will be pre-collared to approximately 150m
with reverse circulation drilling. Then diamond drilling (NQ size)
will obtain core from the target.
-- All 3 proposed drill holes are within easy trucking distance
to water sources for drilling and to the administrative town of
Hukuntsi.
-- One of the conductor anomalies selected for drilling is
hosted within a 10km x 6km magnetic anomaly, which is interpreted
as a high level gabbroic* intrusive (magma chamber).
-- The other two targets relate to significant linear magnetic and conductive structures.
-- A presentation with drill target selection and geological models is now on our website at:
https://www.kavangoresources.com/projects/kalahari-suture-zone
Background:
Kavango is exploring for magmatic sulphide orebodies associated
with high-level gabbroic magma chambers emplaced along the 450km
long KSZ. The Company currently holds 13 Prospecting Licences along
the KSZ amounting to over 8,300km(2) .
The directors believe the KSZ's geological model is analogous
with the Norilsk/Talnakh (Siberia) and Voisey's Bay (Canada)
Cu-Ni-PGE massive sulphide deposits.
The geology of the KSZ area is obscured by 20m to 70m of
recently deposited Kalahari sand, clays and calcretes (the
"Kalahari Cover"). To see beneath the Kalahari Cover, Kavango has
employed Airborne Electro-Magnetic ("AEM") surveying to map out the
conductivity of the various structures and rock types that are in
proximity to high level gabbroic sills, which have been identified
by earlier regional magnetic surveys.
Massive metal sulphide deposits tend to be very conductive
(<5 ohm/m). Modern AEM techniques combined with advanced
computer modelling can map out the areas of high conductivity. If
the highly conductive zones are positioned within the gabbroic
sills, there is a strong possibility that they will host sulphide
mineralization.
Target selection and drill collar positions
Although the AEM was often able to penetrate down to over
1,000m, Kavango prioritized targets within 400m of the surface and
then only if they were in close association with high level
gabbroic sills.
A total of 15 targets fitted the basic criteria, which were then
surveyed on the ground by CSAMT (resistivity) surveys. Soil
sampling was also conducted to test for Fe, Cu and Zn.
One of the targets chosen for drilling (RIT38) is associated
with a large high level gabbroic sill (10km x 6km). Location plans
and CSAMT sections are shown on our website.
In order to test different areas of the KSZ, the second (RIT8)
and the third (RIT50) drill holes are now located within two
different linear conductors, with associated gabbro intrusives.
CSAMT sections for both targets are also on the website.
Proposed drilling programme
Kavango has now signed a contract with an established local
Botswana drilling company. Mobilization is underway and drilling is
planned to start shortly. The programme is likely to take several
weeks to complete, depending on drilling conditions. All holes will
be vertical. The initial plan is to drill approximately 1,000m of
which about half will be core drilling.
Michael Foster, Chief Executive Officer of Kavango Resources,
commented:
"Following the CSAMT surveying of targets selected from the
detailed modeling of the AEM data, Kavango has identified a number
of drill targets, which we believe are highly attractive. These
priority targets are now ready for drilling. The drilling company
has been mobilized and within a short period of time we will be
drilling on the KSZ. This has been an innovative and systematic
mineral exploration programme in a very under-explored region of SW
Botswana that we believe has excellent potential to host
significant base metal deposits."
Geological models, plans of the drill targets and CSAMT
X-sections are provided on the Company's website at
www.kavangoresources.com and on Twitter at #KAV.
Note to Editors:
Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty)
Ltd, is the holder of 15 prospecting licences covering 9,231 km(2)
of ground, including 13 licences over most of the 450km long KSZ
magnetic anomaly in the southwest of the country along which
Kavango is exploring for Cu-Ni-PGE rich sulphide orebodies. This
large area, which is entirely covered by Cretaceous and
post-Cretaceous Kalahari sediments, has not previously been
explored using modern techniques.
The area covered by Kavango's KSZ licences displays a geological
setting with distinct similarities to that hosting the World Class
Norilsk Ni-Cu-PGE orebodies in Siberia.
Exploration Model:
Kavango's exploration model is based upon the search for
magmatic massive sulphide orebodies buried beneath up to 200m of
overburden. The identification of drill targets follows a carefully
constructed exploration program specifically developed by the
Company for exploration in areas covered by Kalahari and Karoo
sediments and sands.
The exploration program is initiated by identifying the location
of magmatic intrusive rocks from an analysis of the regional
magnetic surveys published by the Botswana Government. This is
followed by an AEM survey carried out over the magnetic anomalies
that have signatures indicating the presence of intrusive rocks at
depth. By using the latest generation of low frequency
helicopter-borne EM, conductors lying below the Kalahari/Karoo
cover can be identified for further investigation. These conductors
can be tested on surface by very high sensitivity soil sampling***,
which can detect metal ions transported from buried, metal rich
massive sulphide deposits associated with the emplacement of
magmatic intrusive rocks.
Kavango uses a ground based geophysical technique known as
Controlled Source Audio frequency Magneto Tellurics (CSAMT)** to
identify the exact location of the conductors. The shape,
orientation and depth of the conductors will determine if the
conductor should be drilled. The presence of a metal in soil
anomaly is also used to prioritise the conductors.
The next phase of the exploration involves the drilling of the
conductor to determine the presence of sulphide mineralisation and
its metal component (discovery). This is followed by the evaluation
of the discovery, which will determine whether the deposit is large
enough and rich enough to make an economically viable mine
(feasibility).
*Gabbro is a dense mafic intrusive rock, usually formed in an
oceanic crust environment, when molten mass cools and crystallises
at depth, forming a coarse grained, dark coloured rock, similar in
its chemical composition to basalt.
**Massive sulphide (base metal) deposits can be detected by
CSAMT because they conduct electricity easily (conductors) as
opposed to silicate wall rocks (resistive).
***Kavango geologists have pioneered a high resolution soil
sampling technique to detect ultra-fine metal particles which have
been transported in solution from considerable depths of burial to
the surface by capillary action and transpiration. Evaporation
leaves the metal ions as accumulations within a surface "duricrust"
which is then sampled and analysed. Zinc, which is the most mobile
of the base metal elements (i.e. goes into solution easily) acts as
a pathfinder to mineralization at depth.
For further information please contact:
Kavango Resources plc +44 20 3651 5705
Michael Foster
mfoster@kavangoresources.com
SI Capital Limited (Joint Broker) +44 1483 413500
Nick Emerson
Turner Pope Investments (Joint Broker) +44 20 3657 0050
Andy Thacker
Zoe Alexander (CorporateAndCompliance@TurnerPope.com)
****************************ENDS**************************************
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLCKDDQQBDDNKK
(END) Dow Jones Newswires
October 02, 2019 02:00 ET (06:00 GMT)
Grafico Azioni Kavango Resources (LSE:KAV)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Kavango Resources (LSE:KAV)
Storico
Da Apr 2023 a Apr 2024
