Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to report finalisation of its drill strategy for four of its prospecting licences (“PLs”) in the Kalahari Copper Belt (“KCB”) (the “Drill Strategy”).
Over the last 12 months, Kavango has focussed its field exploration in the KCB on PLs 082/2018, 036/2020, 049/2020 and 052/2020 (the “Four PLs”). The Drill Strategy is the culmination of these efforts.
HIGHLIGHTS
– Kavango’s objective in the KCB is to make one or more discoveries of economically viable copper/silver deposits across its 12 PLs in the region
– The Drill Strategy is a flexible programme, designed to be delivered in staged phases and to a variety of depths
– Kavango expects to conduct ongoing optimisation as drill results are known
– Kavango has so far delineated 13 priority target areas (the “Priority Targets”) across the Four PLs:
– 188 drill collar locations identified
– Up to 37,600m of reverse circulation (“RC”) and diamond drilling proposed
– The Priority Targets are situated in underexplored areas of the KCB, which are in the vicinity of known high-grade copper/silver deposits
– Kavango identified the Priority Targets through:
– Geophysical surveying and data interpretation (airborne magnetics & airborne electromagnetics)
– Geological mapping, confirming favourable regional structures
– Intensive soil sampling, with recorded values of up to 119 parts per million (“ppm”) copper (pXRF values)
– Kavango will continue further field exploration across all 12 of its PLs in the KCB, in parallel to any drilling. The Company expects to add more target areas and drill collar locations to its inventory as this work progresses
Kavango has provided maps showing the Priority Targets on the Company’s website, via the link below:
https://www.kavangoresources.com/media-library/news-release-media/rns28september2022
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“I am extremely happy to provide an update on this major development in the Kavango story. With such a large, prospective land package in the Kalahari Copper Belt (KCB), it is vital that we are clear on the steps required on our road to discovery.
We have undertaken extensive geological, geochemical, and geophysical work to define our target areas precisely, with the aim of maximising our chances of success. If copper exists on our ground, I am confident that our highly experienced technical team will find it.
Through our flexible proposed drill programme, we have a total of 188 viable drill locations over 13 priority areas, each of which we believe gives us the chance of encountering copper mineralisation. In total our exploration drilling could total as much as 37,600m, which emphasises the scale of Kavango’s opportunity. Our ground could host multiple deposits, which is why we have been as thorough as we have in our approach.
With such large target areas to go for, we’ve worked diligently to rank our specific drill targets in order of priority. Our goal is to become a major player in the KCB and I look forward to updating shareholders in due course as we commence our maiden drill campaign in the KCB.“
Drilling strategy detail
Kavango has carefully designed a methodology for generating and ranking targets across its KCB licences, centred on combining multiple data sets. The Company’s approach brings together the combined geological, geochemical, and geophysical experience of its four senior technical team members, who together have more than 90 years of exploration experience. This approach includes:
I) Geological mapping
– This allows for the recording and measuring of licence geology, providing the bedrock for interpretation of geochemical and geophysical data
II) Soil sampling
– After identifying anomalous areas through soil sampling, Kavango’s team revisit each site to follow-up and ‘ground truth’, this allows Kavango to avoid false anomalies. It ensures that ongoing work focuses on the highest-priority targets – anomalies that are not just at elevated levels but also are continuous across multiple lines
III) Regional Airborne Magnetic (“AM”) surveying
– AM data is readily available in Botswana and provides a basis for validating geological mapping. Variations in magnetic mineral content allow for the identification of strata within geological sequences that can be used both within and across adjacent licence boundaries. This technique can significantly assist with the identification of large scale deposits, which are controlled by overall regional geological trends
IV) Licence specific Airborne ElectroMagnetic (“AEM”) surveying
– Kavango has flown AEM surveys across a number of its licences. This data is used to identify conductive bodies that could represent metal sulphides, and to assist detailed mapping of potential lithologies and structures
V) Target refinement
– Kavango carries out additional work, including infill lines of soil sampling and additional geophysics, such as Controlled-source Audio-frequency Magnetotellurics (“CSAMT”), to confirm and better define its highest priority drill targets
To date, geological mapping and soil sampling, supported by the ongoing integration of AM and AEM, have taken place across licences PL082/2018, PL036/2020, as well as the “Mamuno” licences (PL049/2020 and PL052/2020). These Four PLs sit within Kavango’s wider portfolio of 12 KCB licences covering 5,065km2.
The Company’s work has led to it defining and ranking 13 Priority Targets, which include values of up to 119ppm copper and are described in more detail in the table below. Because the Priority Targets are still being refined, it should be noted that the ranking of each may change as further data becomes available.
Kavango has currently identified a total of 188 drill collar locations over the Priority Targets for a total of up to 37,600m of test drilling. The Company’s goal is to make multiple significant copper/silver discoveries across its PLs. Kavango’s confidence is based on the quality of its work, which has highlighted the Priority Targets’ favourable geology, structural setting, and position relative to known KCB deposits.
In this way, Kavango plans to use the results from its initial drilling to inform deeper drilling and, potentially in future, resource drilling. The Company expects to add additional targets over time to its inventory, as it continues with further field exploration across its eight other KCB licences and unexplored areas within the Four PLs.
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SCOPING FOR REVERSE CIRCULATION AND DIAMOND DRILLING PROGRAMME IN THE KCB |
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Licence/ Prospect |
Target name |
No. of proposed holes / metres |
Description |
Supporting data |
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PL036/2020 (Infill soils underway, waiting analysis. Tromino surveys in progress. Regional aeromagnetic interpretation in progress.) |
Acacia |
30 drill collar locations / 6,000m |
Wide anomaly around the central part of the fold nose of the ‘Acacia fold’, measuring 2km x 2km. Possible source of this anomaly could be radial axial fold fractures, tapping into the Ngwako Pan/D’kar contact along the axis of a SW plunging anticline. |
Max value 56ppm Cu, 5 values above 20ppm Cu. Coincident Zn (+20ppm Zn) identified |
|
Morula |
30 drill collar locations / 6,000m |
Wide anomaly just south of the Acacia fold nose. Measuring 3km x 3km with a general NE-SW trend parallel to the regional stratigraphy. |
Max value is 38ppm Cu. (previous orientation survey associated this anomaly with calcrete/drainage) |
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Happy |
10 drill collar locations / 2,000m |
Low-tenor teardrop shaped anomaly to the south. 9km long and 1km at its widest. Located in the centre of an interpreted anticline. No exposure in the area. |
Defined by +15ppm Cu values. Maximum value is 25ppm Cu. Supporting anomalous Zn values (+20ppm Zn) |
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Kudu
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4 drill collar locations / 800m |
Newly identified NE-SW trending zone of anomalous Cu values. 18km long (non-continuous) target zone, within which are possible multiple targets including Lines 69 & 83. This trend is distinct, sub-parallel to stratigraphy and tight. Narrow focus suggests this could be a steeply dipping feature, and/or a sharp structural feature such as a fault. It is also immediately adjacent to what Kavango’s geologists have mapped as a structural repetition of the key Ngwako Pan-D’kar contact. |
Line 39. Defined by 8 values in excess of 30ppm Cu; max value 110ppm Cu. Line 69 Geochemical high 46ppm Cu value Line 83 Geochemical high 51ppm Cu value
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PL082/2018
(Infill soils completed, analysis in progress. Tromino surveys in progress. Regional aeromagnetic interpretation in progress.) |
Central Zone |
45 drill collar locations / 9,000m |
Follows the geological trend of a possible sub cropping anticline. This anticline forms the dome that hosts the Zeta and Plutus copper deposits identified by Discovery Metals, to the NE. The elevated copper values are postulated to represent a possible leakage zone from a redox contact underneath.
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Defined by Cu >30ppm, max 119ppm, plus anomalous zinc. Extends over some 27km and is also characterised by a zone of elevated magnetic response. Peak values along trend, in particular where supported by favourable structure will form initial focus. Quartz veining observed in field. Drilling will target intersection of structure and favourable stratigraphy at depth. |
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Northern Zone |
15 drill collar locations / 3,000m |
Robust anomaly extending over 8 km of geological strike length and 400m at its widest, no outcrop. Local drainage base level. Anomaly is located on the edge of a magnetic high, which bears similarities to the Ourea and Quirinus copper deposits identified by Discovery Metals in 2009. These deposits are interpreted to be on the limbs of tight anticlines. |
Cu: >30ppm, max 39.7ppm. Anomalous zinc. Previous work by Kavango identified a coincident elevated AEM response in this area. Target is an extensive one, with elevated metal values and high magnetic response – initial drilling could verify whether this relates to possible Karoo volcanics, or the targeted sediment hosted strata bound mineralisation. |
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South conductor |
12 drill collar locations / 2,400m |
High conductivity area identified by Kavango. Faulted. Further field follow up planned. |
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SW high |
3 drill collar locations / 600m |
Single point high geochemical value. Further field follow up planned. |
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Mamuno (PL049/2020, PL052/2020) Targeted AEM completed. Interpretation in progress. Tromino to continue soon. Infill soils planned. Regional aeromagnetic interpretation in progress. |
Main Zone (L6, L7, L10) |
33 drill collar locations / 6,600m |
Single large target 5km x 3.5km Trending NNE-SSW, the geochemical anomaly straddles the mapped prospective redox horizon on the limbs of a possible regional anticline. Thicker sand cover here may attenuate the geochemical signal, while the very flat terrain could cause dispersion of the anomaly by sheet wash. No obvious drainage that could have caused contamination or a false anomaly. |
Wide area of anomalous values >30ppm Cu. Peak value of 73ppm Cu. KAV has recently flown an AEM survey over this anomaly; interpretation is pending. |
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.
dri
Kavango Resources plc
Ben Turney
bturney@kavangoresources.com
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson
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’.