30 July 2024
Kavango Resources
("Kavango" or "the
Company")
BOTS - Karakubis multiple trap sites
identified
Kavango Resources plc (LSE: KAV), the Southern
Africa focussed metals exploration Company, is pleased to announce
that ongoing processing and interpretation of Inversions from
Airborne Electromagnetic ("AEM") data have so far identified over
90 interpreted trap-site features believed to be associated with
doubly plunging anticlinal fold and fault structures at the
6,200km2 Karakubis Copper Project in Botswana's Kalahari
Copper Belt ("KCB").
An ongoing Induced Polarization ("IP") survey
programme over a diverse selection of these features is helping to
discriminate faults, folds and possible lithologies using
differences in resistivity and chargeability.
The successful completion of the first two
stratigraphic holes in the 5,000m Phase 1 diamond drill campaign at
Karakubis (the "Drill Campaign"), has validated the exploration
model with three distinct achievements; firstly, identification of
lower D'Kar Formation stratigraphy, secondly the detection of a
wide zone of hydrothermal alteration, and thirdly the discovery of
copper sulphides and pathfinder minerals in the siltstones within
the sequence.
The Company plans to assess as many of these as
possible over the remainder of its 5,000m and is already planning
further phases of drilling.
Overview
·
Processing of the AEM, Magnetic and Gravity data was
completed during the second quarter of 2024.
·
Inversion of the AEM data was done by EMergo (Aarhus
Geofisica), and supervised by Jeremy S. Brett International
Consulting Ltd., This work is ongoing with data interpreted as it
becomes available.
·
Previously processed Conductivity Depth Images (CDI) have
been integrated into the interpretation.
·
Gradient Array IP surveys and Stacked Schlumberger Sections
are underway.
·
Interpretation of the combined database has to-date
identified over 90 targets with 10 priority targets selected for
the Phase 1 drill programme.
· The
first 2 holes of the 5,000m Phase 1 drill programme (announced
>>> 22 July 2024) have achieved:
·
Identification of what the Company believes to be lower D'Kar
Formation stratigraphy.
· The
detection of a wide zone of hydrothermal alteration.
· The
discovery of copper sulphides and pathfinder minerals in the
siltstones within the sequence.
·
Given the extent of the opportunity the Company is looking at
the potential to expand into further phases of drilling.
·
Kavango will systematically compile all the data from its
drilling programme and use the data to vector towards a possible
discovery.
Ben Turney,
Chief Executive Officer of Kavango Resources,
commented:
"We are
extremely pleased with how exploration of our 6,200km2
Karakubis Copper Project is progressing. This is an extremely large
project that appears increasingly prospective for large-scale
copper deposits.
Our first
drill results last week confirmed that a copper mineralising system
runs through our ground and mineralisation traps are present. This
was a highly significant event for Kavango because these are the
two primary elements for the formation of commercial copper
deposits in the Kalahari Copper Belt.
We can now
reveal the scale of the opportunity in front of
us.
So far, we
have only processed Airborne Electromagnetic Data over about one
quarter of Karakubis. From this data we have identified 90 probable
trap sites, in the correct structural setting for possible
accumulation of copper mineralisation. Each of these potential trap
sites represents a drill target and we are now using Induced
Polarization Surveys to further prioritise these.
In response
to what we have learned, our team has reprioritised the order in
which we will drill the next 10 targets. Beyond that and we are
putting plans in place for further phases of additional drilling.
Our goal is to vector in on a major copper
discovery.
This is a
very exciting time to be involved in Kavango."
Results and
interpretation
Processing, modelling and interpretation of
the AEM, Magnetic and Gravity survey data with
follow-up ground IP geophysical surveys is ongoing and systematic,
with the classification and ranking of over 90 inferred trap sites
believed to be associated with doubly plunging anticlinal fold and
fault structures within the lower D'Kar Formation, which hosts all
the mineralisation, deposits and mines found to date in the
KCB.
The extent of data processed to date is shown
in Figure 1.
Figure 1: Kavango KCB AEM
survey areas Blocks 1A & 1B with Digital Terrain images
overlaid on re-processed regional magnetic Tilt Derivative Image.
The map shows the extent to which AEM data from the survey has been
processed and modelled, with data for the central portion of Block
1A (green outline) inverted, modelled and interpreted, while the
area outlined in red is currently being Inverted and Modelled. CDI
data previously processed is being incorporated into the
interpretation (hatched area).
Kavango initiated IP Surveys consisting of IP
Gradient Array surveys to detect sulfide hot spots in the context
of the AEM inversions. We then conducted a series of Stacked
Schlumberger Sections designed to discern alteration and sulfide
mineralization signatures at depth. These were then compared
directly with the AEM inversions to develop priority targets. Ten
section lines were initially planned over the highest priority
areas identified from the AEM, totalling over 33-line kilometres
with seven section lines completed for 25-line
kilometres.
Interpretations based upon the IP Inversions
appear to be comparable with those from the AEM Inversions and are
supported by the logged drill data. We feel this combined method is
developing into a powerful targeting tool.
Variations in the chemical and physical
characteristics of the lithological units, type, continuity, and
connectivity of structural features and extent of hydrothermal
activity are considered to be reflected in IP response, making this
an effective tool in modelling potential trap sites, and of
hydrothermal alteration from fluid flow linked with mineralisation,
Figure 2.
The successful completion of the first two
stratigraphic holes in the 5,000m Phase 1 diamond drill campaign at
Karakubis has validated the exploration model with three distinct
achievements: firstly identification of lower D'Kar Formation
stratigraphy, secondly the detection of a wide zone of hydrothermal
alteration, and thirdly the discovery of copper sulphides and
pathfinder minerals in the siltstones within the
sequence.
Figure 2: Cross section
looking NE and showing the borehole traces for KCBDD002 and
KCBDD003. The boreholes intersected stacked sequences of units
comprising arkose, sub-arkose, sandstone, siltstone and marl,
displayed by grain size and colour coded (Arkose-orange brown,
sub-arkose-light brown, sandstone-grey, siltstone-green &
marl-blue). A fault, interpreted from the resistivity, was logged
in KCBDD002 and appears to separate the different lithologies
intersected in the holes. Copper sulphides and pathfinder minerals
were observed in both holes, with pXRF spot readings returning
values up to 1.8% copper (green left) and 0.36% lead (blue
right).
The presence of copper sulphides overprinting
pyrite, together with pathfinder minerals along parting planes, in
the structural fabric and within more porous lithologies, is
considered by Kavango to be evidence of a mineralised fluid moving
through what is interpreted to be a larger mineralised
system.
Kavango plans to work through as many of these
targets as it can with the remainder of the current 5,000m Phase 1
diamond drill program.
Kavango will systematically compile all the
data from its drilling programme and use the data to vector towards
a possible discovery.
For further information please
contact:
Kavango
Resources plc
Ben Turney
+46 7697 406 06
First Equity (Broker)
Jason Robertson
+44 207 374 2212
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'. Mr Grist is an
employee of Kavango Resources plc.
The technical information contained in this
announcement pertaining to geophysics have been read and approved
by Mr. Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical
Consultant, Jeremy S. Brett International Consulting Ltd. in
Toronto, Canada. Mr. Brett is a member of the Professional
Geoscientists of Ontario, the Prospectors and Developers
Association of Canada, the Canadian Exploration Geophysical
Society, and the Society of Economic Geologists. Mr. Brett
has sufficient experience that is relevant to geophysics applied
the styles of mineralisation and types of deposits under
consideration to act as a Qualified Person as defined under the
Canadian National Instrument 43-101, Standards of Disclosure for
Mineral Projects.