Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to announce its maiden drill campaign in the Kalahari Copper Belt (“KCB”).
The Company has signed a contract with Mindea Exploration and Drilling Services Pty (“Mindea”) for the first phase of drilling on licence PL082/2018. Kavango’s technical team believes this prospecting licence (“PL”) is a possible analogue to Khoemacau’s Banana Zone deposit.
HIGHLIGHTS
– Contract signed with Mindea for maiden KCB drill campaign
– Mindea to deploy a multi-purpose rig, capable of both diamond core (“DC”) and reverse circulation (“RC”) drilling
– First phase drill programme
– Up to 6 holes (est. 1,250m) on PL082/2018, as first phase of 37,600m drill strategy (announced >>> 28 September 2022)
– Drilling to commence no later than 9 October
– Expected completion by early November
– Samples to be sent to an internationally accredited laboratory for testing
– Drill Targets
– Two discrete copper geochemical anomalies, which align with mapped regional geology (announced >>> 26 August 2022)
– Northern Zone: 9km strike length with maximum width of 650m
– Central Zone: 27km strike length extending over length of PL082/2018
– Peak soil sample value of 118.8ppm Copper (“Cu”) (pXRF values)
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Our technical team has worked extremely hard to maximise our chances of making one or more copper discoveries in the Kalahari Copper Belt. Our thorough exploration programme over the last 18 months has delivered 14 priority targets and I am now delighted to announce our maiden KCB drill campaign.
This is a significant achievement for Kavango. Following our successful drilling in the Kalahari Suture Zone and at Ditau in H1, we are on course to have drilled all three of our projects during 2022.
We are very happy to have partnered again with Mindea. Mindea has been active in the KCB over recent months with some notable successes. This work has recently paused, so we took advantage of that break to initiate drilling on PL082.
We are very fortunate that Mindea has been using a multi-purpose rig on its other job, as this is exactly what we need to optimise our programme as it develops. The timing has also worked out very well, allowing us to drill so soon after the latest positive exploration results from this licence.
Our technical team has done a superb job in identifying such significant drill targets. The alignment of coincident geological, geochemical and geophysical data sets is decidedly encouraging at this stage.
We now approach our first phase drilling on the KCB with a high degree of confidence and look forward to mobilising the rig as soon as we can.”
First phase drill programme details
Kavango has signed a contract with Mindea for a first phase drill programme, consisting of an initial 1,250m of drilling on PL082/2018 in the KCB.
Mindea has been active in the KCB over recent months, with a multi-purpose rig capable of both diamond core and RC drilling. Kavango has been able to take advantage of a pause in that programme to engage Mindea to mobilise the rig to PL082/2018 for the first phase drill programme. Kavango intends to use the same rig for future drilling in the KCB, subject to its availability.
The Company’s technical team believes that PL082/2018 is a possible analogue to Khoemacau’s Banana Zone deposit. The Banana Zone deposit sits immediately to the south of Ghanzi Ridge, and has been reported as having an estimated total mineral resource of 55.8Mt @ 1.1% Cu & 16.4g/t Ag.
The first phase drill programme will focus on testing two discrete copper geochemical anomalies (the “Targets”), which are aligned with mapped underlying geology at PL082/2018. The Company has validated and improved the definition of the Targets through a follow-up infill soil sampling programme (announced >>> 29th September 2022).
The details of the Targets are as follows:
I) Central Zone (Cu: >30ppm, Max 118.8ppm)
– Follows the geological trend of a sub outcropping anticline. This anticline forms the dome that hosts the Zeta and Plutus copper deposits located by Discovery Metals to the North East. The elevated copper values are postulated to represent a possible leakage zone from an underlying redox contact
– The unit has been mapped to extend over the length of PL082/2018, extending over 27km, and is also characterised by a zone of elevated magnetic response
– Infill soil sampling has confirmed elevated readings along the Target, further strengthening its prospectivity
II) Northern Zone (Cu: >30ppm, Max 39.7ppm)
– A robust anomaly occurring in an area with no outcrop (under Kalahari cover) on the edge of a magnetic high that 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
– Previous work by Kavango identified an Airborne ElectroMagnetic (“AEM”) conductor, which coincides with the geochemical northern zone identified in this latest work
– Infill soil sampling confirmed that the Target extends over 9km of geological strike length and has a maximum width of 650m, which may comprise up to three separate parallel anomalies, with a peak value of 43ppm Cu (pXRF values)
Drilling is expected to commence by 9th October.
Kavango is also mobilising Controlled-Source Audio MagnetoTelluric (“CSAMT”) equipment to PL082/2018 and expects to complete up to 17 line-km of surveys. The Company’s objective is to provide resolution of the anticipated anticline structure and to ensure optimal drill orientation.
Next steps
The first phase drilling programme at PL082/2018 initiates commencement of Kavango’s comprehensive KCB drill strategy (announced >>> 27 September 2022).
The Company has so far identified 188 drill collar locations across the KCB and aims ultimately to complete up to 37,600m of RC and diamond drilling. These locations are centred on 13 priority target areas delineated across four PLs (PL082/2018, PL036/2020, as well as the “Mamuno” licences (PL049/2020 and PL052/2020)).
Kavango will continue further field exploration across all 12 of its PLs in the KCB in parallel with any drilling. The Company expects to add more target areas and drill collar locations to its inventory as this work progresses.
About Mindea
Mindea Exploration and Drilling Services (Pty) LTD was formed in September 2019 by Equity Drilling Limited and Maureen Mokgaotsane (Geologist), Sebanka Lobatlamang (Geologist) and Eddie Babuseng (Attorney at Law) to provide complete exploration solutions to its clients in Botswana.
Mindea is currently operated under the Botswana Citizen Economic Empowerment Policy and is owned 51% by local shareholders and 49% by Equity Drilling. Over the coming years, it is expected that Botswana nationals will wholly own Mindea, with Equity Drilling continuing to provide strategic and technical support.
Mindea operates to strict international safety standards and deploys the latest equipment to its projects. Mindea is rigorous in its planning and site preparation.
Reflecting the quality of its operations, Mindea has recently been awarded a 3-year contract by Debswana to drill various national projects in Botswana. In addition to this, Mindea is a regular drill contractor for DeBeers.
Further information in respect of Kavango 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 (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’.