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Kavango Resources #KAV – KSZ Update & Expansion
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to provide an update on its Kalahari Suture Zone (“KSZ”) Project.
Highlights:
Ø Update on Hole TA2DD002:
– TA2DD002 is the second hole in the planned 6-hole programme currently being undertaken to investigate the Karoo gabbros in the Hukuntsi section of the KSZ.
– Double shift drilling commenced on Friday 20 August
– As of 1800 on Sunday 22 August the Hole was at 137m
– Hole to test deeper Karoo gabbro “keel”, believed to be connected to the same gabbro encountered in Hole TA2DD001 (announced 16 August 2021), 1km to the west
– Additional objective to test potential contact between Karoo and Proterozoic gabbros, which might represent a possible ‘feeder zone’
– Hole to target western part of the same >1km geophysical anomaly (“Target A2”) drilled at Hole TA2DD001 (announced 20 April 2021)
– Anticipated target depth of 400m to 450m (though preparations in place to drill up to 800m depending on contact with any gabbro encountered)
Ø Downhole electromagnetic (“EM”) survey Hole TA2DD001
– Hole cased down to 393m from surface with steel casing, because of broken ground conditions
– EM probe run by Spectral Geophysics Ltd (“Spectral) from 394m to 560m
– According to analysis from Spectral, the A2 Time Domain Electromagnetic (“TDEM”) anomaly has been masked by the steel casing at 370m (i.e. the EM signal could not penetrate it)
– Results inconclusive, but alternative options being evaluated for future hole design and possible downhole EM surveys
Ø Award of two new PLs in the KSZ covering a combined 1,258km2
– Applied for in March 2021
– PL081/2021 covers 987.8km2 across the eastern edge of the KSZ
– PL080/2021 covers 270.4km2 and is contiguous with the Company’s existing PLs in the northern section of the KSZ
– Both are 3-year licences, with the option of two 2-year renewal periods
– £52,000 spending commitment in each PL over first 3 years
– Kavango now holds 14 PLs in the KSZ, covering 8,751.7km2
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“I’m very pleased at how quickly we’ve progressed to double shift drilling at Hole TA2DD002. We are now successfully moving through the gears of this drill campaign. The speed at which Equity Drilling/Mindea safely mobilised the rig to the new site is encouraging.
Core recovery continues to be consistent and of the highest standard.
Meanwhile, the inconclusive results of the downhole EM survey of Hole TA2DD001 emphasise some of the engineering challenges we face. Keeping a deep hole open to depth in the KSZ is tough. It’s a credit to the drillers that Spectral got the EM probe from 394m depth to 560m, but the steel casing from surface to 393m meant readings could not be taken below this depth. We now believe the primary A2 Conductor is at 370m.
While the cores we extract are by far the most important data source, it would have been helpful to see the EM response of the A2 Conductor at its base. The steel casing will be left in place for the time being, until the downhole survey (to confirm the orientation of the hole) is completed. At this point we will seek to remove the casing and possibly run another, shallower downhole EM survey. However, given what we have experienced so far with the ground closing in on itself, we have modest expectations about whether this will be possible.
Whatever the case, the results of the assays and the whole rock geochemical analyses should provide us with the most valuable evidence we need to guide future exploration.
With the award of 1,258km2 of new prospecting licences and working capital over £3million, Kavango is well-positioned to take full advantage of its strategic hold over this highly prospective region.”
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 and the map of the A-C Corridor have been read and approved by Mr Mike Moles (BSc (Geology) & BSocSci (African Studies), who is a Member of the Australian Institute of Mining & Metallurgy (MAusIMM) and has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Moles is a beneficial shareholder of Kavango Resources plc.
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 8,751.7km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
EM Super Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit –
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Norilsk Style: copper/nickel/PGE mineralisation associated with the intrusion into the upper parts of the Earth’s crust of mafic magma, which form magma chambers that sit below volcanic vents or fissures that extrude basaltic lava onto the surface (Hawaii is a possible modern equivalent). The Norilsk intrusions tend to have distinct morphologies, combining thin gabbro sills (wings) with deep keels (thought to be associated with feeder dykes) at the base.
Norilsk Model: a genetic geological model similar to that pertaining to the Norilsk/Talnakh deposits in Siberia. Traditionally, it was thought that, during emplacement, the magma incorporated sulphur rich country rock (e.g. coal measures) or evaporites into the melt, which allowed the molten magma to become sulphur saturated. The free sulphur would then combine, preferentially, with Cu/Ni/PGE metal ions to form metal sulphides, which, being heavy, tended to accumulate in traps or into the keel of the magma chamber. However, modern research suggests that the process might be more complex and may also involve changes of the chemical and physical properties of the magma during the introduction of new pulses of molten material from below. Such sudden changes may have caused rapid segregation of metal sulphides within and above the feeder dykes within the keel of the intrusion.
Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.
Kavango Resources #KAV – KSZ Hukuntsi – A2 Target Depth & Drilling Expansion
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce successful completion of the first geological borehole in Target Area A (“Hole TA2DD001”) in the Hukuntsi (northern) section of the Company’s Kalahari Suture Zone (“KSZ”) Project. Hole TA2DD001 was drilled to a depth of 578m.
Following completion of Hole TA2DD001, the Company is pleased to announce it has signed an addendum to the current drill contract with Equity Drilling & Mindea Exploration and Drilling Services (Pty) (“Mindea”), which will now see the Company drill up to six geological holes in the current campaign in the KSZ (the “Campaign”).
Highlights
Ø Hole TA2DD001:
– Drilled to a total depth of 578m
– Drilling operations halted 10m below final contact with the Karoo gabbro
– Primary objective fullfilled, with core samples successfully extracted throughout the entire hole
– Visual inspection of cores confirms presence of sulphides
– Coal seams encountered, confirming presence of potential source of sulphur for formation of magmatic sulphides
– Core cutting expected to take 3-4 weeks to enable full sweep analysis of all core samples
– Downhole electromagnetic (“EM”) survey to commence immediately
Ø Full sweep analysis of core samples to include:
– Assay testing
– Fire assay testing for gold and Platinum Group Elements (“PGEs”)
– Whole rock geochemical analysis
– Petrology analysis
Ø Further expansion of the Campaign:
– Up to six boreholes now planned in the Campaign, targeting Target Areas A and C (the “A-C Corridor”) and Target Area B
– Immediate mobilisation of rig to site of Hole TA2DD002 in Target Area A
– On completion of Hole TA2DD002, rig to mobilise to Target Area B to drill the Company’s primary exploration target (“Target B1”, announced 2 July 2021)
Ø Final results to be announced on completion of the Campaign.
Ø Hole TA2DD002:
– Located 1km west of Hole TA2DD001
– Hole to test deeper Karoo gabbro “keel” (est. up to 800m), believed to be connected to the same gabbro encountered at Hole TA2DD001
– Additional objective is to test potential contact between Karoo and Proterozoic gabbros, which might represent a possible volcanic ‘feeder’ zone
– Hole to target the same >1km geophysical anomaly drilled at Hole TA2DD001 (announced 20 April 2021)
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Our strategic objective in the KSZ in 2021 is ‘proof of concept’. If we can achieve this, the prize on offer is considerable.
The successful completion of Hole TA2DD001 will hopefully prove to be a significant step forward in that direction.
This is the deepest hole Kavango has drilled and I would like to thank Equity Drilling and Mindea for the exceptional engineering effort they have accomplished on our behalf. The quality of core samples is superb and provides us with exactly the raw materials we need to perform detailed rock analysis to test the KSZ’s potential to host magmatic sulphide ore bodies.
Although we must remain measured, we are sufficiently encouraged by what we have seen so far geologically and operationally, to expand our current drill programme in the KSZ to up to six holes.
The drill rig is mobilising 1,000m from its current location to test a deeper ‘Norilsk-style keel’ formation, on the western edge of the A2 conductive anomaly. This next hole should really take us into the guts of the KSZ and will hopefully provide us with the most valuable geological data recovered yet in this region.
Following completion of drilling operations in Target Area A, we will then move the drill rig to Target B1. This is our current primary exploration target. The conductive anomaly is approximately 475m by 550m, with a verified conductance reading of 8,200Siemens.
Once we have completed drilling Target Area B our intention is to bring the rig back to Target Area C, to test the potential of the ‘A-C Corridor’.
We now move forward with confidence to the next hole.”
Operational Update
Drilling operations at Hole TA2DD001 commenced on 21 July 2021 and finished on 15 August 2021. Mindea, the drill rig operator, drilled to a total depth of 578m. The original target depth was 500m, but contact with the Karoo gabbro lasted until 568m.
The Company chose to drill a further 10m below this formation before halting operations to allow for preparation of an immediate downhole EM survey by Spectral Geophysics (“Spectral”). Spectral expects to complete the downhole EM survey over the coming days.
Mindea successfully retrieved high quality core samples throughout Hole TA2DD001 in 3-meter runs. These samples are currently being cut, ready for shipment for laboratory analysis. The Company intends to test all gabbroic samples collected and plans to release full results on completion of the Campaign.
Kavango is confident that all of the gabbro samples collected from Hole TA2DD001 are Karoo-age. The presence of Karoo sediments above and below the gabbro samples appears to confirm the stratigraphic relationship, with clearly defined contacts at the chilled margins.
Laboratory testing will include standard assay testing for base metals, fire assay testing for gold and PGEs, whole rock geochemical analysis and petrology analysis of thin sections.
Mindea will now mobilise the drill rig to the site for Hole TA2DD002, 1,000m from its current location.
Hole TA2DD002 targets a deeper ‘Norilsk-style keel’ Karoo gabbro, as well as the western edge of the A2 conductor (targeted by Hole TA2DD001). Kavango expects to drill up to 800m at Hole TA2DD002, with the goal of testing the potential contact between the Karoo and Proterozoic gabbros. Kavango believes this could represent a possible Karoo-age feeder zone.
The Company will make a further announcement when drilling operations commence at Hole TA2DD002.
Following completion of Hole TA2DD002, Mindea will then move the rig to Target Area B and is expected to drill two holes here. Target Area B is roughly 16km from Target Area A.
The first of geological hole in Target Area B will target the conductive anomaly of the Target B1 (announced 02 July 2021). Target B1 is 475m by 550m, with a conductance of approximately 8,200Siemens. The decay constant is estimated to be in excess of 350ms. This is currently Kavango’s primary exploration target in the KSZ.
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 information in this press release that relates to “geological and/or geophysical results” for the LVR Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc.
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
EM Super Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit –
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Norilsk Style: copper/nickel/PGE mineralisation associated with the intrusion into the upper parts of the Earth’s crust of mafic magma, which form magma chambers that sit below volcanic vents or fissures that extrude basaltic lava onto the surface (Hawaii is a possible modern equivalent). The Norilsk intrusions tend to have distinct morphologies, combining thin gabbro sills (wings) with deep keels (thought to be associated with feeder dykes) at the base.
Norilsk Model: a genetic geological model similar to that pertaining to the Norilsk/Talnakh deposits in Siberia. Traditionally, it was thought that, during emplacement, the magma incorporated sulphur rich country rock (e.g. coal measures) or evaporites into the melt, which allowed the molten magma to become sulphur saturated. The free sulphur would then combine, preferentially, with Cu/Ni/PGE metal ions to form metal sulphides, which, being heavy, tended to accumulate in traps or into the keel of the magma chamber. However, modern research suggests that the process might be more complex and may also involve changes of the chemical and physical properties of the magma during the introduction of new pulses of molten material from below. Such sudden changes may have caused rapid segregation of metal sulphides within and above the feeder dykes within the keel of the intrusion.
Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.
Kavango Resources #KAV – KSZ Hukuntsi Proof of Concept drilling commences
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that drilling has commenced on Target A2 (“A2”) in the northern (Hukuntsi) section of the Kalahari Suture Zone (“KSZ”).
The goal of this geological borehole is to retrieve core samples from the bottom of the “Norilsk style keel” at A2. The Company’s hope is that assay and other analysis of said rock samples will result in “proof of concept” that the Karoo-age gabbros in the KSZ have the potential to host magmatic sulphide ore bodies.
The target depth at A2 is currently estimated to be 500m.
On completion of drilling operations at A2, Kavango’s drill partners (Equity Drilling Ltd and Mindea Exploration and Drilling Services (Pty) Ltd) will immediately mobilise the rig to Target C1 (“C1”), 11km away. The Company believes A2 and C1 are on the same geological corridor.
Following completion of drilling at C1, the rig will then mobilise to Target B1 (“B1”). Plans for this hole are currently being finalised and the Company will provide an update in due course.
Kavango estimates A2’s properties are:
– The target is 1km in length and is open along strike
– It extends between 250m to 700m below surface and is gently dipping
– A decay constant of approximately 340msec and conductance of approximately 3000 Siemens, readings which Kavango management considers are consistent with nickel sulphide deposits elsewhere in the world
– Located in the right geological setting, at the bottom of a “keel” in the gabbroic intrusion, according to the Company’s Magnetic 3D-Model (announced 8 September 2020)
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Years of hard work and dedication have brought us to this point. We could now be on the cusp of achieving something truly great. It can be difficult to communicate in an RNS quite how much effort and creative energy goes into a project like the Kalahari Suture Zone.
The going hasn’t been easy, but everyone has stuck with it, often making great sacrifices along the way. I am immensely proud of our team. If anyone has ever deserved success in field exploration, it is the people who have given so much to Kavango.
With the drill bit now turning at A2, we should soon hopefully become the first company ever to retrieve core samples from the bottom of a Karoo-age gabbro in the region.
We have great confidence in Equity Drilling and Mindea to drill boreholes that will enable us to realise this ambition. The focussed planning that has gone into our drill campaign has been exceptional. Safety and security standards are international quality and the engineering design is robust.
Obviously this is a business where there can be no guarantees, but everything possible has been done to minimise our operational risks. The next few months promise to be incredibly exciting.”
Primary objective of the current KSZ drill campaign
Kavango’s primary objective is to become the first company ever to retrieve drill core from the bottom of the “keels” of the Karoo-age gabbros in the KSZ. The Company anticipates that drill-core from these holes will provide firm physical evidence of the KSZ’s potential to host ‘Norilsk-style’ metal sulphide deposits.
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.
About Equity Drilling
The owners of Equity Drilling are extremely experienced drill operators, with extensive experience of successfully working on technically challenging projects across Africa.
Equity Drilling established Africa’s first Drilling School in Botswana, the Africa Mining and Drilling Institute (“AMDI “)
AMDI is Botswana Qualifications Authority (BQA) certified, which offers internationally recognised certification to all students wishing to be taught exploration drilling. AMDI has an exclusive working relationship agreement in place with the Australian Drilling Industry Association (the “ADIA”) and offer the ADIA’s DICAT curriculum with a strong emphasis on safety in the workplace.
AMDI also offers funds the delivery of pre-industry courses to students from local communities, who have had no previous work experience. This course prepares students for the work place and making them eligible for placement into the industry on graduation. Mindea’s own labour resources have been drawn from these pre-industry course graduates
About Target A2
Kavango estimates Target A2’s properties are:
– 1km length, which is open along strike
– Extends between 250m to 700m below surface and is gently dipping
– Decay constant of approximately 340msec and conductance of approximately 3000 Siemens, readings which Kavango management considers are consistent with nickel sulphide deposits elsewhere in the world
– Located in the right geological setting, at the bottom of a “keel” in the gabbroic intrusion, according to the Company’s Magnetic 3D-Model (8 September 2020)
————————————————————————————————————–
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.comand on Twitter at #KAV.
For additional 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 information in this press release that relates to “geological and/or geophysical results” for the LVR Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc.
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
EM Super Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit –
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Norilsk Style: Means copper/nickel/PGE mineralisation associated with the intrusion into the upper parts of the Earth’s crust of mafic magma, which form magma chambers that sit below volcanic vents or fissures that extrude basaltic lava onto the surface (Hawaii is a possible modern equivalent). The Norilsk intrusions tend to have distinct morphologies, combining thin gabbro sills (wings) with deep keels (thought to be associated with feeder dykes) at the base.
Norilsk Model: Means a genetic geological model similar to that pertaining to the Norilsk/Talnakh deposits in Siberia. Traditionally, it was thought that, during emplacement, the magma incorporated sulphur rich country rock (e.g. coal measures) or evaporites into the melt, which allowed the molten magma to become sulphur saturated. The free sulphur would then combine, preferentially, with Cu/Ni/PGE metal ions to form metal sulphides, which, being heavy, tended to accumulate in traps or into the keel of the magma chamber. However, modern research suggests that the process might be more complex and may also involve changes of the chemical and physical properties of the magma during the introduction of new pulses of molten material from below. Such sudden changes may have caused rapid segregation of metal sulphides within and above the feeder dykes within the keel of the intrusion.
Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.
Kavango Resources #KAV – Expansion of drilling, KSZ ops update and Placing
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce an expansion to the Company’s current drill programme in the Kalahari Suture Zone (“KSZ”), an operational update on the KSZ and a £1.94 million Placing.
Highlights
Ø Expansion to drilling programme:
– A 550m borehole to be drilled through Target B1, following completion of operations at Targets A2 & C1 (announced 10 June 2021)
– Target B1 is 475m by 550m, with a conductance of approximately 8,200Siemens and decay constant estimated to be in excess of 350ms
– B1 is in a separate, distinct geological setting to the A-C corridor (announced 15 June 2021)
– Spectral Geophysics Ltd (“Spectral”) to perform immediate down hole electromagnetic (“EM”) surveys on each borehole on completion.
Ø Time Domain Electromagnetic (“TDEM”) survey update:
– Six Target Areas surveyed by Spectral
– Drill targets identified in Target Areas A2, C1 and B1
– No targets in Target Areas A1 and D
– Ongoing data analysis of Target Area B2
– Two further TDEM surveys planned in Target Area B, with one targeting Target B1.
Ø Strategic partnership discussions with Equity Drilling Ltd (“Equity Drilling”):
– Equity Drilling is owned and run by highly experienced African drill operators
– Kavango is in discussions with Equity Drilling concerning the formation of a strategic drilling partnership
– Kavango is considering a number of options, including (but not limited to) the possible acquisition of two drill rigs and support vehicles to act as a dedicated team across the Company’s portfolio of projects
– Any strategic partnership will be subject to due diligence and will likely be structured to involve payments in cash and shares
– Further announcement to be made in due course.
Ø Placing:
– 35,272,727 New Ordinary Shares (the “Placing Shares”) have been placed by First Equity Limited (“First Equity”), on behalf of the Company with institutional and other investors (the “Placing”)
– The Placing has been conducted at a price of 5.5p
– A one-for-one warrant has been issued to all placing participants, exercisable at 8.5p per share for a period of two years (the “Warrants”)
– The Warrants are subject to an acceleration clause, whereby if the Company’s shares close above 17p for 5 trading days, the Company may write to warrant holders at any time providing 10 working days’ notice of accelerated exercise, with 10 working days thereafter for payment
– The Company has raised gross funds of £1.94million
– Certain of the Directors intend to subscribe for shares on the same terms as the Placing.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Exploration results this year, across all our projects, have consistently surpassed our expectations. This culminated in Friday’s two announcements concerning the identification of Target B1 in the KSZ and seven drill targets at Ditau.
We are especially encouraged by the results of the TDEM surveys in the KSZ. While the conductance of targets A2, C1 and B1 appears to suggest they fall within the range of massive sulphides, we take a high degree of comfort from the “negative” results of A1 and D1. The fact that the TDEM surveys have selectively identified EM conductors gives us confidence we are using the right remote sensing technology to define specific drill targets.
While we must remain measured in our response to these upbeat developments, we must also make sure we are prepared for one or more positive drill results.
Although Kavango is already well financed, our budget was built around a specific work programme. We had planned for a certain amount of drilling in 2021, as we pursued our objective of “proof of concept” in the KSZ. However, it became clear to the board in recent weeks that our projects require much more extensive campaigns.
As a result we have advanced our discussions with Equity Drilling about instigating much larger drill programmes, to respond to the rapid progress we are making in the field.
In anticipation of increasing our drill activity, we completed this weekend’s financing at a minimal discount and an excellent price. This reflects the strength of our position.
With our general overheads already budgeted for, Kavango will now deploy the new funds into pursuing our ambition of making one or more major mineral discoveries.”
Target B1
Designated Target B1 (“B1”), the conductive anomaly is 475m by 550m with a conductance of approximately 8,200Siemens. The decay constant is estimated to be in excess of 350ms.
Target Area B is roughly 12km from Target C1 (announced on 15 June 2021). Kavango believes Target Area B is in a separate, distinct geological setting to the A-C corridor.
The Company is in discussion with Equity Drilling & Mindea Exploration and Drilling Services (Pty) to extend the current drill contract to include drilling a 550m borehole into B1, to retrieve core from the bottom of the “Norilsk-style keel” of the intrusive body.
Spectral will undertake down-hole EM surveying on each of the drilled holes as soon as the drilling has been completed. The surveying will identify and measure conductors within a 300m radius of the probe as it is lowered down the hole.
TDEM Survey updated
Spectral has now completed eight TDEM surveys in the KSZ. This included:
– 3 TDEM surveys in Target Area A, including one follow up survey on Target A2
– 2 TDEM surveys in Target Area B, including one follow up survey on Target B1
– 2 TDEM surveys in Target Area C, including one follow up survey on Target C1
– 1 TDEM survey in Target Area D.
This resulted in the identification of 3 drill targets, designated A2, B1 and C1 (the “Drill Targets”). Kavango plans to drill these targets over the course of this summer.
No conductors were found by the TDEM surveys over areas A1 and D1.
Analysis of data gathered from area B2 is ongoing and the Company expects to release an announcement on this in the near future.
Spectral has deployed its team back to Target Area B to complete two follow up TDEM surveys.
Kavango and Spectral will begin discussions in the coming weeks about conducting more TDEM surveys elsewhere in the KSZ. This next phase of TDEM surveying is expected to commence later this year, once the Company has received results from analysis of drill cores obtained from the Drill Targets.
Discussions with Equity Drilling
Equity Drilling Limited is a company registered in Guernsey. The owners and operators of Equity Drilling are highly experienced drill operators in Africa.
Equity Drilling founded Mindea Exploration and Drilling Services (Pty) Ltd (“Mindea”), which is operated under the Botswana Citizen Economic Empowerment Policy. Mindea is the drill contractor, which Kavango has engaged to drill the Drill Targets.
Equity Drilling also established Africa’s first, internationally accredited Drilling School in Botswana, the Africa Mining and Drilling Institute (“AMDI”).
Having established a strong working relationship, Kavango and Equity Drilling are now in discussions concerning the establishment of a strategic partnership company (the “Strategic Partnership”) whose primary focus will be to complete extensive drilling operations across the Company’s portfolio of projects.
Details and terms of the Strategic Partnership are still under discussion, but Kavango will complete a period of due diligence prior to making any commitment. One proposal the Company is considering is the acquisition of two drill rigs, with support vehicles, to create a focussed drill team to complete extensive drilling across the Company’s portfolio of projects. Discussions are ongoing about this and if an agreement is reached Kavango expects to pay a combination of cash and shares.
It is anticipated that Equity Drilling will act as the exclusive operator of the Strategic Partnership, in whatever shape it eventually takes, should final terms be agreed.
Placing
The 35,272,727 New Ordinary Shares have been conditionally placed by First Equity Limited, on behalf of the Company with institutional and other investors, including high net worth and retail investors, to raise £1.94 million.
Each New Ordinary Share has, on a one-for-one basis, a warrant attached exercisable at 8.5p for a term of 24 months from the date of issue, which is subject to an acceleration clause whereby should the Company’s shares close above 17p for more than 5 trading days, the Company may at any time write to the warrant holders providing 10 working days’ notice of accelerated exercise, with 10 workings day thereafter for payment.
The Company is discussing with certain directors the possibility of their participating in a subscription, on the same terms as described above. If agreement is reached a further announcement will be made.
Broker Warrants
The Company has issued with 3,527,273 broker warrants (“Broker Warrants”), with the same terms as set out above for the Warrants issued as part of the Placing.
Admission and Total Voting Rights
Application will be made for the Placing Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”). It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00am on or around Monday 02 August 2021.
Following Admission, the total issued share capital of the Company will consist of 400,340,775 Ordinary Shares. Therefore, the total number of voting rights in the Company is 400,340,775 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company.
———————————————————————–
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 additional 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 information in this press release that relates to “geological and/or geophysical results” for the LVR Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc.
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
EM Super Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit –
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Norilsk Style: copper/nickel/PGE mineralisation associated with the intrusion into the upper parts of the Earth’s crust of mafic magma, which form magma chambers that sit below volcanic vents or fissures that extrude basaltic lava onto the surface (Hawaii is a possible modern equivalent). The Norilsk intrusions tend to have distinct morphologies, combining thin gabbro sills (wings) with deep keels (thought to be associated with feeder dykes) at the base.
Norilsk Model: a genetic geological model similar to that pertaining to the Norilsk/Talnakh deposits in Siberia. Traditionally, it was thought that, during emplacement, the magma incorporated sulphur rich country rock (e.g. coal measures) or evaporites into the melt, which allowed the molten magma to become sulphur saturated. The free sulphur would then combine, preferentially, with Cu/Ni/PGE metal ions to form metal sulphides, which, being heavy, tended to accumulate in traps or into the keel of the magma chamber. However, modern research suggests that the process might be more complex and may also involve changes of the chemical and physical properties of the magma during the introduction of new pulses of molten material from below. Such sudden changes may have caused rapid segregation of metal sulphides within and above the feeder dykes within the keel of the intrusion.
Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.
Kavango Resources #KAV – KSZ Hukuntsi TDEM conductor B1 identified
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the identification of an electro-magnetic (“EM”) anomaly in Target Area B in the Hukuntsi (northern) section of the Company’s Kalahari Suture Zone (“KSZ”) Project.
Designated Target B1 (“B1”), the conductive anomaly is 475m by 550m with a conductance of approximately 8,200Siemens. The decay constant is estimated to be in excess of 350ms.
Target Area B is roughly 12km from Target C1 (announced on 15 June 2021). Kavango believes Target Area B is in a separate, distinct geological setting to the A-C corridor.
The Company is in discussion with Equity Drilling & Mindea Exploration and Drilling Services (Pty) to extend the current drill contract to include drilling a 550m borehole into B1, to retrieve core from the bottom of the “Norilsk-style keel” that underneath it.
The Company has also engaged its strategic partner Spectral Geophysics to conduct two more Time Domain Electromagnetic (“TDEM”) surveys in Target Area B.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“B1 appears to be the best conductor we have identified so far. The 8,200Siemens reading is particularly encouraging. With a rig already mobilising in Hukuntsi, we plan to drill this target as soon as the two boreholes are complete in the A-C corridor.”
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.comand 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
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
EM Super Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit –
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Norilsk Style: copper/nickel/PGE mineralisation associated with the intrusion into the upper parts of the Earth’s crust of mafic magma, which form magma chambers that sit below volcanic vents or fissures that extrude basaltic lava onto the surface (Hawaii is a possible modern equivalent). The Norilsk intrusions tend to have distinct morphologies, combining thin gabbro sills (wings) with deep keels (thought to be associated with feeder dykes) at the base.
Norilsk Model: a genetic geological model similar to that pertaining to the Norilsk/Talnakh deposits in Siberia. Traditionally, it was thought that, during emplacement, the magma incorporated sulphur rich country rock (e.g. coal measures) or evaporites into the melt, which allowed the molten magma to become sulphur saturated. The free sulphur would then combine, preferentially, with Cu/Ni/PGE metal ions to form metal sulphides, which, being heavy, tended to accumulate in traps or into the keel of the magma chamber. However, modern research suggests that the process might be more complex and may also involve changes of the chemical and physical properties of the magma during the introduction of new pulses of molten material from below. Such sudden changes may have caused rapid segregation of metal sulphides within and above the feeder dykes within the keel of the intrusion.
Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.
Kavango Resources #KAV – Shareholder presentation on KSZ Drilling
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that Ben Turney will be presenting at Shares Magazine Investor Evening on KSZ Drilling on Wednesday 16 June.
Ben is scheduled to speak at 1920 and will present the Company’s recently announced drill plans in the northern (Hukuntsi) section of the Kalahari Suture Zone.
Ben will provide shareholders and investors with screenshots and maps of the latest geophysical models Kavango has developed, following successful completion of further Time Domain Electromagnetic surveys in the area.
To register for the event please visit the link below.
https://www.sharesmagazine.co.uk/events/event/shares-investor-evening–webinar-160621
The presentation will be recorded and a copy will be made available via the Company’s social media channels.
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 (Broker)
+44 1483 413500
Nick Emerson
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
Kavango Resources #KAV – KSZ TDEM surveys – presentation on Vox Markets
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, will participate in an investor webinar on Tuesday May 18th at 5.30pm on Vox Markets.
Ben Turney, Executive Director of Kavango, will present the Company’s latest results of exploration in the Kalahari Suture Zone (“KSZ”).
As Kavango seeks to unlock the KSZ’s significant potential to host large-scale metal sulphide deposits, the Company has deployed Time Domain Electromagnetic (“TDEM”) surveying technology to identify targets, for a drill campaign later this year.
Following the success of the first TDEM surveys, Kavango recently entered into a strategic partnership with Spectral Geophysics, a highly experienced and effective operator of TDEM powerful technology, to complete a more extensive programme.
Further results are expected soon and Ben will take the opportunity on May 18th to present and provide context to the models Kavango has developed, which are guiding its exploration. Ben will be available to answer any questions webinar attendees have about the methods Kavango is using in the KSZ, how the Company has interpreted the data and the steps it is taking to de-risk this project before commencing drilling.
Please register your interest and submit your questions at https://voxmarkets.brand.live/c/vox-markets-webinar-may-18th
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.comand 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 information in this press release that relates to “geological and/or geophysical results” for the LVR Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc.
Kavango Resources #KAV – KSZ TDEM Update and Warrant Exercise
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce an update on its Kalahari Suture Zone (“KSZ”) project, receipt of £59,500 in warrant exercises and completion of the strategic partnership with Spectral Geophysics (“Spectral”) (announced 20 April 2021).
KSZ Update
Further to the announcement on 20 April 2021, Spectral has completed a third Time Domain Electromagnetic (“TDEM”) survey in Target Area A (“Survey A3”). This survey was designed to corroborate the existence of the large-scale conductive anomaly previously identified. Spectral also deployed an upgraded configuration of its equipment, which has proved to be successful.
TDEM surveys can be used to identify super electromagnetic (“EM”) conductors at depth, within highly complex geological environments such as the KSZ. Spectral Geophysics is a highly experienced and effective operator of TDEM technology currently being employed on the project.
Data from Survey A3 has now been successfully processed and interpreted. The data further confirms the existence of the previously identified conductive anomaly and that it has a conductance of ~3000 Siemens. Kavango now estimates the anomaly’s properties are:
- 1km length, which is open along strike
- Extends between 250m to 700m below surface and is gently dipping
- Decay constant of approximately 340msec and conductance of approximately 3000 Siemens, readings which Kavango management considers are consistent with nickel sulphide deposits elsewhere in the world
- Located in the right geological setting, at the bottom of a “keel” in the gabbroic intrusion, according to the Company’s Magnetic 3D-Model (8 September 2020)
As the results come in from Kavango’s extensive TDEM surveying programme and are processed and interpreted, the Company expects to start planning a drilling programme. The exact timing and extent of such a programme remains to be determined, but it is currently considered likely that it will include drilling inclined holes of up to 450m through the conductive target at A2 that will aim to intercept the conductor at roughly 400m.
Kavango has prepared an explanatory video, which presents the geophysical model of the conductive target at A2, for shareholders to view on the Company’s website. The video is accessible via the link below:
https://cdn.kavangoresources.com/VNS-KAV_TDEM_conductor_Pt2_V03.mp4
On completion of Survey A3, Spectral immediately deployed its team and equipment to Target Area B1, which Kavango’s field exploration team had prepared in advance. This survey is now nearing completion and Kavango expects to receive data later this week, for processing, interpretation and review.
Spectral will then move straight onto Target Area B2, which the Company has begun preparing the site for.
Kavango anticipates the remaining TDEM surveys in this current phase of exploration will continue at this accelerated pace.
Completion of Spectral Geophysics Strategic Partnership
Following the success of the first TDEM surveys in the KSZ, Spectral and Kavango entered into a strategic partnership in April 2021, to leverage each other’s expertise to identify high-priority drill targets.
As part of this deal, Kavango agreed to issue Spectral with 3,000,000 ordinary shares of £0.001 at an issue price of 3p pence per share (the “Partnership Shares”). The Partnership Shares are subject to a 12-month lock-in and will be held in custody by the Company’s broker, First Equity. The Company allotted the Partnership Shares on 30 April 2021, subject only to their admission to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”).
Exercise of Warrants
Kavango announces it has received notices to exercise warrants over 5,950,000 new ordinary shares of £0.001 each in the Company (the “Warrant Shares”).
The Warrant Shares are being issued pursuant to the exercise of warrants granted and announced on 15 April 2020. Subscription monies of £ 59,500 have been received by Kavango in respect of these exercises.
Admission and Total Voting Rights
Application has been made for Admission of the Warrant Shares and Partnership Shares. It is expected that Admission will become effective and that dealings in the Warrant Shares and Partnership Shares will commence at 8.00am on or around 11 May 2021.
Following Admission, the total issued share capital of the Company will consist of 351,352,139 Ordinary Shares. Therefore, the total number of voting rights in the Company is 351,352,139 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company.
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
Michael Foster
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
Super EM Conductors: are bodies of highly conductive minerals such as metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, (originally) horizontal bodies of solidified gabbroic magma that intruded into the Earth’s crust while still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit –
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Kavango Resources #KAV – Strategic Partnership with Spectral Geophysics
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the signing of a strategic partnership with Spectral Geophysics Ltd (“Spectral”) (the “Strategic Partnership”).
Spectral is one of Southern Africa’s leading firms in the use of ground-based remote sensing technologies to identify high-speed electromagnetic (“EM”) conductors at depth. Spectral has specialist knowledge and expertise in mapping subsurface geology beneath Kalahari cover. This experience is particularly important to exploration of the Company’s Kalahari Suture Zone (“KSZ”) Project in Botswana.
Highlights
v Spectral has completed two Time Domain Electromagnetic (“TDEM”) surveys in the KSZ. The second of these, at Target A2, identified:
– A large conductive anomaly, which is approximately 1km in strike with a large decay constant (~340msec) that could indicate presence of metallic sulphides
– A second possible discrete conductor to the west of A2, which requires further surveying.
v Under the terms of the Strategic Partnership:
– Spectral will share with Kavango its technical knowledge to optimise future underground remote surveys of the KSZ
– Spectral will prioritise the assignment of its advanced surveying technologies to the KSZ for a period of 24 months
– Kavango will share with Spectral results of independent assessments on any data gathered from remote surveys
– Kavango’s field exploration team will provide additional support to facilitate more rapid deployment of remote sensing technologies to target areas.
v In return for securing priority access to Spectral’s technical expertise and advanced remote surveying technologies, Kavango has agreed to issue Spectral:
– 3,000,000 ordinary shares in the Company at 3p per share (the “Partnership Shares”). The Partnership Shares will be lodged with the Company’s broker and are subject to a 12-month lock-in.
– 3,000,000 warrants in the company exercisable at 4.25p per share with the following vesting conditions
I. 1,000,000 warrants vest on completion of the next 5 TDEM surveys in the KSZ
II. 1,000,000 warrants vest on completion of a further 5 TDEM surveys in the KSZ
III. 1,000,000 warrants vest on completion of a further 5 TDEM surveys in the KSZ
Michael Foster, Chief Executive Officer of Kavango Resources, commented:
“We are delighted to announce a Strategic Partnership with Spectral Geophysics and its founder Cas Lötter.
Cas is one of Africa’s principal experts in subsurface geological surveying. Under his leadership, Spectral is now among the Continent’s leading specialists in ground-based EM surveys, having worked on projects in 18 countries for many of the world’s largest mining firms.
In addition to this, Cas has personally interpreted over 100,000 line kilometers of helicopter EM data and was directly involved in the target identification that led to the T3 and A4 Dome copper discoveries in the Kalahari Copper Belt.
With Spectral’s assistance and experience, Kavango will now be able to deploy more sophisticated methods and remote sensing technologies into the Kalahari Suture Zone. Following the success of the first two TDEM surveys we completed at Hukuntsi, this is a major step forward for Kavango and significantly bolsters our exploration capabilities.”
Cas Lötter, founder of Spectral Geosciences, commented:
“I have been intrigued by the potential of the Kalahari Suture Zone for over 30 years. However, it has only been in recent years that technology has improved to the point to allow for effective surveying at depth, beneath the Kalahari cover.
I was happy to be invited to work on the KSZ Project last year. It is a technically-complex environment to work in, but my team and I have developed sophisticated methods to enable us to step up to this challenge. The fact that our data has stood up to rigorous external validation further strengthens my belief that our partnership with Kavango could yield substantial results.
Now that we have seen the results from our first TDEM surveys, I am even more encouraged by what we have already found. We have learned a lot from the first phase of surveys and applied these lessons to the next round of surveys, which are well underway.”
About Cas Lötter & Spectral
Cas Lötter had his first experience with mapping geology below the Kalahari beds in 1985 when he located the mafic/ultramafic contact of the northern limb of the Molopo Farms Complex, using aeromagnetic, ground magnetics and gravity. Since that time, he has been involved in exploration projects for minerals and groundwater below the Kalahari stretching from the northern Cape of South Africa to eastern Namibia and further north through western Zambia into the southern DRC and into Zimbabwe in the east. He was especially active in Botswana where he has been a resident since 1993, the year he established geophysical consulting and contracting company, Spectral Geophysics. Spectral serviced several multi-nationals and a plethora of Canadian, British and Australian juniors eg. Rio Tinto, BHP-Billiton, Anglo American, Phelps Dodge, Falconbridge, First Quantum etc. in the search for diamonds, gold, copper, nickel, lead-zinc, uranium and manganese. Spectral has also been involved in projects in South Africa, Namibia, Angola, DRC, Congo, Zimbabwe, Mozambique, Swaziland, Lesotho, Kenya, Tanzania, Uganda, Ivory Coast, Senegal, Ghana, Mali, Eritrea and CAR.
Cas Lötter, in his personal capacity, has also been involved extensively in consulting assignments in India (processed and interpreted 100,000+ line km of helicopter EM data) and Iran (training of local geophysicists in electromagnetic surveying and processing). In Africa, he was directly involved in projects which led to the discovery or mapping of a resource eg. Kalgold on the Kraaipan Belt in South Africa, Lumwana and Sentinel on the Zambian Copper Belt, Golden Ridge, North Mara and Geita in Tanzania. He was also closely involved with the geophysical mapping of the T3 deposit in the Kalahari Copper Belt and commissioned, planned, supervised, processed and interpreted the helicopter electromagnetic survey which led to the discovery of the A4 dome deposit near T3.
Spectral’s main areas of expertise are advanced processing and interpretation of airborne and ground electromagnetic data as well as 3D modelling of Induced Polarisation / Resistivity data. Spectral is currently concentrating on deep electromagnetic prospecting for metallic sulphides using the gold standard in transmitter and receiver technology available from Australia. Spectral has extensive experience with the application of TDEM and SQUID sensors in electromagnetic prospecting and have applied the technology successfully in Botswana, South Africa and Namibia over a period of six years.
Terms of the Strategic Partnership
Kavango and Spectral have entered into a Strategic Partnership, whereby Spectral will share with Kavango its technical knowledge to optimise future underground remote surveys in the KSZ.
Kavango has incentivised Spectral to prioritise physical surveys of the KSZ and to deploy its most powerful remote sensing technologies. The Strategic Partnership will involve Spectral making recommendations concerning the use of specific techniques and technologies to maximise the chances of success, identifying any large-scale conductors that may exist in the KSZ.
Kavango will share with Spectral results of any data analytical work it receives from third party geophysicists, employed to provide independent assessment of survey data. Kavango expects any third party analysis will help augment and calibrate future surveys conducted by Spectral in the KSZ.
In return for Spectral’s commitment to the Strategic Partnership, Kavango will issue Spectral 3,000,000 Partnership Shares, at an issue price of 3p per share. The Partnership Shares will be held with First Equity for a 12-month lock in period
In addition, Kavango will issue Spectral with warrants to subscribe for up to 3,000,0000 new ordinary shares, exercisable at 4.25p a share with a 4-year exercise period from the date of signing the strategic partnership agreement between Kavango and Spectral (the “Partnership Warrants”). The Partnership Warrants will vest in 3 tranches, set out in the table below:
|
Spectral Partnership Warrants Vesting Tranches |
||||
|
Tranche |
Exercise Price |
Number of Warrants |
Life of Warrants
|
Vesting Condition |
|
1 |
4.25p |
1,000,000 |
4 Years
|
Warrants vest on completion of FIRST 5 ground-based remote sensing surveys in the KSZ |
|
2 |
4.25p |
1,000,000 |
4 Years
|
Warrants vest on completion of SECOND 5 ground-based remote sensing surveys in the KSZ |
|
3 |
4.25p |
1,000,000 |
4 Years
|
Warrants vest on completion of THIRD 5 ground-based remote sensing surveys in the KSZ |
———————————————————————–
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 additional 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
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
High Speed EM Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit –
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Kavango Resources #KAV – KSZ Hukuntsi – TDEM conductor identified
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the identification of an electro-magnetic (EM) anomaly in Target Area A in the Hukuntsi (northern) section of the Company’s Kalahari Suture Zone (“KSZ”) Project.
The anomaly appears to be a large conductive body (the “Conductor”) that lies between 250 and 700m from surface and appears to sit within the lower parts of a gabbro “keel”, as predicted by the Company’s proprietary 3D-Underground Model of Hukuntsi announced on 8 September 2020. Kavango believes this is in a promising geological setting.
Highlights
v The Conductor was identified through the analysis of data from the second Time Domain Electro-Magnetic (“TDEM”) survey completed on Target Area A:
– The ground-based, fixed loop TDEM surveys have been deployed to search for super conductors within the deeper “keels” of the extensive gabbroic intrusions in the KSZ.
– The first two surveys (A1 & A2) were completed in close proximity to one another in Target Area A
– Spectral Geophysics Ltd (“Spectral”), who are conducting the surveys on behalf of the Company, concluded that the Conductor “is interpreted to be caused by a shallow dipping, discrete conductor at least 1km in strike with a large decay constant (~340msec) that could indicate the presence of metallic sulphides”
– The actual size of the causative source of the Conductor and its thickness will only be determined by drilling
– The Conductor is oriented on a plunging plane, with a minimum depth of 250m, and a maximum depth extension of 450m (that is to a depth of 700m below surface).
v Given the size and the nature of the EM signature, Kavango sought independent verification of the validity and accuracy of the TDEM data from three independent geophysical consultants, including a specialist plate modeller who is experienced in modelling highly conductive EM environments. These consultants confirmed:
– The TDEM surveys collected valid and accurate data readings
– The equipment used to collect the TDEM data, the procedures adopted, the processing techniques (software) and the interpretation of the final results are all valid for this type of survey.
– The plate model is accurate (plate modelling estimates the size, geometry and orientation of subsurface conductive bodies)
– The EM signature of the Conductor is notably distinct from the surrounding conductive environment
– TDEM surveys are the appropriate technology to identify conductive bodies in the KSZ.
v Using its proprietary 3D-Model of the underground geology at Hukuntsi, Kavango concludes that the Conductor is in the right geological setting for drilling (250m from surface to the projected “keel” of the gabbroic intrusion at 700m).
v Spectral is continuing TDEM surveys on Target Areas “B”,”C” and “D” at Hukuntsi.
Michael Foster, Chief Executive Officer of Kavango Resources, commented:
“The apparent identification of a large EM anomaly within the “keel” of a gabbroic intrusion in Target Area “A” is promising.
While we were hopeful of what the first TDEM surveys of the KSZ might uncover, we are encouraged to have identified a conductive body of this size, in this geological setting so early in the programme.
As a prudent step, we have sought expert independent verification of the TDEM data and techniques employed.
Initial analysis confirms that the work carried out by Spectral was thorough, the data and the position and conductivity of the Conductor are reliable. Further work is still needed, but I am pleased with the validation we have so far received.
I’d like to thank Spectral, the independent contractors and our in-house team for the excellent work they have completed on behalf of Kavango.
This is the first time TDEM surveys have been deployed in the KSZ. We are confident this technology holds the key to unlocking the project’s significant potential. TDEM surveying will continue at an accelerated pace on the remaining principal target areas so we can prioritise targets for detailed drill site locations.”
TDEM surveys at Hukuntsi
On 30 November 2020, Kavango announced it had identified four “Norilsk-style” target areas at Hukuntsi for further exploration. These target areas cover 182.5km2 and incorporate deep “keel” formations in the Karoo-age gabbros, with long axes. The four target areas include:
– Target Area A (8km x 9km)
– Target Area B (6km x 10km)
– Target Area C (4.5km x 5km)
– Target Area D (3.5km x 8km)
In December 2020, the Company commenced orientation work on the first two surveys on Target Area A (A1 & A2). The interpretation and modelling was completed in late February, with independent data verification sought over March and into April.
The Conductor at A2
The Conductor appears to lie at a minimum depth of 250m and maximum depth extension of 450m (that is to a depth of at least 700m below ground). Spectral concluded that the Conductor “is interpreted to be caused by a shallow dipping, discrete conductor at approximately 1km in strike with a large decay constant (~340msec) that could indicate the presence of metallic sulphides”. The actual size and thickness of the causative source at depth will only be determined by drilling
The EM decay constant (TAU) within the anomalous areas is calculated at approximately 340msec. These values are similar to nickel sulphide deposits discovered elsewhere in the world.
According to the Company’s 3D-model of the underground geology at Hukuntsi, the Conductor appears to lie at the base of a Karoo gabbro intrusive “keel”, which is the right geological setting for a potential mineral deposit. The Company is encouraged by this data.
To help further de-risk the Conductor, the Company sought independent expert verification of the data gathered from the TDEM surveys. This has confirmed the integrity of the methods used by Spectral, the quality of the data collected and the conclusions Spectral reached in its final report.
Next steps
The Conductor will be re-surveyed on two or three other survey lines from a new TDEM loop position to obtain further confirmation.
Meanwhile the TDEM surveying of Target Areas “B”, “C” and “D” will continue. Spectral will undertake either one or two TDEM surveys on each of these Target Areas.
The planned surveying of all four Target Areas should be completed before the end of June. On completion, any conductors identified will be followed up with additional, offset TDEM loops at higher resolutions. Offset loops will provide important information on the geometry and properties of any targets prior to subsequent exploration 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 additional 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
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari sediments, has not previously been explored using modern techniques.
The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
High Speed EM Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit –
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.