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Kavango Resources #KAV – Ditau: Large-scale Lode Gold Exploration Potential
A review of the mineral exploration potential of the Ditau Project, Botswana, has been carried out for Kavango by Dr. Hamid Mumin, Professor and Former Chair of the Department of Geology at Brandon University, Manitoba, Canada (the “Review”). The Review has identified a possible high potential Banded Iron Formation hosted Lode Gold model at the Ditau Project.
REPORT HIGHLIGHTS
· Kavango previously recognised a 100m thick “Zone of Interest” from 293m to 393m, in diamond drillhole DITDD004 at Ditau. This included anomalous gold values (announced >>> 14 October 2022).
· Dr. Mumin assessed drill logs, core photography, and assays from DITDD004.
· Dr. Mumin has identified the likely presence of a large alteration system within a very thick Banded Iron Formation (“BIF”) that he considers exhibits excellent gold potential.
Figure 1 – Example of highly altered & structurally deformed Banded Iron Formation at 306m depth in Hole DITDD004, indicative of a possible Lode Gold System
· Dr. Mumin concludes “this is a new and very exciting opportunity for Kavango”.
o He explains “The reason iron formations are so important in the formation of world-class lode gold deposits is that the presence of abundant iron forms a type of chemical trap for gold.”
· The BIF intersected by DITDD004 is very thick (>100m) and open at depth.
o The intersecting structure, which is the source of fracturing, brecciation, sulphidisation, gold, silver, copper, and arsenic, appears also to be large.
o These factors combined could, in Dr. Mumin’s opinion, have led to a significant gold mineralising event.
· Dr. Mumin adds that “due to the overall robustness of the current discovery, the chances of finding economic grades in the Ditau discovery area is considered very good.”
Brett Grist and Jeremy S. Brett, Executive Directors of Kavango, stated,
“Dr. Mumin’s report represents a significant potential breakthrough for Kavango on the Ditau project. We didn’t find carbonatites as we had intended, but we are certainly delighted with the potential for a large Banded Iron Formation hosted Lode Gold system. Such systems can be capable of hosting a multimillion-ounce gold deposit.
Encouragingly, the BIF we encountered in Hole DITDD004 ran from 293m to end of hole at 393m. This is a very wide intersection that is open at depth. This suggests potential for a possible large-scale Lode Gold system.
We look forward to verifying this ore deposit model with Dr. Mumin on the Ditau project, via the prudently recommended detailed drill core re-logging, petrology and geochemistry.”
KEY FINDINGS OF DR. MUMIN’s REPORT
Dr. Mumin has identified the probable presence of a large alteration system within a very thick Banded Iron Formation (“BIF”), that he considers exhibits excellent gold potential. He has indicated that his interpretation is contingent on his direct examination of the drill core, so far having only been able to review drill core photos, logging and available assays. He recommends that the BIF hosted Lode Gold deposit model needs to be investigated very seriously, subject to his review of physical drill cores.
Figure 2 – Strong response from magnetic pencil used over the 100m thick BIF encountered in DITDD004.
In summary, the main conclusions of Dr Mumin’s report are:
· Examination of the drill logs, core photography, and assays from diamond drillhole DITDD004 at Ditau leads to interpretation that this hole has intersected a BIF hosted Lode Gold System. Dr. Mumin suggests that this presents a new and very exciting opportunity for Kavango.
· The BIF is very thick (>100m) and open at depth. The hole was stopped in brecciated BIF. The intersecting structure, which is the source of fracturing, brecciation, sulphidisation, gold, silver, copper, and arsenic, appears to also be large. Both the BIF and structures extend beyond the length of the current drill hole, as the hole was stopped in disrupted BIF. These factors combined could, in Dr Mumin’s opinion, have led to a significant gold mineralising event.
Figure 3 – DITDD004 stopped in disrupted BIF, which remain open at EOH beyond 390m. This opens the possibility for a significant gold mineralising event.
· He states that “due to the overall robustness of the current discovery, the chances of finding economic grades in the Ditau discovery area are considered excellent.”
· He comments that “the overall thickness of the BIF, the extent of structural disruption, which continues beyond the BIF, and degree of alteration plus sulphidation are all very significant. Taken into consideration along with the highly anomalous gold, silver, copper and arsenic values, these rocks are as close as is possible to definitively indicating that this is part of a Banded Iron formation (BIF) hosted Lode Gold system.”
Figure 4 – Further example of alteration and structural deformation observed throughout the 100m “Zone of Interest” from 293m to 393m EOH.
· The anomalous mineralisation seen at Ditau he suggests could be analogous with the Tiriganiaq, Normeg and Wesmeg deposits in Canada, thus giving an indication of scale potential.
· Dr. Mumin comments that this is excellent news for Kavango and opens up the potential at Ditau for Kavango to other ore deposit types in the district that were not previously considered.
NEXT STEPS
· Drill core samples and thin sections from work previously carried out at Ditau have been couriered to Dr. Mumin, in order for him to verify his proposed exploration model.
· In addition to this, and under the direction of Dr. Mumin, around 200 additional assays are being undertaken, focussed on the gold- and silver-bearing intervals, using non-destructive neutron activation analysis (“INAA”).
· Also, up to 24 samples are being sent from Botswana to Canada for additional petrology work, to complement those already completed by Petrolab in 2022.
· Kavango’s COO, Brett Grist, has significant gold exploration experience gained in Australia, Mali, Ghana, and DRC, and is supervising additional drill core sampling and logging in light of the new model.
· Kavango has applied for additional licence areas adjacent to the Ditau property, to secure ground that could also be relevant to this new ore deposit model.
Background on Hamid Mumin Ph.D., P.Eng., P.Geo., FGC:
Dr. Mumin graduated from Geo-Engineering, specialising in mineral exploration, and then completed an M.A.Sc. in Economic Geology, both at the University of Toronto. He earned his Doctorate degree and Post-Doctoral Fellowship at the University of Western Ontario, examining gold deposits along the Ashanti Gold Belt, Ghana, and conducting studies on the origin and distribution of gold in lode deposits at Carlin, Ashanti and in laboratory synthesis.
He worked as a mine, exploration and research geologist for Noranda and was the Chief Geologist and Site Manager during the exploration and feasibility stages of the Bogosu Gold mine, Ashanti Gold Belt, Ghana.
Dr. Mumin joined Brandon University in 1995 and teaches Mineral Deposits, Exploration and Mining Geology, Mineralogy, Geochemistry, Tectonics and Field Geology. He consults to industry and has managed exploration projects in the Northwest Territories, Ontario, Manitoba, British Columbia and in Peru. His principal interests remain exploration and sustainable development, and the geology, mineralogy and origin of mineral deposits. He is a Professional Engineer, Past President for Geoscientists Canada and a member of several Canadian and International Professional Societies. He is extensively published on Gold and IOCG ore deposits.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (“UK MAR”). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Kavango Resources plc
Ben Turney
bturney@kavangoresources.com
First Equity (Broker)
+44 207 374 2212
Jason Robertson
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Hamid Mumin Ph.D., P.Eng., P.Geo.. Dr Mumin 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 under the Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Kavango Resources #KAV – KCB – CSAMT Kronos calibration & drill expansion
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to announce the Company has interpreted inversion results from the Controlled-Source Audio Magnetotelluric (“CSAMT”) Line 4A survey (“Line 4A”), which extended over Sandfire Resources’ (ASX:SFR) Kronos copper target zone (“Kronos”).
Kavango successfully identified the D’Kar/Ngwako Pan contact at Kronos from surface using CSAMT.
By using a known copper occurrence in the vicinity of PL082/2018, Kavango has developed an important control in its calibration of its CSAMT technology in the KCB. Subsequent interpretation of the Line 4A CSAMT data has encouraged the Company’s technical team to expand the current drill programme beyond the1,250m originally planned.
Further updates on progress and upgraded targeting will be made in the New Year.
Highlights
· Line 4A CSAMT results overview
§ Kronos occurrence identified clearly as sedimentary beds that dip shallowly to the northwest across the PL082/2018 licence border
§ Key D’Kar/Ngwako Pan formational contact pinpointed <200m from surface at Kronos
§ The key D’Kar/Ngwako Pan contact can be traced onto Kavango’s licence, where is follows a syncline and dips back towards surface near the northwest edge of the licence.
§ Kavango is confident similar results can be replicated across the KCB
§ Results reviewed by an independent third party with regional KCB geology experience
§ Results shared with Sandfire Resources and positively received
· Drilling programme update
§ Drill programme to be extended, final meterage to be confirmed
§ Drill programme to continue to Christmas break and recommence in New Year
§ Cores and rock chip samples currently being logged and interpreted to assess potential vectors indicating the proximity of a potential mineralising system
§ Kavango to use newly acquired CSAMT and Airborne Electromagnetic (“AEM”) data to refine next phase of drill targets
Jeremy S. Brett, Senior Geophysical Consultant to Kavango Resources, commented:
” The Line 4A CSAMT results represent a technical breakthrough for Kavango. The successful imaging of the D’Kar/Ngwako Pan contact at the Kronos occurrence should allow us to develop CSAMT as a powerful exploration tool in our exploration for copper/silver mineralisation in the Kalahari Copper Belt.
CSAMT appears to identify the contact between the low resistivity D’Kar formation rocks and the substantially more resistive Ngwako Pan formation. When combined with AEM, which is routinely deployed in the KCB, there appears to be tremendous potential that these are very complementary electromagnetic systems. We now believe that AEM conductors within the D’Kar can be distinguished from the highly desired conductors at the Ngwako Pan contact. Our goal is to test this theory with drilling.
If proved to be successful, Kavango’s CSAMT method could save a lot of drilling metres and allow for the evaluation of the fold structures within the KCB in section, thereby determining the depth to the critical Ngwako Pan contact
Based on the technical success of the combined CSAMT and AEM results so far on PL082 and our ongoing interpretation of what we have already seen in drilling, Kavango has decided to extend the current drill programme into the New Year to continue to refine the application of this new method. This new tool will continue to develop. ”
Line 4A CSAMT detailed results
Line 4A was extended beyond the boundary of PL082/2018 to the southeast and onto Sandfire ground that hosts the Kronos occurrence, with the permission of Sandfire Resources (ASX:SFR). As Kronos is known from historical drilling to lie at the D’Kar/Ngwako contact zone, Kavango’s objective was to use the target zone as a known geology calibration point for the CSAMT to confirm the D’Kar / Ngwako Pan contact signature on PL082/2018.
Data from Line 4A highlighted a very distinct, shallowly to moderately dipping geological folded zone within PL082/2018 known as a “syncline”, defined as folded sediments dipping southeast and northwest towards a central axis. Steeply dipping brittle faults cross this syncline structure.
Kavango has now received inversions for CSAMT data acquired over a total of 4 lines on PL082/2018, each showing this same syncline fold structure.
Kronos is defined clearly on Line 4A as sedimentary beds that dip shallowly to the northeast across the Kavango licence boundary, continue across PL082 as deep as 650m, then dip back up towards the surface on the Northwest limb of the identified syncline.
Kavango interpreted the inversion as a signature for the presence of the crucial D’Kar/Ngwako Pan formational contact from the Kronos target zone to the northwest edge of PL082/2018. This formational contact is the primary control for economic copper/silver deposits across the KCB. Kavango is currently considering a new drill hole to target this specific horizon, as it could represent a significant strain breccia zone that may have acted as a conduit for fluid alteration.
Figure 1: Line 4 CSAMT inversion, viewed northeast, showing interpreted continuation of shallowly northwest dipping sedimentary beds, hosting Sandfire’s Kronos occurrence, that propagate onto Kavango’s PL082 licence in the KCB. There is clear resolution of a syncline with significant cross faults that could act as fluid conduits. The sediments dip back towards surface on the northwest ends of the syncline, on Kavango’s licence.
The inversions from Line 4A have greatly exceeded Kavango’s expectations. They provide verification of CSAMT surveys as an exploration tool in the KCB, showing that critical D’Kar -Ngwako Pan contact should be resolvable on the Company’s licences.
Another key observation from Line 4A was of prominent brittle structures crossing the folded sediments of the synform on PL082, originating from several kilometres in depth and propagating to the near surface. These have been interpreted as probable conduits for hydrothermal fluids and alternation that could potentially lead to mineralisation at the Ngwako Pan contact.
Next steps
The northwest edge of the syncline on PL082/2018, as elucidated by Line 4A, has been initially tested with Hole KCBRD005, which was originally sited on the basis of surface geochemical soil anomalies.
The CSAMT results from Line 4A suggest that the Company is targeting a priority structure, in line with the Company’s existing drill strategy for PL082/2018 (announced >>> 20 October 2022). A probable folded and brecciated zone was encountered in Hole KCBRD005, at the c.350m depth indicated by the interpretation of the Line 6A CSAMT inversion. Kavango has therefore engaged a KCB experienced local geological contractor to re-log and analyse cores and rock chip samples taken from the first phase of drilling.
Kavango’s aim with the relogging is to confirm the presence of physical and geochemical exploration vectors that could indicate the proximity of a potential mineralising system to the recent drilling. The Company believes this work will assist it in deciding its next drill target location.
The Company’s KCB drill programme will pause shortly for the Christmas holiday and continue in the New Year on a new exploration hole.
Should core relogging confirm the Company’s current understanding of what it has encountered in Hole KCBRD005, it is likely the next exploration hole will be targeted on the basis of (i) proving that the inverted CSAMT data is effective in identifying the D’Kar/Ngwako Pan contact on the northwest limb of the syncline, (ii) verifying interpreted fault structures, and (iii) determining if these targets are altered and mineralized.
Kavango’s technical team will continue to work on processing and interpreting previously and newly acquired CSAMT and AEM data across its portfolio of KCB prospecting licences to assist with improved target resolution.
Kavango will publish full drill results at the end of the campaign, once all data has been processed.
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
+44 207 374 2212
Jason Robertson
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’.
The technical information contained in this announcement pertaining to geophysics have been read and approved by Mr. Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical Consultant, Jeremy S. Brett International Consulting Ltd. in Toronto, Canada. Mr. Brett is a member of the Professional Geoscientists of Ontario, the Prospectors and Developers Association of Canada, the Canadian Exploration Geophysical Society, and the Society of Economic Geologists. Mr. Brett has sufficient experience that is relevant to geophysics applied to the styles of mineralization and types of deposits under consideration to act as a Qualified Person as defined under the Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects.
NOTES TO EDITORS
KAVANGO’S INTERESTS IN THE KALAHARI COPPER BELT
Kavango’s exploration licences in the KCB include:
Kanye Resources
100% working interest (in 10 prospecting licences, which cover 4,256km2.
The LVR Project / Shongwe Resources
A 90% interest in prospecting licences PL082/2018 & PL 083/2018, held in a Joint Venture, Shongwe Resources, with LVR GeoExplorers (Pty) Ltd (“LVR”), which cover 809km2.
THE KCB PROJECT GEOLOGICAL SETTING
Kavango’s KCB Project areas include lengthy redox boundaries, close to surface, that represent excellent exploration targets.
The redox boundaries were formed several hundred million years ago in active sedimentary basins flooded by shallow seas. Organic matter accumulating on the sea floor created anoxic conditions, which formed a chemical barrier to metal ions rising upwards through the sediments as the basin subsided. The change in chemistry caused the precipitation of metal species (carbonates, sulphides etc.) including copper and silver on or just below the redox boundary.
Subsequent tectonic activity folded the sedimentary layers, which was often accompanied by the concentration of metals into the fold hinges and shear zones. Fold hinges pointing upwards are known as anticlines, while the downward pointing hinges are called synclines.
Several large copper/silver ore deposits have been discovered on the KCB in association with anticlines in areas now held under licence by Sandfire Resources (ASX:SFR) and Cupric Canyon (a privately owned mining development company). These deposits are relatively close to surface and many are amenable to open pit mining operations.
Accumulations of metals can be traced along the strike of redox boundaries (sometimes for many kilometres) because they often contain iron and have a higher magnetic signature than the surrounding rock. These have recently been successfully mapped by Kavango’s exploration teams.
Kavango Resources #KAV – Operations Update
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to provide an operational update.
Highlights
Ø Recruitment of new senior commercial and exploration personnel
– Tiyapo (Tipps) Ngwisanyi is the former and founding CEO of the Government owned Botswana Geoscience Institute. Tipps has joined the Company as Managing Director of Kavango Minerals (Pty) Ltd
– John Lauderdale is a Chartered Geologist and seasoned exploration professional, who has run large-scale exploration programmes across Africa. John has joined Kavango as Senior Consulting Geologist
– Jeremy S. Brett is an internationally recognised Professional Geoscientist who has worked previously in the Kalahari Suture Zone (“KSZ”). Jeremy is now working with Kavango as a Senior Consulting Geophysicist.
Ø Updated geophysical model of Target Area B
– Target Area B covers the “Great Red Spot” magnetic anomaly, which has been subject to previous exploration
– Historic exploration of the Great Red Spot was limited by the technology available at the time
– The Company now believes the primary source of the Great Red Spot’s magnetic anomaly is towards its northern edge
– This appears to be coincidental with Target B1 (announced 2 July 2021). Planned drilling to test this assessment.
– Target B1 is a 475m by 550m conductive anomaly, with a conductance reading of 8,200 Siemens and a decay constant estimated to be in excess of 350ms.
– Jeremy Brett and Kavango CEO Ben Turney have given a short video presentation about the updated geophysical model of Target Area B, which is available through the following link – https://youtu.be/0yQx_vLD8_Y
Ø Drilling update
– Downhole gyroscopic survey complete. TA2DD002 successfully drilled to within 1 degree of original target
– Drilling recommenced at TA2DD002, with target depth of 1,000m expected overnight on Wednesday 22 September
– On completion of operations in Target Area A, the rig will be mobilised to Target Area B
– Kavango will then drill one geological hole into the Great Red Spot and one borehole to intersect the conductor of Target B1
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Our vision is to build a world-class minerals exploration firm in Botswana. These senior appointments are a significant step on our way to achieving this vision .
I am delighted to welcome Tipps, John and Jeremy on board. Each brings valuable skills, expertise and experience to Kavango. These senior appointments are the culmination of months of hard work and reflect the significant progress we have made as a business over the course of 2021.
We still have a lot to do to make our first discovery, but it feels like the pieces are falling into place.”
Recruitment of senior team members
Over recent months, Kavango has made the following appointments:
– Tiyapo (Tipps) Ngwisanyi (Managing Director, Kavango Minerals (Pty) Ltd))
Tipps is a geoscientist, who began his career at the Botswana Department of Geological Survey. In 2010 Tipps became Director of the Geological Survey and was then appointed as founding CEO of the Botswana Geoscience Institute in 2015, a position he held until he joined Kavango at the start of August.
As Managing Director of Kavango Minerals (Pty) Ltd, the Company’s local operating subsidiary in Botswana, Tipps is responsible for in-country commercial management and liaisons with all stakeholders, from the Department of Mines to local farmers and community representatives.
– John Lauderdale (Group Consulting Geologist)
John is a Chartered Geologist and seasoned exploration professional, who has been responsible for annual budgets of up to $80million and run teams of <350 personnel. During his career John has successfully worked on projects throughout Africa, from Morocco to South Africa.
Over the last three months John has been helping Kavango implement a comprehensive overhaul of the Company’s in-country operations. John works full time for Kavango and reports directly to the board of directors.
– Jeremy S. Brett (Senior Consulting Geophysicist)
Jeremy is an experienced geoscientist, with a strong geophysical, geological and project management background. Over the last 27 years Jeremy has designed, supervised, quality assured and interpreted geophysical and geological exploration programmes across many base and precious metal projects around the world.
Jeremy has specific relevant experience in exploring for Nickel-Copper-PGEs mafic/ultramafic complexes, having previously worked on the Kalahari Suture Zone for Canadian firms in the late 1990s and early 2000s. Jeremy was responsible for the siting of Hole GRS1, which targeted the centre of the “Great Red Spot” and was drilled to a depth of 934m in 2002.
Jeremy published a paper on the KSZ in the Journal of African Earth Sciences in 2002, titled “Geophysical exploration of the Kalahari Suture Zone”. He has been assisting Kavango since March this year and is now conducting a review of the Company’s geophysical strategy.
Geophysical update on Target Area B
Once current drilling operations are complete at Target Area A in the KSZ, Mindea Exploration and Drilling Services (Pty) (“Mindea”) will immediately mobilise the rig to Target Area B to commence drilling there.
Target Area B is in a distinct geological setting to Target Area A. It covers an area that is known as the “Great Red Spot”, thanks to its physical appearance on magnetic maps. The Great Red Spot is a previously identified large-scale magnetic anomaly that has been subject to limited historic exploration.
In 2002 a Canadian junior exploration company, Opawica Exploration Inc (“Opawica”), drilled Hole GRS-1 into the centre of the Great Red Spot. GRS-1 was drilled to a depth of 934m, encountering 17m of gabbroic rocks from 917m. However, the Company believes that limitations in available geophysical technology meant that accurate profiling of the Great Red Spot was not possible at that time.
Thanks to significant advances in geophysical technology and analytical software over the last two decades, Kavango believes it has now been able to create a more accurate geophysical model of the Great Red Spot (the “New GRS Model”). The New GRS Model combines historic data with data gathered by the Company in its exploration of the KSZ.
The New GRS Model estimates that the primary source of the magnetic anomaly of the Great Red Spot is positioned much closer to its northern boundary than previously recognised. Kavango believes this magnetic anomaly could be associated with a combination of Karoo and/or Proterozoic intrusions.
According to Kavango’s analysis, Target B1 appears to be coincidental with the edge of the magnetic anomaly. The Company will seek to confirm this interpretation through drilling.
Kavango’s Consulting Geophysicist Jeremy Brett and CEO Ben Turney have given a video interview to Alan Green, CEO of Brand Communications, to provide greater context about the Company’s modelling of Target Area B.
The link to this presentation can be viewed here:
Drilling update Hole TA2DD02
Drilling at Hole TA2DD002 was temporarily halted on Tuesday 21 September at 950m to allow for the downhole gyroscopic survey. A gyroscopic survey is used to measure the angle of a borehole. This survey was successfully completed and confirms Hole TA2DD002 has been drilled to within 1 degree of the original objective. Given challenging drilling conditions closer to surface and the depth Hole TA2DD002 has been drilled to, the Company regards this as a notable technical success by Mindea and Equity Drilling Ltd.
Drilling has subsequently resumed and is expected to reach the final target depth of 1,000m overnight on Wednesday 22 September.
Kavango has used a TLB Loader to prepare a 20km roadway from Target Area A to Target Area B, so that the drill rig and accompanying equipment can be transported quickly and safely.
Kavango has also prepared drills pads and now plans to drill two boreholes:
– First, the Company plans to drill a geological hole to a depth of up to 1,000m, targeting what it believes to be the shallowest point of the magnetic high of the Great Red Spot. Kavango expects to encounter Karoo and Proterozoic gabbros in this hole.
– Second, the Company plans to drill a hole to intersect Target B1 to an estimated depth of up to 600m. Target B1 is a 475m by 550m conductive anomaly, with a conductance reading of 8,200 Siemens and a decay constant estimated to be in excess of 350ms. Kavango’s geophysical model estimates that Target B1 is positioned at the northern edge of the Great Red Spot.
The primary objective of both boreholes is to extract core samples for full sweep rock analysis.
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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 KSZ 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.