Drilling to commence in Botswana

RNS Number : 1994O

Kavango Resources PLC

28 January 2019

 

PRESS RELEASE

 28 January 2019

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

DRILLING TO COMMENCE IN 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 mineral deposits in Botswana, is pleased to announce that drilling at the Company's Ditau Prospect, which forms part of the Kalahari Suture Zone (KSZ), will commence in early February.

HIGHLIGHTS:

KSZ Project - Ditau Prospect

·     Drilling at the first of two coincident geophysical and geochemical base metal conductor/anomalies at the Ditau Prospect will start shortly.

·     The 1,000m initial drill program is designed to intersect the targets at 100m and 200m vertical depth and will involve a combination of both reverse circulation and core drilling; the target conductors extend from just below the surface to depths in excess of 600m.

·    A drilling contract has been signed with Maquana Explorations Ltd, an experienced Botswana company based at Selebi-Phikwe. 

·   The Ditau target anomalies extend north-south for at least 4km and represent very compelling geophysical anomalies which are coincident with significant zinc in soil anomalies on surface.

·    Zinc, which is the most mobile of the base metal elements, acts as a pathfinder for potential base metal mineralisation at depth.

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

"We are pleased to be able to announce the start of drilling at the first of several exciting coincident geophysical and geochemical base metal anomalies that have been identified at the Ditau Prospect, which forms part of the KSZ Project.

The drilling is scheduled to commence shortly and results will be announced as they become available.

With the success of our exploration techniques, we expect many more anomalous areas to be identified following completion of Phase 2 of the airborne electro-magnetic (AEM) survey (see announcement of 21 January 2019). These will be followed up on the ground and prioritized for drilling".

Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com.

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 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 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.

Exploration Model:

Kavango's exploration model is based upon the search for magmatic massive sulphide orebodies 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 Ministry of Mines. This is followed by an airborne electro-magnetic survey (AEM) 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).

*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.

**Massive sulphide (base metal) deposits can be detected by CSAMT because they conduct electricity easily (conductors) as opposed to silicate wall rocks (resistive).

For further information please contact:

Kavango Resources plc
Michael Foster	[phone]
[e-mail]
City & Westminster Corporate Finance LLP	[phone]
Nicola Baldwin

SI Capital Limited (Broker)                                                                                     [phone]

Nick Emerson / Alan Gunn

****************************ENDS**************************************

 

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