TIDMKAV
RNS Number : 6930M
Kavango Resources PLC
13 May 2020
PRESS RELEASE
13 May 2020
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Exploration plan - Kalahari Suture Zone, Botswana
Kavango Resources plc (LSE:KAV), the exploration company
targeting the discovery of world-class mineral deposits in
Botswana, is pleased to announce the next stages of exploration in
the Kalahari Suture Zone ("KSZ").
Highlights
v Exploration objectives:
- To discover world class Copper-Nickel-Platinum Group Metal ("PGM") deposit/s in the KSZ
- To identify high-potential drill targets in "underground traps"
- To increase the chances of future drilling success
v Exploration plan guided by Dr. David Holwell's Mineral Systems
Review of the KSZ (announced 29 April 2020)
v Ongoing data analysis work in Q2 & Q3, including:
- Completion of 3D Underground Geological Model of northern part of the KSZ
- Additional data gathering from third party sources
v Field work and sample collection to commence once lockdown in
Botswana is over, including:
- A whole rock geochemistry report on gabbro samples
- "Thin section" drill core samples to be sent to the University
of Leicester's laboratory for mineralogical and petrographic
testing
- Ground-based, high-powered electromagnetic loop surveys to confirm final drill targets
Michael Foster, Chief Executive Officer of Kavango Resources,
commented:
"Over the coming months we expect to make significant progress
in validating our view that the underexplored KSZ is host to world
class Copper-Nickel-PGM deposits .
Kavango has gathered more exploration data on the KSZ than any
other company.
All our efforts to date have consistently confirmed the KSZ's
significant potential. Our goal now is to deepen our understanding
of the region's geology and to confirm our next targets for field
exploration.
The analyses we are now completing will guide preparations for
our next extensive drill campaign here and maximise our chances of
success.
I look forward to providing further updates on the results of
our work, including a future drilling timetable once complete."
Background
In October 2019 Kavango began its first exploratory drill
campaign in the KSZ. It confirmed the presence of a number of
important geological requirements for the potential of the KSZ to
host one or more, large Copper-Nickel-PGM deposits.
The original objective of the campaign was to drill 1,000m over
3 holes.
However, by completing the first 3 holes under budget, Kavango
was able to drill a further 3 holes.
The drilling confirmed the presence of an extensive magma
plumbing system. This plumbing system is made up of vertical
"dykes" and horizontal "sills", which acted as "conduits" or
"feeders" transporting molten magma from deeply buried magma
chambers to surface "vents". This occurred 180 million years ago
during the Karoo Age.
Over time, the molten magma cooled to form what are known as
"gabbroic intrusions". Kavango believes gabbroic intrusions in the
KSZ could play host to large-scale Copper-Nickel-PGM deposits
- Similar magma plumbing systems are a notable feature of
established world class Copper-Nickel-PGM mines, such as Norilsk
(Siberia), Voisey's Bay (Canada), Raglan (Canada), Jinchuan (China)
and the Thomson Nickel Belt (Canada)
Initial analysis of the KSZ drill cores strongly suggest that
magma was flowing through the conduits long enough to allow for
dense metal sulphide liquid to have accumulated and solidified in
trap zones within the plumbing system.
In the next stage of its exploration programme, Kavango's
objective is to drill and test trap zones within the plumbing
system that lie within 300m of the surface.
Q2 & Q3 Exploration Programme in the KSZ
Although fieldwork is currently restricted in Botswana due to
the Covid-19 lockdown, Kavango had already planned an extensive
analysis of the existing data to improve its understanding of the
KSZ's geology.
In the coming months, Kavango will focus on the compilation of a
computer generated 3D model of the northern section of the KSZ with
specific emphasis on the identification of metal sulphide
accumulations in traps within the plumbing system.
The current task is to input into a database all of the
information generated by Kavango's own exploration (airborne EM,
soil geochemistry, drilling analyses etc) and also the data
available both in the public domain (magnetic/gravity surveys etc),
together with new data acquired from 3(rd) parties including drill
logs and assays.
As soon as it is able, Kavango will act upon the recommendations
made in Dr Holwell's Mineral Systems Review. The aim will be to
obtain further evidence of sulphide mineralisation in the KSZ to
guide future exploration. This will be an important part of
validating the Company's geological model and will involve:
1. Confirmation that the silicate minerals in the gabbro are
abnormally low in nickel, suggesting that nickel was diverted into
the formation of an immiscible metal sulphide liquid (due to
sulphur saturation) and subsequent crystallisation. Requires
electron-microprobe analysis.
2. The petrographic and mineralogical description of thin
sections from the gabbro drill cores, which will determine the
nature and crystallisation history of the sulphides.
3. Undertake an analysis of the whole rock geochemistry. This
will provide invaluable information about the composition and
genetic history of the gabbroic magma.
Kavango will provide Dr Holwell and the University of Leicester
with the samples it needs for the above laboratory work once
lockdown restrictions are lifted in Botswana.
Once the restrictions are lifted, Kavango plans to conduct
orientation ground-based, high-power, low frequency electromagnetic
("EM") loop surveys of selected targets in the KSZ.
These low-frequency loop surveys are likely to be effective in
identifying mineralised deposits in trap zones within the magma
plumbing system (gabbros).
Results from the loop surveys are expected to have a significant
bearing on final target selection for future drilling in the
KSZ.
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, BOTSWANA
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
Massive sulphide deposits: 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 rocks (or "gabbros") formed as the molten
magma cooled.
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.
Karoo: The Karoo System is a geological era consisting of rocks
formed 310-180 million years ago. Named after the Karoo region of
South Africa, it is confined to continents within southern
hemisphere (plus India).
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.
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END
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