Kavango Resources PLC KSZ: B Conductor Drill Contract Signed (9484Y)
May 10 2023 - 3:38AM
UK Regulatory
TIDMKAV
RNS Number : 9484Y
Kavango Resources PLC
10 May 2023
PRESS RELEASE
10 May 2023
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
KSZ: B Conductor Drill Contract Signed
Kavango Resources plc (LSE:KAV), the Southern Africa focussed
metals exploration company, is pleased to announce a drilling
campaign on its Kalahari Suture Zone North ("KSZ North")
project.
The Company has signed a contract with Mindea Exploration and
Drilling Services Pty ("Mindea") to drill the cluster of three "B
Conductors" it has identified in the project area. Kavango's
technical team prioritised the B Conductors for drill testing after
remodelling their conductance to be in the range of possible
nickel, copper, platinum group element ("PGE")-bearing massive
sulphides (announced >>> 02 March 2023).
OVERVIEW
- Drill rig mobilisation
-- Mindea will deploy a diamond drill rig capable of drilling beyond target depth.
-- Kavango selected Mindea, after it successfully drilled two
holes into the B Conductors last year as part of the Company's
Proof of Concept campaign (announced >>> 18 August
2022).
- Drill programme details
-- Mindea will drill up to 4 holes, targeting the B Conductors at a depth of 600-700m.
-- The primary target will be the B1 Conductor, which was
recently remodelled with a conductance of 28,700 Siemens using
Downhole Electromagnetic ("DHEM") survey data.
-- This is well into the range accepted by nickel-copper
specialised geophysicists for pyrrhotite-bearing massive
sulphides.
-- Pyrrhotite is very highly conductive iron sulphide mineral
often associated with the nickel-bearing mineral pentlandite in
nickel/copper/PGE massive sulphide bodies.
-- Secondary targets comprise the B3 and B4 conductors. These
have been modelled at 4,100 and 2,760 Siemens respectively, also in
the range of possible massive sulphides.
- Preparations underway
-- Kavango has mobilised its exploration camp for the drilling campaign.
-- The Company is also preparing an access road to the proposed
drilling site and preparing the water borehole for the drilling of
the B1 Conductor.
-- Drilling expected to commence within 3 weeks.
Ben Turney, Chief Executive Officer of Kavango Resources,
commented:
"We are delighted to return to drilling the Kalahari Suture
Zone. Following last year's 'near miss' of the B1 Conductor, we've
made thorough preparations for our return to this target.
Mindea successfully drilled two holes in the area last year for
us, overcoming difficult ground conditions. We learned a lot
together from that campaign and are confident Mindea's team will
give us the greatest chance of making a successful intersection of
the 28,700 Siemens B1 Conductor.
This high level of conductance is among the stronger geophysical
indicators in nickel/copper exploration, and we look forward to
proving the causative source with physical drill core."
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
Ben Turney
+46 7697 406 06
First Equity (Broker)
+44 207 374 2212
Jason Robertson
Kavango Competent Person Statement
The technical information contained in this announcement
pertaining to geology and exploration have been read and approved
by Brett Grist BSc(Hons) FAusIMM (CP). Mr Grist is a Fellow of the
Australasian Institute of Mining and Metallurgy with Chartered
Professional status. Mr Grist has sufficient experience that is
relevant to the exploration programmes and geology of the main
styles of mineralisation and deposit types under consideration to
act as a Qualified Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'.
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END
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