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Kavango Resources (KAV)

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Monday 15 July, 2019

Kavango Resources

New Licence acquired at Ditau, Botswana

RNS Number : 4514F
Kavango Resources PLC
15 July 2019
 

PRESS RELEASE

 15 July 2019

 

KAVANGO RESOURCES PLC

 

 

NEW LICENCE ACQUIRED AT DITAU, BOTSWANA

 

Kavango Resources plc ("Kavango" or "the Company") (Ticker 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 the acquisition of a new prospecting licence ("PL") adjacent to the current Ditau PL.

 

The new PL covers an area of 916.4km2 to the south west of the current licence. It includes the extensions of the Ditau geological and geophysical structures that have potential for base metal mineralization.

 

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

 

"Extending our land position at Ditau following an assessment of the Company's recent work provides Kavango with an important strategic ground holding in this prospective area.

Additionally we believe that this new licence could be instrumental in the farming-out of this project to an industry partner. This is currently Kavango's preferred option. Our main focus remains the Kalahari Suture Zone ("KSZ") structure in southwest Botswana where drilling is expected to commence later this quarter".

 

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

 

                                         

For further information please contact:

 

Kavango Resources plc


Michael Foster

+44 20 3651 5705

[email protected] 




SI Capital Limited (Joint Broker)                                                                            +44 1483 413500

Nick Emerson

 

Turner Pope Investments (Joint Broker)                                                               +44 20 3657 0050

Andy Thacker

 

 

Notes for Editors:

Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is currently the holder of 17 prospecting licences covering 10,347.2 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 Botswana Government. 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 surveying, 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).

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


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