TIDMKAV
RNS Number : 9039W
Kavango Resources PLC
16 December 2019
PRESS RELEASE
16 December 2019
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
PHASE 1 DRILLING COMPLETED ON THE KSZ, 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 that
the first phase of drilling on the Company's Kalahari Suture Zone
Project (KSZ) has been completed, within budget, after successfully
testing the first 3 of the 15 targets identified as having
potential to host massive sulphide ore bodies.
HIGHLIGHTS
-- During the drilling programme, 749m of RC drilling and 344m
of diamond core drilling were completed over 6 holes on 3
targets.
-- The drilling programme was designed:
o To test the Company's exploration strategy of identifying high
level, Karoo age gabbroic sills predicted from its geophysical
surveys, including airborne EM; and
o To confirm the existence of metal sulphide mineralization
associated with the gabbroic intrusives.
-- The drilling has successfully confirmed that Kavango's
exploration strategy, which includes airborne EM, soil geochemical
sampling, and CSAMT resistivity surveying, is effective in
identifying buried gabbroic intrusions and zones of
conductivity.
-- Disseminated sulphide mineralisation has been intersected at
various depths in a number of gabbro sills. This is extremely
encouraging and suggests that free sulphur was present in the
cooling magma (sulphur saturation). The tenor of the mineralized
intervals will be subject to assays to be undertaken in a
Johannesburg laboratory.
-- On the last hole (RIT8DDH2) a 16m mineralized gabbro sill was
intersected that showed intense heat alteration that extended
several metres into the sediments on either side of the intrusion.
This suggests that the intrusive acted as an active conduit
transporting large volumes of magma to the surface*.
FOLLOW UP
-- Thin sections from the gabbros will be made and analysed as
soon as possible. Study of these should confirm that the chemistry
of the magma had the potential to form economic mineralisation.
-- The diamond core and the RC drill chips taken from the
gabbroic intersections and adjacent sediments are being shipped to
a laboratory in South Africa to be assayed for metal content and
other important elements.
-- Kavango plans to survey at least 3 of the holes with downhole
geophysics. This will include downhole EM**.
-- The downhole geophysics should identify the location of zones
of massive sulphide, which are expected in the proximity of the
existing holes.
-- If the downhole geophysics suggests the existence of massive
sulphide bodies, a further drilling programme will be undertaken as
soon as practically possible.
EXPLANATION (a Glossary of Terms is found at the end of this
RNS)
-- * The accumulation of metal sulphides and their deposition
within the intrusive is largely dependent on the volume of magma
that passes through the conduit. The formation of massive sulphide
orebodies requires the precipitation of small amounts of metal
sulphide from large amounts of magma (lava) over a considerable
time period.
-- ** Downhole EM will be able to detect any massive sulphide
which the drill hole may have missed (off hole) as well as beyond
the extent of the drill hole. Since the receiver of the downhole EM
unit will be much closer to the source, it will be able to detect
bodies beyond the reach of surface and airborne methods with less
interference from Kalahari and Karoo sediments.
Michael Foster, Chief Executive Officer of Kavango Resources,
commented:
"It is very encouraging to note that the Company's exploration
strategy for the discovery of a world class Cu/Ni/PGE magmatic
sulphide deposit appears to be valid and progressing well.
Disseminated sulphides have been intersected in the gabbros and the
results of assays are eagerly awaited. Deposits of massive sulphide
ore are still to be identified but it is hoped that downhole
geophysical surveying will pinpoint the location of such deposits.
A second phase of drilling will be planned in the new year to
follow up assay results and the downhole surveys, as well as
additional priority targets".
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 those hosting World Class
copper/nickel ore bodies such as Norilsk (Siberia) and Voisey's Bay
(Canada).
Glossary of Terms
-- CSAMT: Kavango uses a ground based geophysical technique
known as Controlled Source Audio frequency Magneto Tellurics
(CSAMT) to identify the exact location of the conductors identified
in the airborne electromagnetic (AEM) survey. The shape,
orientation and depth of the conductors will determine if the
conductor should be drilled.
-- When a deposit consists almost entirely of sulphides it is
termed "massive". When it consists of grains or crystals of
sulphide in a matrix of silicate minerals, it is termed
"disseminated".
-- Gabbro/gabbroic: A coarse grained, medium to dark coloured
rock, formed from the intrusion of mantle derived molten magma into
the earth's crust.
-- Gabbroic sills: Relatively thin, planar bodies of solidified
gabbroic magma that intruded into layers of sedimentary rock whilst
still molten.
-- High level sills: Are sills that are emplaced in the upper
levels of the earth's crust, close to the surface.
-- Sulphide mineralisation: If there is sufficient sulphur in
the molten magma, it will tend to combine with metals (Cu, Zn, Ni,
Co, Pb, PGEs etc.) to form metal sulphide complexes, which may
coalesce to form massive sulphide deposits. If the melt is sulphide
poor, the metals will be taken up into the silicate minerals that
form as the magma cools and will not usually form economic
deposits.
-- Primary sulphides: Are sulphide complexes (or crystals) that
form as the magma cools and are composed of elements that are
present at the time of initial crystallization. Secondary sulphides
may form after the magma has solidified either by the introduction
of new elements into the rock or by re-mobilising elements already
present through changes in pressure, heat etc.
-- Magma conduits: Beneath a volcano or multiple volcanic vents
and fissures there will exist a complex "plumbing system" of
(vertical) dykes and (horizontal) sills transporting magma (lava)
to the surface. In some cases these "conduits" can remain active
for hundreds of years accumulating metal sulphides in traps or
along the floor. These accumulations solidify to become massive
sulphide deposits
-- Electromagnetic (EM) surveys: are used to detect a wide
variety of mineral deposits, especially base metal sulphides (such
as copper and nickel), via detection of conductivity anomalies
which can be generated around sulphide bodies in the subsurface. On
a regional scale they are carried out via airborne methods, at
ground level for detailed follow-up work, or down a drill hole to
identify a body of mineralization under the conductive layers
above.
****************************ENDS**************************************
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END
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