TIDMKAV
RNS Number : 2133L
Kavango Resources PLC
29 April 2020
PRESS RELEASE
29 April 2020
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
MINERAL SYSTEMS REVIEW OF THE KSZ, BOTSWANA
Kavango Resources plc (LSE:KAV), the exploration company
targeting the discovery of world-class mineral deposits in
Botswana, wishes to announce the publication of a new independent
technical review on the exploration potential of the Company's
Kalahari Suture Zone ("KSZ") Project.
The review has been completed by Dr David Holwell, of D&D
Geoconsultants using a Mineral Systems Approach ("MSA") (the
"Review") .
Dr Holwell (BSc MSc MCSM PhD) is a leading authority on the
development of Copper-Nickel-Platinum Group Metals ("PGM") sulphide
deposits associated with magmatic systems. Kavango is searching for
"Norilsk-Style" deposits in the KSZ.
Highlights:
v Initial review of Kavango's KSZ Project completed by Dr
Holwell
- The MSA is a more predictive method for finding large scale ore deposits.
- The full Review is available to view and download on the Kavango website.
- The Review confirms Kavango's assessment of the KSZ Project's significant economic potential.
- Follow up test work to be completed once travel restrictions lifted.
v Review highlights
- The Review confirms the presence of 10 key geological features
present in world-class magmatic sulphide Copper-Nickel-PGM deposits
at Norilsk (Siberia), Voisey's Bay (Canada), Raglan (Canada),
Jinchuan (China), the Thomson Nickel Belt (Canada) and other
similar magmatic sulphide deposits worldwide.
- The Review recommends a number of exploration steps for the
Company to take in establish whether additional geological features
are present in the KSZ, which are typically found in world-class
Copper-Nickel-PGM deposits.
- Exploration of the KSZ to include combination of desktop and
drill core analysis and field exploration.
- The Review concludes that the KSZ "is a prime setting for a
magmatic Nickel-Copper-PGM deposit."
v Proposed collaboration with the University of Leicester, UK to
examine economic potential of the KSZ
- Applied research project, under Dr Holwell's supervision.
- The research work will include petrology, mineralogy, electron
microprobe work, whole rock geochemistry and thin section work on
exploration data gathered by Kavango.
v Kavango to release KSZ work programme plan in coming
weeks.
Michael Foster, Chief Executive Officer of Kavango Resources,
commented:
"The Review of the Kalahari Suture Zone Project by Dr Holwell
and the work carried out to date by the Company represents
confirmation that Kavango is "on track" to make a mineral discovery
in the near future. The huge value of deposits such as the
Copper-Nickel-PGM rich ores in the Norilsk-Talnakh camp - of the
order of hundreds of billions of dollars within a single ore shoot
- provides a powerful incentive to develop an understanding of the
geology of the KSZ and identify effective detection techniques.
We look forward to working with Dr Holwell on this exciting
exploration project."
Review preparation
The Review was written by Dr Holwell (BSc MSc MCSM PhD) and
Daryl Blanks (MGeol AusIMM) of D&D Geoconsultants. The Review
confirms Kavango's assessment of the KSZ Project's significant
economic potential.
Dr Holwell is a leading authority on the development of
Copper-Nickel-PGM sulphide deposits associated with magmatic
systems. Dr Holwell has published over 40 peer-reviewed
publications, he is a Fellow of the Society of Economic Geologists,
and Regional Vice President for Europe for the Society for Geology
Applied to Mineral Deposits.
Dr Holwell and Ms Banks applied the Mineral Systems Approach in
analysing data gathered from the Company's exploration of the KSZ.
The Mineral Systems Approach is a more predictive method for
finding deposits by understanding the combination of geological
processes that are required to form and preserve ore deposits at
all scales.
Documentation supplied by Kavango included:
- Over 25,000 regional and detailed soil samples
- Re-logging of historical drill holes
- Whole rock geochemistry analysis of the KSZ gabbros (Dr MD Prendergast 2015)
- CSAMT surveys over historical drill holes and soil anomalies
- A 21km CSAMT line across the KSZ
- Two helicopter-borne EM surveys covering a total of 4,070 line-kms
- The 3D EM Model
- 1,092m of combined RC and diamond drilling with assays for PGE and base metals
- Thin section microscope work.
Review Highlights
The following quotes are taken from the Review:
- After examining Kavango's data on the KSZ, the Review
concludes that the KSZ "is a prime setting for a magmatic
Copper-Nickel-PGM deposit".
- "The KSZ comprises two distinct mafic-ultramafic complexes of
different ages that conform to many of the key features of
prospective Copper-Nickel-PGM sulphide mineral systems,
particularly the geodynamic setting at the margins of a craton, and
the association with dyke-sill complexes along major crustal
lineaments (pathways)."
- "...the more recent mafics, that intrude the Karoo sediments,
are linked to more prospective plume-related magmatism likely to
represent the feeder systems to the Karoo flood basalts. These
mafics are preserved at a shallower depth. Additionally, the Karoo
intrusions contain strong geochemical signatures (high
Copper/Palldium ratios) indicative of sulphide saturation in the
parental magmas ."
- "...the strongest evidence for sulphide saturation and the
formation of magmatic sulphides in the system is in the
Copper/Palldium ratios that are way above the mantle range
(1000-7000), with one as high as 84,000, indicating the parent
magmas to the Karoo-aged mafics segregated sulphide, which
concentrated Palladium (and other chalcophile metals) into an
earlier sulphide liquid.
- "Many of the world's largest ore deposits occur in the
plumbing systems beneath areas of flood basalts in LIPs (e.g.
Noril'sk beneath the Siberian traps)."
- "The area is relatively underexplored and to date there is no
evidence from an MSA perspective that is unfavourable towards
potential discovery."
The shallow Karoo Sediments & deeper Tshane Complex
The Review confirms the KSZ comprises of two distinct
mafic-ultramafic complexes that conform to many of the key features
of large-scale prospective Copper-Nickel-PGM sulphide mineral
systems.
The Review notes that the older Tshane Complex (thought to be 1
billion years old) contains cumulates with disseminated sulphides.
The presence of any potential sulphide deposit in the Tshane
Complex would likely be deeper underground (perhaps >500 m). The
Tshane Complex could host attractive future exploration targets,
however the Review recommends that Kavango continue to focus its
exploration efforts on the shallower Karoo Sediments.
The more recent mafics that intrude the Karoo Sediments (which
are about 180 million years old) are likely to represent the feeder
systems to the Karoo flood basalts. They are more plume related in
composition and preserved to a shallower depth.
The Karoo Sediments contain strong geochemical signatures
indicative of sulphide saturation in the parental magmas.
The Review identifies 10 key geological features present in in
the Karoo Sediments, which are also present in other world-class
magmatic sulphide Copper-Nickel-PGM deposits at Norilsk (Siberia),
Voisey's Bay (Canada), Raglan (Canada), Jinchuan (China) and the
Thomson Nickel Belt (Canada).
The following table presents 10 important geological features
associated with world-class magmatic sulphide Copper-Nickel-PGM
deposits that Dr Holwell has confirmed in his Review as being
present on the KSZ :
COMPONENT OF THE MINERAL SYSTEM KSZ - Karoo
Geodynamic and tectonic
setting
Rifted craton margin Yes
Mantle plume Yes
Intrusion into sedimentary Yes
basins
Source and composition
of magmas
Plume related Yes
Large volumes of basaltic magma Yes
Magma migration pathways
Dyke-sill complexes Yes
Xenoliths and interaction of country Yes
rocks
Chemical/physical mechanisms of sulphide
accumulation
High Cu/Zr Yes
ratio
High Cu/Pd Yes
ratio
Preservation
Erosion level no deeper than feeders Yes
to flood basalts
The Review concludes: "the KSZ is highly prospective with good
potential to host economic deposits of Copper-Nickel-PGM sulphides.
If the Karoo intrusives represent feeder zones then it is likely
that deposits hosted by these intrusions would be significant."
Next steps in the KSZ
T he Review recommends a number of exploration techniques for
the Company to adopt in its next phase of exploration. The goal
will be to confirm whether there are additional geological features
present in the KSZ, associated with world-class magmatic sulphide
Copper-Nickel- PGM deposits . These techniques include:
- Downhole geophysics, especially Electro-Magnetic Surveys ("EM")
- Low frequency ground EM using very large loops and high powered transmitters
- Gravity surveys
- Further 3D Computer modelling
- Controlled-Source Audio-Frequency Magnetotellurics (" CSAMT") resistivity surveying
- Further soil sampling - especially for Copper, Nickel and Iron.
Dr Holwell and Kavango will work together in the coming months
to deepen the Company's understanding of the KSZ.
The Company will announce its planned work programme in the
coming weeks.
In addition to this the Company has also proposed a research
collaboration project with the University of Leicester (the
"University"), to be overseen by Dr Holwell.
The goal of the research project will be to help confirm the
economic potential of the KSZ. The Company will supply data and
samples gathered from its field exploration efforts to the
University of Leicester. This will give Kavango access to the
University's research facilities and testing equipment.
Research work will include petrology, mineralogy, electron
microprobe work, whole rock geochemistry and thin section work on
exploration data gathered by Kavango.
Kavango will publish results from this collaboration as it
receives them.
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
+44 20 3651 5705
Michael Foster
mfoster@kavangoresources.com
SI Capital Limited (Broker)
+44 1483 413500
Nick Emerson
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty)
Ltd, is the holder of 12 prospecting licences covering 8,324.7km(2)
of ground, including 10 licences over a significant portion of the
450km long KSZ magnetic anomaly in the southwest of the country
along which Kavango is exploring for Copper-Nickel-PGM 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 World Class
magmatic sulphide deposits such as those at Norilsk (Siberia) and
Voisey's Bay (Canada).
KSZ DEFINITIONS
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.
****************************ENDS**************************************
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