Kavango Resources PLC Update on drilling - KSZ Project in SW Botswana
28 Ottobre 2019 - 08:01AM
RNS Non-Regulatory
TIDMKAV
Kavango Resources PLC
28 October 2019
PRESS RELEASE
28 October 2019
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
UPDATE ON DRILLING - KSZ PROJECT IN SW BOTSWANA
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
copper-nickel-PGE deposits in Botswana, is pleased to announce the
release of an interview with Mike Moles following his recent visit
to the site of drilling of the first hole at the Company's Kalahari
Suture Zone ("KSZ") project in SW Botswana. The objective of the
current drilling programme is to verify the Company's geological
model, aimed at discovering a Cu-Co-PGE Norilsk-style magmatic
sulphide ore body.
The interview will be available shortly on our website at
www.kavangoresources.com/investor-relations/kavango-media and that
of Proactive Investors at www.proactiveinvestors.co.uk/mining
Further details of Kavango's current drill programme and the
geological models were announced on 2 October 2019 and are provided
on the Company's website at www.kavangoresources.com and on Twitter
at @KavangoRes.
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 and Zoe Alexander
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 ore bodies. 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 ore bodies in Siberia.
Exploration Model:
Kavango's exploration model is based upon the search for
magmatic massive sulphide ore bodies 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.
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END
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