Home » Posts tagged 'target'
Tag Archives: target
#POW Power Metal Resources – Ditau Project – Exploration Programme Expansion
Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces an update from the Ditau Camp Project (“Ditau” or the “Project”) located in southwest Botswana which is prospective for carbonatite hosted rare-earth element (“REE”) and base-metal mineralisation. Ditau is held within a 50/50 Joint Venture (“Kanye Resources”) with London-listed Kavango Resources plc (LSE:KAV) (“Kavango”). Kavango is the operator.
Following completion of drillhole DITDD003, which was drilled into the i10 target, Power Metal in conjunction with Kavango have decided to expand the ongoing exploration programme. Initial observations in respect of DITDD03 were announced on 29 April 2022 and can be viewed at the follow link:
The expanded exploration programme will include 16.1 line-km of Audio-Magnetotelluric (“AMT”) geophysics surveys over various target areas.
DITDD003 is the first of six planned exploration drillholes to be completed at the Ditau Project as part of the ongoing drilling campaign. Based on results achieved thus far, Kanye Resources has confidence in the utility of its new AMT inversion modelling introduced this year and believes the expanded geophysical surveys will enable it to further optimise the location of planned drill collar locations.
Kanye Resources also announces the commencement of drilling of drillhole DITDD004 which is also targeting the i10 Target geophysical anomaly.
Paul Johnson, Chief Executive Officer of Power Metal Resources, commented:
“It’s great to see the exploration programme at Ditau moving forward at pace with the second drill hole now underway. The Ditau Project represents a significant exploration opportunity, with a district-scale land holding believed to be prospective for rare-earth element mineralisation. This exploration comes at a critical time when this commodity group is in great demand, particularly from stable mining jurisdictions.
The work undertaken thus far, and the building knowledge we are collating, is highly valuable and I look forward to providing further updates to the market as additional developments occur.”
Operational Summary
– Commencement of DITDD004, the second hole to target the i10 Target
– The i10 Target is a discrete circular geophysical anomaly which is roughly 2.2km in diameter.
– Kanye modelled the i10 Target using inversions of Aeromagnetic (“AEM”) combined with its interpretation of limited existing AMT data.
– Kalahari sediment thickness was determined to be 105m based on the first hole drilled (DITDD003) which is consistent with the estimated thickness based on the AMT modelling completed.
– An additional 16.1 line-km of AMT geophysical surveying is now planned with coverage over multiple drill target areas including:
– 1 line-km over the i10 Target;
– 5.5 line-km over the i8 Target; and
– 9.6 line-km over the i1 Target.
The plan is to collect high-frequency AMT profiles over near-surface potential carbonatite targets with the ultimate goal of better resolving the location of breccia zones and intrusive sills/dykes intersected in drillhole DITDD003. AMT surveys can aid geophysicists and geologists in mapping subsurface geological structures and layers; further identifying potential areas for mineralisation which allows for the refinement of drill targeting.
To date 12 targets from geophysics have been identified at the Ditau Project (i1 through i12) which Kanye believes could be carbonatites and/or intrusive complexes that may host carbonatites pipes. Carbonatites account for the primary source of mined rare-earth elements; and REEs are vital component materials in many high-tech industries.
As part of the ongoing exploration programme, Kanye is planning to drill test three geophysical targets (i10, i1 and i8).
COMPETENT PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
|
Power Metal Resources plc |
|
|
Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
|
|
|
|
SP Angel Corporate Finance (Nomad and Joint Broker) |
|
|
Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
|
|
|
|
SI Capital Limited (Joint Broker) |
|
|
Nick Emerson |
+44 (0) 1483 413 500 |
|
|
|
|
First Equity Limited (Joint Broker) |
|
|
David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
#KAV Kavango Resources – Ditau exploration programme expansion
Following completion of hole DITDD003, Kavango Resources plc (LSE:KAV) has expanded the exploration programme at its Ditau project in south west Botswana. Kavango is exploring for rare earth elements (“REEs”) and base metal mineralisation at Ditau. Hole DITDD003 was drilled into the i10 Target.
The expanded exploration programme will include an additional 16.1km of new Audio-Magnetotelluric (“AMT”) surveys over the drill target areas. DITDD003 is the first of 6 planned exploration holes to be drilled at Ditau in the current diamond core drill campaign. Based on results so far, the Company has confidence in the utility of its new AMT inversion modelling, introduced this year, and believes the expanded programme will enable it to optimise the location of drill collar positions via the elucidation of the bedrock geology.
In addition, Kavango announces commencement of drilling of Hole DITDD004.
Further, the Company confirms that the drill contractor, Mindea Exploration & Drilling Services (Pty), has agreed to accept payment for a large proportion (approximately 50%) of the Ditau drilling costs in Kavango stock, at an issue price of 4.53p per share.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“We designed the current drill programme at Ditau to be flexible, and are using results as they come in. We are doing this in combination with geophysical data, to adjust the programme dynamically. Kavango’s use of AMT technology and state of the art inversions for carbonatite exploration is innovative and we hope it will maximise our opportunity for success .
It’s still early days in the programme, but the data we’ve already gathered are intriguing and continue to build up our understanding of this new and exciting area.”
Operational Summary
– Commencement of DITDD004, the second hole to target the i10 Target
– Target i10 is a discrete circular anomaly, 2.2km in diameter
– Shallow depth, with Kalahari sediment and sand cover modelled by AMT at 120m thickness, with the target zone directly underneath
– Kavango modelled Target i10 using inversions of Aeromagnetic data (“AEM”) combined with its interpretation of limited existing AMT data
– Kalahari sediments in the first hole, DITDD003, were intercepted at 105m, in line with the AMT modelling
– The i10 target has been independently verified to conform to an idealised model for carbonatite intrusives, based on its aeromagnetic signatures.
– Carbonatites are the world’s primary source of REEs and other critical commodities, which are crucial to high tech industries
– 16.1km expansion of AMT survey coverage over drill target areas includes:
– 1km over Target i10
– 5.5km over Target i8
– 9.6km over Target i1
– High frequency data to model near-surface carbonatite target areas & attempt to resolve origin of breccia zones and sills/dykes intersected in DITDD003
– Low frequency data to model possible deep carbonatite intrusions and structures
– Equity component of Ditau drill contract
– Kavango confirms that Mindea Exploration & Drilling Services (Pty) has agreed to accept payment for a large proportion (approximately 50%) of drilling costs, at an issue price of 4.53p per share
– Kavango has paid the cash component of its share of the drill contract upfront
The expanded exploration programme at Ditau will involve an additional 16.1km of of AMT survey coverage over drill target areas. AMT surveys can help geophysicists and geologists to map subsurface lithologies, structures, alteration and intrusive phases, to identify potential areas for mineralisation and to refine drill targeting.
Kavango has identified 12 targets from geophysics at Ditau (targets i1 through i12), which the Company believes could be carbonatites and/or intrusive complexes that may host carbonatite pipes. Carbonatite complexes are the world’s primary source of REEs and other strategic/industrial commodities. REEs are strategically vital commodities in high-tech industries. 9 of the 12 targets are particularly well defined.
Kavango is currently testing 3 of the Ditau targets (i10, i1 and i8) with diamond core drilling.
The POW/KAV Joint Venture at Ditau
Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE:POW) (“Power Metal”). Kavango is the operator. Mindea is conducting the drilling.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
+46 7697 406 06
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson