TIDMKAV
RNS Number : 8914J
Kavango Resources PLC
10 December 2018
PRESS RELEASE
10 December 2018
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
SIGNIFICANT DRILL TARGETS IDENTIFIED 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 positive results from
geophysical follow-up work carried out since the completion of
Phase 1 of the airborne electromagnetic (AEM) survey over the
Company's Kalahari Suture Zone (KSZ) Project.
Ground based Audio-frequency Magnetotellurics (AMT) surveys have
now been conducted over the northern part of the KSZ project and
also over the Ditau Prospect area within the KSZ Project. AMT
surveys are able to determine the exact location of conductors as
well as their orientation, depth and size.
HIGHLIGHTS:
KSZ Project - Northern
-- Ground based AMT surveys (see below for definition and links
to images) have now been carried out over 6 of the 26 conductors
identified in the AEM survey (Phase 1) in the northern part of the
KSZ Project.
-- Selection for ground follow up was based on the strength of
the conductors and the coincidence of a zinc in soils anomaly on
the surface above the conductor. Zinc, which is the most mobile of
the base metal elements (i.e. goes into solution easily) acts as a
pathfinder to mineralisation at depth.
-- Several of the conductors appear to be large, steeply dipping
bodies that may represent mineralization from near surface down to
at least 400m from the surface. These conductors all represent
potential drill targets.
-- The ground follow-up programme will continue in the northern
part of the KSZ Project to investigate more of the Phase 1 AEM
anomalies over the coming months.
KSZ Project - Ditau Prospect
-- At the Ditau Prospect, which has a strike of over 7km,
multiple lines of AMT surveying have now identified two elongated
conductors extending from just below the surface to depths in
excess of 600m.
-- The two Ditau conductors are open at both ends and extend
north-south for at least 4km and represent very compelling
geophysical anomalies which are both coincident with strong zinc in
soil anomalies.
-- The Ditau magnetic body is associated with a significant
gravity anomaly and probably represents a mafic intrusive at depth.
These conductors represent prime priority drill targets for the
first part of next year.
-- The remarkable coincidence of significant (probably
mineralised) EM conductors at depth with zinc in soils anomalies on
surface represents compelling evidence that Kavango's soil sampling
technique is able to detect mineralisation above considerable
depths of cover.
-- The Company believes that a combination of AEM surveying,
zinc in soils geochemistry and AMT ground based resistivity
surveying will continue to identify multiple high quality drill
targets over the coming months.
Michael Foster, Chief Executive Officer of Kavango Resources,
commented:
"We are extremely pleased to be able to report that the initial
AEM survey results show that a number of the conductive anomalies
identified coincide with significant geochemical (zinc in soil)
anomalies.
Priority targets have now been followed up on the ground with
AMT resistivity surveys and exciting potential drill targets have
been identified, including at the Ditau Prospect, which forms part
of the KSZ Project.
It has been highly encouraging to note the effectiveness of
Kavango's exploration strategy and techniques, which are already
beginning to deliver positive results.
The KSZ Project covers over 9,000km2 of prospective exploration
ground including the 450km KSZ magnetic trend which has the
potential to host Norilsk type Cu/Ni/PGE massive sulphide ore
bodies. This huge area, which is entirely covered by surface
(Kalahari) sand cover, has not previously been explored for
minerals using modern techniques.
The Company, which was only listed at the end of July, is
already identifying drill ready targets which should only increase
with further flying. The Company remains fully focused in its
pursuit of the discovery of world class mineral deposits within the
KSZ Project area in Botswana by following up on all of the above
during 2019."
Notes for Editors:
Kavango's 100% subsidiary in Botswana is the holder of 15
prospecting licences covering 9,231 km(2) of ground including most
of the 450 km long KSZ magnetic anomaly along which Kavango is
exploring for Cu-Ni-PGE rich sulphide orebodies.
The area being explored displays a geological setting with
distinct similarities to the Norilsk deposits in Siberia, host to
the world's largest Ni-Cu-PGE mines.
Geophysical techniques such as Induced Polarisation (IP) and
Controlled Source Audio-frequency Magneto-Tellurics (AMT) penetrate
below the over-lying Kalahari sand cover and Karoo sediments which
extend over much of SW Botswana. Massive sulphide deposits can be
detected by AMT because they conduct electricity easily
(conductors) as opposed to silicate wall rocks (resistive). Large
conductors extending from near surface to deep levels below surface
could contain considerable amounts of mineralisation and are what
the Company is looking for. There is no guarantee the conductors
identified are mineralised but if they are, and if the
mineralisation is economic, this would be transformational for the
Company.
Kavango geologists have developed 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.
Click on the link below to see the AMT images:
https://www.kavangoresources.com/images/2018/12/08/rns-10-dec-8-fig1-3.jpg
For further information please contact:
Kavango Resources plc
Michael Foster +44 20 3651 5705
mfoster@kavangoresources.com
City & Westminster Corporate Finance LLP +44 20 7917 6824
Nicola Baldwin
SI Capital Limited (Broker) +44 1483 413500
Nick Emerson / Alan Gunn
Further information in respect of the Company and its business
interests is provided on the Company's website at
www.kavangoresources.com
****************************ENDS**************************************
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END
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