Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the Company has identified 30km strike length of distinct magnetic Proterozoic gabbro (the “30km Strike Length”) within Target Area A of the Kalahari Suture Zone (“KSZ”) Project, in the vicinity of Hole TA2DD002.
The 30km Strike Length is now a high-priority exploration target for the detection of possible large-scale nickel/copper/platinum group element (Ni/Cu/PGE) mineralisation.
Spectral Geophysics (“Spectral”), the Company’s strategic partner, has produced an updated 3D magnetic susceptibility model (the “Updated Mag Sus Model”) of the Proterozoic gabbro in Target Area A. This maps the 30km Strike Length.
According to the Updated Mag Sus Model, zones of the 30km Strike Length can be intercepted as shallow as 500m. Given that the Updated Mag Sus Model has been constrained using stratigraphic data from Hole TA2DD002, the Company is confident in this depth prediction.
Kavango’s confidence in the Updated Mag Sus Model is based on:
I. Physical evidence seen in Proterozoic drill core from Hole TA2DD002 ( announced 14 September )
II. Initial results from the downhole electromagnetic (“DHEM”) survey of Hole TA2DD002 ( announced 29 October )
III. Spectral’s recognised technical experience and expertise
Highlights:
Ø Spectral inverted and reinterpreted ground magnetic survey data to create the Updated Mag Sus Model in the vicinity of Hole TA2DD002
– Spectral has prepared a report for the Company, which describes the analytical methods it used to produce the Updated Mag Sus Model. Kavango will publish this report on its website.
Ø Spectral’s Updated Mag Sus Model:
– Accurately predicts the intersection of TA2DD002 with the Proterozoic gabbro at 650m
– Confirms that Proterozoic rocks are one set of causative bodies for the magnetic anomalies, identified from both aeromagnetic and ground surveys
– Confirms that the extent of the Proterozoic rocks can be mapped using both aeromagnetic and ground magnetic surveying
– Shows that Hole TA2DD002 appears to have clipped the western edge of the more magnetic Proterozoic rocks, which are hosted within the main body of Proterozoic. The main body of the more magnetic Proterozoic rocks appears to extend approximately 350m to the east
– Indicates the Proterozoic rocks could be intercepted at <500m depth to the NNW of TA2DD002
– Suggests the Proterozoic rocks are possibly shallower to the south on the same geological trend
Ø As with the Great Red Spot ( announced 22 November ), Kavango increasingly believes the 30km Strike has potential to host stacked Karoo-age and Proterozoic-age Ni/Cu/PGE mineralisation
– Based on visual inspection of core samples taken from TA2DD002 and KSZD001, the Company’s preliminary view is the Proterozoic rocks in these two areas experienced differing intrusive and/or metamorphosing events ( announced 16 November )
– Kavango will test this theory with detailed petrographic work and various assay techniques, performed by internationally accredited laboratories in South Africa.
Ø Kavango expects to use the Updated Mag Sus model to guide future exploration in the KSZ, specifically to position future Time Domain Electromagnetic (“TDEM”) surveys
Ø The Company will publish images from the Updated Mag Sus Model on its website ( www.kavangoresources.com ) and its Twitter feed ( @KavangoRes )
Ø Kavango will host a shareholder webinar in early December to present its future exploration strategy for the KSZ. Key members of Kavango’s technical team will participate in this event. Details will be published shortly.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Today’s news shows how the various threads of this year’s complex exploration efforts in the Kalahari Suture Zone are starting to tie together. We’ve used the latest remote sensing technology to identify distinct targets, have nearly completed a ground-breaking drill campaign and recovered physical evidence in core samples to support our upgraded geophysical modelling.
It very much feels like we are closing in on a scalable exploration strategy to crack the 5-decade challenge posed by the KSZ.
Spectral Geophysics’ updated magnetic susceptibility model of Target Area A illustrates the enormous prospective potential of our licence areas in this region.
The 30km-long magnetised body, within the Proterozoic gabbro, is just one possible host environment for large-scale nickel/copper/platinum group element mineralisation. Above that sits the Karoo, which still remains a core focus of ours.
The fact that we have at least four other sizeable target zones within 25km distance of of the 30km Strike Length (including the Great Red Spot) highlights how big this project is. The possibility of stacked plays overlying each other, simply adds to the overall promise.
Now that we are increasingly confident in our ability to explore our ground successfully, we look forward to running accelerated field programmes next year. We will present more detail about our updated strategy in our hosted webinar, early next month.”
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
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson