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#KAV Kavango Resources PLC – KCB maiden drill programme
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’.
#SVML Sovereign Metals Limited – Kasiya Recognised by the President of Malawi
GLOBAL SIGNIFICANCE OF KASIYA RECOGNISED BY THE PRESIDENT OF MALAWI AT UNITED NATIONS
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) was delighted with a special mention of the Kasiya Rutile Project (Kasiya) by His Excellency Dr Lazarus McCarthy Chakwera, President of the Republic of Malawi, during his address at the 77th session of The United Nations General Assembly in New York.
Extract from His Excellency Dr Lazarus McCarthy Chakwera’s address: “We are delighted that many private sector investors are flocking to us to join the agricultural revolution that is coming to Malawi, as well as investors in mining, who know that the recent discovery in Malawi of the largest deposit of rutile in the world means that Malawi’s economic rise is imminent.”
His Excellency’s confirmation of the importance and global significance of Kasiya comes as Sovereign continues its close working relationship with the Government of Malawi and other key stakeholders.
The Expanded Scoping Study announced in June 2022 confirms Kasiya could become one of the world’s largest and lowest cost producers of natural rutile and natural graphite with a carbon-footprint substantially lower than current titanium feedstocks alternatives while significantly contributing to the social and economic development of Malawi.
Sovereign’s Managing Director Dr Julian Stephens commented: “It is a terrific endorsement of the Kasiya discovery and its immense potential by receiving recognition at such an important global forum. Sovereign appreciates the great support it has received from the Malawi Government and we look forward making a significant contribution to development of the mining sector and achievement of the country’s economic vision.“
ENQUIRIES
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Dr Julian Stephens (Perth) +61(8) 9322 6322 |
Sam Cordin (Perth) |
Sapan Ghai (London)
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Nominated Adviser on AIM |
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RFC Ambrian |
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Bhavesh Patel / Andrew Thomson |
+44 20 3440 6800 |
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Joint Brokers |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Optiva Securities |
+44 20 3137 1902 |
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Daniel Ingram |
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Mariela Jaho |
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Christian Dennis |
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About Sovereign Metals
Sovereign Metals Limited (ASX:SVM & AIM:SVML) is an ASX and AIM-listed company focused on the exploration and development of its Kasiya rutile project in Malawi.
The Company recently completed an Expanded Scoping Study which confirmed Kasiya as a large-scale, long-life operation with a low-cost profile as a significant source of critical raw materials. Kasiya has the potential to become a major producer of both the natural rutile and graphite markets whilst contributing significantly to the economy of Malawi.
Natural rutile is the purest, highest-grade natural form of titanium dioxide (TiO2) and is the preferred feedstock in manufacturing titanium pigment and producing titanium metal.
The natural rutile market is in structural deficit with current supply estimated to decline rapidly by 45% in the next three years, following the scheduled closures by two major high-grade producers1. A resurgence in demand for titanium pigment and from the welding sector combined with concurrent supply shortages has led the CIF China spot prices sharply upwards to over US$2,200 per tonne2.
Sources
1. TZMI
2. Ruidow.com based on Australian Rutile (TiO2>95%, P<0.03%, S<0.03) CIF Tianjin Port
Forward Looking Statement
This release may include forward-looking statements, which may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These forward-looking statements are based on Sovereign’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
#KAV Kavango Resources PLC- KCB – Enhanced drill target resolution over PL082
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to report that infill soil sampling has successfully enhanced target resolution at its Kalahari Copper Belt (“KCB”) licence PL082/2018, ahead of drilling.
Based on in-house data analysis, Kavango’s technical team believes PL082/2018 is a possible analogue to Khoemacau’s Banana Zone deposit, which sits immediately to the south of Ghanzi Ridge and which has been reported as having an estimated total mineral resource of 55.8Mt @ 1.1% Cu & 16.4g/t Ag.
HIGHLIGHTS
– Infill soil sampling has confirmed and extended the existing two target zones within PL082/2018 (announced >>> 26 August 2022) and added a third new target zone (the “Target Zones”)
– 312 soil samples taken, to add to the 3,182 existing samples
– Line spacing reduced to 400m from 800m in prospective areas
– New Target
– The “Middle Zone” is located between the Northern Zone and Central Zone, with a 1.25km strike and peak value of 35ppm Cu
– Enhanced targets
– Northern Zone: strike length extended to 9km from 8km and maximum strike width extended to 650m from 400m
– Central Zone: elevated copper (Cu) levels along 27km strike length confirmed
– Next steps
– Up to 17km of Controlled-Source Audio MagnetoTelluric (“CSAMT”) survey lines
– Reverse Circulation (“RC”) and/or diamond drilling within the Target Zones
Kavango has provided a map showing the Target Zones at PL082/2018 on the Company’s website, via the link below:
https://www.kavangoresources.com/media-library/news-release-media/rns29september2022
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“This latest infill soil sampling on PL082 underscores Kavango’s rigorous approach towards exploration, prior to drilling. The results are particularly encouraging in that they strengthen and extend our existing targets (the Northern and Central Zones), while adding a third entirely new target (the Middle Zone).
PL082/2018 is among the most promising of our 12 prospecting licences in the Kalahari Copper Belt due to its favourable regional geological structures, the consistent copper values we’ve encountered, and what we believe are significant geophysical similarities to Khoemacau’s nearby Banana Zone deposit.
We now have mobilised CSAMT equipment to help us learn more about the subsurface structures in this area, as a final step before drilling.“
Infill soil sampling details
Kavango previously identified two discrete copper geochemical anomalies, which align with mapped underlying geology at PL082/2018:
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 entire length of PL082/2018, extending over 27km, and is also characterised by a zone of elevated magnetic response
II) Northern Zone (Cu: >30ppm, Max 39.7ppm)
– A robust anomaly extending over 8km of geological strike length 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 AEM conductor in this area extending over approximately 8km and 400m at its widest. This coincides with the geochemical northern zone identified in this latest work
Ahead of drilling, Kavango has completed an additional infill soil sampling programme, designed to increase the Company’s understanding of both zones and the surrounding prospective area. In total, Kavango collected an additional 314 samples on infill lines. This reduced line spacing in the high prospectivity areas to 400m from 800m and added to the existing data set of 3,182 samples previously taken.
The new data has enhanced the two existing discrete copper anomalies as follows:
– Confirmation of elevated copper readings along the Central Zone further strengthens the target’s prospectivity
– Strike extent of the Northern Zone increased to 9km from 8km and the maximum width has been widened to 650m from 400m, which may comprise up to 3 separate parallel anomalies with a peak value of 43ppm Cu (pXRF values)
The infill soil sampling has also identified an additional 1.25km long copper anomaly, which the Company has designated the “Middle Zone”:
– Located between the existing Northern Zone and Central Zone, with a peak value of 35ppm Cu (pXRF values)
– The Middle Zone aligns with the regional geological trend (NE/SW) and straddles a geological contact between two integral units of the D’kar formation.
Next steps for PL082/2018
Kavango is in the process of mobilising CSAMT equipment to PL082/2018 and expects to complete up to 17 line-km of surveys to provide resolution of the anticipated anticline structure and to ensure optimal drill orientation.
The Company intends then to follow up with an RC drill programme, as the first phase of its comprehensive KCB drill strategy (announced >>> 27 September 2022). Kavango has identified 188 drill collar locations so far across the KCB and aims ultimately to complete up to 37,600m of RC and diamond drilling.
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
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’.
#KAV Kavango Resources – KCB – target definition PL082/2018
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) provides an update on drill targeting at its Kalahari Copper Belt (KCB) licence PL082/2018.
Highlights
– Large-scale, high-resolution soil sampling program completed ( 3,178 samples)
– Confirmation of two major drill targets (the “Targets”):
– Northern Zone, 8km strike length
– Central Zone, 27km strike length
– Peak value of 118.8ppm Cu (pXRF values)
– Geochemical anomalies conform with the underlying geology previously mapped by Kavango
– Strong indication of in-situ mineralisation
– PL082/2018 is a potential analogue to Khoemacau’s Banana Zone deposit, immediately to the south of Ghanzi Ridge (total high-grade resource of 55.8Mt @ 1.1% Cu & 16.4g/t Ag)
– Kavango has provided a series of maps showing the Targets via the link below:
https://www.kavangoresources.com/media-library/news-release-media/rns26august2022
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Leading on from the work completed on PL036/2020, as reported on 03 August 2022, our team has worked rapidly to complete a further substantial soil sampling program on licence PL082/2018, under the Kavango earn-in agreement with LVR Geoexplorers.
The presence of anomalous values to 118ppm copper is significant in terms of this project’s prospectivity. These results, combined with the mapped geology and the existing Kavango AEM data, has enabled us to identify two targets of considerable strike length (8km and 27km) to test with drilling. Our targets have notable similarities with other recently drilled targets in this area.
I am presently in Botswana with Hillary Gumbo and Brett Grist. While we are here, we are meeting with drill contractors and look forward to our maiden KCB drill campaign.“
Target Detail
Two linear geochemical features anomalous for copper have been identified:
a) 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 Deposits to the North East. The elevated copper values are postulated to represent a possible leakage zone from a redox contact underneath
– This unit has been mapped to extend over the entire length of the Prospecting Licence (PL), extending over some 27km, and is also characterised by a zone of elevated magnetic response
b) The Northern Zone (Cu: >30ppm, Max 39.7ppm)
– A robust anomaly extending over 8 km of geological strike length has been identified
– This occurs in an area with no outcrop (under Kalahari cover)
– This is located on the edge of a magnetic high, which bears similarities to the Ourea and Quirinus 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 AEM conductor in this area extending over approximately 8km and 400m at its widest. This coincides with the geochemical northern zone identified in this latest work
Both targets also have widespread elevated zinc values (>60ppm, Max 87.2ppm) levels.
Planned follow-up for PL082/2018
Next steps, ahead of a drill program on these targets, to include:
– Review and integration of existing Kavango AEM data
– Limited infill soil sampling (reducing 800m to 200m line spacing) in selected areas to enable final definition of drill targets
– Static Seismic surveys (Tromino) using Kavango-owned equipment, to evaluate overburden thickness
– CSAMT aimed at providing resolution of targeted anticline structure and ensure optimal drill direction is selected
A reverse circulation (‘RC’) drill program will then follow.
Mamuno Licences
Elsewhere, the KCB Targeting Program remains ongoing on the Mamuno licence package. Results are expected shortly.
Kavango Sampling Methodology
– Excavation to 30-40cm below the surface
– Sample is collected from bottom of hole and sieved to approximately 200g of -180um fraction
– Sample is analysed using the company’s in-house Vanta XRF Analyser in geochemistry mode with three beams switched on for a total analytical time of 120 seconds per sample. Analyses are done using a desk-top docking station to ensure a consistent presentation distance between the sample and analyser window
– Reference materials (of known values) are inserted after every 25 samples and at the end and beginning of each batch
– Resultant data is then used to generate user factors for normalising the analytical results prior to interpretation
– Selected samples are also sent to an independent laboratory in South Africa for multi-element analyses by conventional means
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
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’.