PRESS
RELEASE
19 August
2024
KAVANGO RESOURCES PLC
("Kavango" or "the
Company")
ZIM -- Extensive anomalous gold in soils
Prospect 4
Kavango Resources plc (LSE: KAV), the Southern
Africa focussed metals exploration company is pleased to announce
the receipt of gold assay results for its recent soil sampling
programme at Prospect 4, Hillside Project ("Prospect 4") in
Matabeleland, southern Zimbabwe.
The soil sampling programme returned anomalous
gold in soil values over an area of
1.5km², which is underlain by greenstones
and granites offset by a regional shear with multiple quartz-vein
complexes producing gold from artisanal surface
workings.
Highlights
·
Kavango has received 582 assay results for soil samples
collected over 1.5km², with anomalous values received
across much of the gridded area.
· The
soil samples were assayed for gold using a bottle roll cyanide
leach technique at Performance Laboratories in Zimbabwe in
conjunction, with handheld pXRF readings for other elements carried
out by the Company.
·
Anomalous gold values appear to be closely associated both
with the E-W trending shears favoured by the artisanal and
historical miners, and also the SSW - NNE trending structures
interpreted from geophysics.
·
Gold values appear across the whole grid and are open to the
W and E.
·
These assay results confirm a larger mineralised system
presently being worked only locally by the artisanal miners. They
also indicate the possible presence of additional potential gold
bearing structures not yet tested or worked.
·
Kavango previously announced results for a scoping hole
targeting a steeply dipping shear zone below artisanal workings
that intersected multiple broad zones of geochemically anomalous
gold values thought to relate to additional shears.
(announced >>>15th
April 2024)
·
Best results* in this hole, SKDD001,
included:
- 2.53
m @ 29.08 g/t gold from 97.47 m, associated with visible gold
(average peak grade of 212.07 g/t over 0.34 m).
- 1.32
m @ 1.80 g/t gold from 214.46 m.
· An
Induced Polarisation ("IP") survey identified three further
potential shear zones, parallel to the one being worked by
artisanal miners.
·
Kavango intends to mobilise the drill rig to Prospect 4,
after completing current drilling at Prospect 3.
*All quoted
thicknesses are apparent down hole intersection
thicknesses
Ben Turney,
Chief Executive of Kavango Resources, commented:
"As more results come in from Hillside, Kavango's exploration
is increasingly focussed on defining potential resources for
mining.
We
were already enthusiastic about the chances of near-term mining at
Prospect 4, when Hole SKDD001 intersected 2.53m @ 29.08g/ t gold
from 97.47m depth. Today's soil sample assays confirm the wider
potential for a possible minable gold ore body around this
target.
We
will now follow up with an Induced Polarisation survey to see if we
can identify further concealed shear zones that have not previously
been uncovered by local artisanal mining. If such structures exist,
which the soil assays suggest is probable, this will increase our
confidence ahead of further drilling.
We
look forward to bringing the drill rig back to Prospect 4 in the
coming weeks."
Results and
Interpretation
A soil sampling programme undertaken at
Prospect 4, in the Hillside Project area, returned anomalous gold
in soil values across an area of 1.5km²
that is underlain by greenstones and granites offset by a
regional shear with multiple quartz-vein complexes producing gold
from artisanal surface workings. See Figure 1 below:
![A diagram of a geological formation Description automatically generated with medium confidence](https://dw6uz0omxro53.cloudfront.net/3144729/194931b8-eeed-4f7a-b94d-9ae8ba88d3e9.jpg)
Figure 1: Prospect 4 geological mapping, with structural
features, historic mine locations and artisanal surface workings
together with gold in soil values.
The anomalous gold values appear to be closely
associated with the E-W trending shears favoured by the artisanal
miners but also with SSW - NNE trending structures interpreted from
the geophysics and clearly displayed on the Digital Terrain Map
("DTM"), shown in Figure 2. Anomalous trends of gold values linked
to interpreted structures appear to extend beyond the grid to both
the W and E.
![](https://dw6uz0omxro53.cloudfront.net/3144729/c90c905b-97b8-4c1b-a528-c9cbd411ca36.jpg)
Figure 2: Prospect 4 DTM, with structural features, historic
mine locations and artisanal surface workings together with gold in
soil values.
Down-slope dispersion of the gold through the
soil profile was of initial concern, however plotting of the values
on the DTM and review of field data plotted in 3D suggests there is
only minimal down-slope dispersion. Kavango believes that a degree
of concentration within the soil profile has taken place and is
exploited by the artisanal miners.
Kavango has received 582 assay results for soil
samples collected over 1.5km². The soil
samples were assayed using a bottle roll cyanide leach technique at
Performance Laboratories (Pvt) Ltd in Zimbabwe, which used a 500g
sample, leached for 24 hours with a solution containing 0.5% sodium
cyanide, and an Atomic Absorption ('AA') finish. Additional
analysis was also undertaken with a handheld pXRF providing
multielement data.
This has been used to identify trends for known
associated pathfinder elements and comparison with observed mineral
associations from the artisanal workings. Tungsten has a high
correlation with gold in the soil analysis and is reported as
scheelite by the artisanal miners, while abundant visible pyrite,
arsenopyrite and chalcopyrite all correlate well with gold in soil
and are routinely observed in both hand specimens and drill core
from SKDD001, Figure 3.
![](https://dw6uz0omxro53.cloudfront.net/3144729/36585422-f657-4028-8056-926314a6080b.jpg)
Figure 3: Prospect 4 geological mapping, with structural
features, historic mine locations and artisanal surface workings
together with arsenic and tungsten in soil
values.
The gold bottle roll results indicate a
potential larger more extensive mineralised system that is only
being worked locally by the artisanal miners, with significant
exploration potential for the discovery of further gold bearing
structures not only within the grid area but also extending beyond
the grid to the W and E. A large cluster of anomalous gold results
occur around the old Ixl mine over mapped structures but also
extending north over structures recently interpreted from the
geophysics. There are some anomalous gold values west of Sprog mine
supported by arsenic and tungsten anomalies similar to those
returned around the Ixl mine. Production figures for Ixl and Sprog
are listed below in Table 1.
Mine
|
Gold Kg
|
Gold Oz
|
Tonnes
|
Grade g/t
|
Ixl
|
154.94
|
4,981.4
|
11,900
|
13.0
|
Sprog
|
2.71
|
87.1
|
481
|
5.6
|
Table 1: Production Figures
from "The Geology of the Filabusi Greenstone Belt and Surrounding
Granitic terrane of Zimbabwe". Geological Survey Bulletin
No91.
Kavango previously announced results from a
scoping hole, SKDD001, targeting a steeply dipping shear zone below
artisanal workings south of the old Ixl mine, that intersected
multiple broad zones of geochemically anomalous gold values thought
to relate to additional shears.
(announced >>>15th
April 2024)
·
Best results, measured as downhole intersection
lengths, included:
- 2.53
m @ 29.08 g/t gold from 97.47 m, associated with visible gold
(average peak grade of 212.07 g/t over 0.34 m).
- 1.32
m @ 1.80 g/t gold from 214.46 m.
Subsequently an Induced Polarisation ("IP")
survey identified three further potential shear zones, parallel to
the one being worked by artisanal miners and transected in hole
SKDD001 that has associated tungsten and arsenic anomalies. See
Figure 4 below.
Figure 4: Prospect 4
cross-section looking west, with gold in soil values across the
profile, air photo image draped on DTM and IP Chargeability
displayed below.
Next
Steps
A further gradient array IP survey programme is
planned, following which the data will be modelled and inverted and
then integrated with the existing data. The combined interpretation
is expected to identify further drill targets. Holes are then
planned to be designed to expand the existing footprint of
artisanal workings at depth, along strike and to test newly
identified structures.
A systematic sampling exercise is planned to
collect a bulk sample from one of the historic mine workings as
well as representative samples from as many of the gold producing
artisanal workings as possible.
In order to assess the wider prospectivity of
the area and compare current artisanal gold production with
historic underground mine production, the assays from the bulk
sampling programme will be compared with assays from the drill
programme.
Kavango intends to recommence drilling at
Prospect 4, once it has completed this analysis. The Company will
provide a further update in due course.
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'. Mr Grist is an
employee of Kavango Resources plc.