Ditau check assay results

RNS Number : 6514H

Kavango Resources PLC

02 August 2019

 

PRESS RELEASE

 2 August 2019

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

Ditau check assay results

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, confirms that the assay results from the two holes drilled into the Ditau Camp target have been checked and confirmed as being accurate.

HIGHLIGHTS:

·     Due to concerns over apparent inconsistencies in the results received from Genalysis Laboratory in Australia, the company requested some of the samples to be re-assayed.

·     33 duplicate samples were also sent for inter-laboratory checks at SGS Labs in Johannesburg.

·     Having now received the results of these check assays, Kavango is now satisfied that the original Genalysis results are correct and reliable.

·     Although the assay results show lower than expected values from the altered Karoo sediments in both holes, the gabbroic* rocks appear to be more mineralized with anomalous values of gold and base metal occurring towards the bottom of hole DitDDH2 (478m to 557m).

·     Analysis of the data suggests that the alteration and deformation observed in the core may be related to alkali metasomatism (fenitisation) associated with the emplacement of alkaline intrusives (including carbonatites) into the overlying Karoo sediments.

·     The Ditau magnetic anomaly (7x5km) represent just one of at least 10 similar magnetic "ring structures" all lying within Kavango's PL 169/2012 and the newly acquired PL 010/2019 (916.4km²).

·     Further geophysics and drilling is planned in Q4 2019.

Michael Foster, Chief Executive Officer of Kavango Resources, commented:

"Whilst the assay results show that the first two holes at Ditau have not identified economic mineralization, the geochemistry generated by the laboratory supports the existence an alkaline igneous complex featuring a number of ring structures. This would explain the large volume of alteration encountered in both holes (1.8km apart) which is possibly due to fenitization associated with the emplacement of carbonatites into the Karoo sediments. This is an exciting development in the continuing exploration of the Ditau Prospect. Some of the world's biggest copper and rare earth deposits are associated with such intrusives. Further ground based geophysics will be undertaken followed by drilling to advance the investigation of this intriguing prospect. In the meantime discussions are being held with industry partners with a view to sharing the costs of further exploration".

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.

Notes for Editors:

Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 15 prospecting licences covering 9,231 km² of ground, including much 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.

*Gabbro is a coarse grained, dark coloured, mafic intrusive rock. It is composed primarily of feldspars and pyroxene and commonly contains olivine. Chemically it is low in silica and high in magnesium and calcium. It is formed by the partial melting of peridotite deep within the earth's crust.

For further information please contact:

Kavango Resources plc                                                                                     [phone]

Michael Foster

[e-mail]

SI Capital Limited (Joint Broker)                                                                            [phone]

Nick Emerson

Turner Pope Investments (Joint Broker)                                                               [phone]

Andy Thacker

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