TIDMKAV
RNS Number : 2381V
Kavango Resources PLC
02 December 2019
PRESS RELEASE
2 December 2019
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
DRILLING ON THE KSZ IDENTIFIES MAGMA PLUMBING SYSTEM
Kavango Resources plc (LSE: KAV), the exploration group listed
on the Standard List segment of the main market of the London Stock
Exchange and targeting the discovery of world-class
copper-nickel-PGE deposits in SW Botswana, is pleased to announce
that the current drilling programme on the Kalahari Suture Zone
Drilling Project (KSZ) appears to have identified multiple magma
conduits, which would have supplied molten lava to the surface.
HIGHLIGHTS
-- Drilling on the final target of Kavango's current drilling
programme has intersected a 16m gabbroic sill at 120m from surface
on hole RIT08DH2.
-- The gabbro sill contains disseminated sulphides as in the
other intrusives intersected in this drilling programme. What is
significant, however, is that the sediments above and below the
sill show intensive alteration by heat. This alteration extends
several meters either side of the sill.
-- The extent of the heat alteration in the sediments is unusual
for a relatively thin gabbro and suggests that the sill represents
a formerly active conduit that would have allowed a constant flow
of magma over an extended period to the surface.
DISCUSSION and SIGNIFICANCE
-- Kavango's geological team believe that they have intersected
a small part of a very extensive magma plumbing system that lay
beneath multiple volcanic vents and fissures which extruded large
quantities of basaltic lava onto the surface about 180 million
years ago.
-- This is the type of plumbing system that hosts massive
sulphide orebodies at Voisey Bay in Canada, one of the world's
largest Ni/Cu/Co deposits.
-- Typically these complex plumbing systems are composed of
stacked (horizontal) sills connected to each other via (vertical)
dykes.
-- If the magma contained "free" sulphur (due partly to
contamination of the magma by the incorporation of coal), a
continuous flow of magma along the conduit over extended periods
may have allowed for the accumulation of metal suphides in certain
localities within the sill.
-- The application of downhole geophysical techniques should
locate accumulations of metal sulphides within the gabbro. This
will be undertaken as soon as the equipment becomes available.
Michael Foster, Chief Executive Officer of Kavango Resources,
commented:
"It is most encouraging that the current drilling programme may
have identified a magma plumbing system typical of those that host
some of the world's largest metal sulphide deposits. If it can be
established that the disseminated metal sulphides seen in the
gabbroic sills are a primary feature, then there is an excellent
possibility that economically viable metal sulphide deposits exist
within the KSZ. The Company will continue to keep the market
informed of all developments on the KSZ in the coming days."
For further information please contact:
Kavango Resources plc +44 20 3651 5705
Michael Foster
mfoster@kavangoresources.com
SI Capital Limited (Joint Broker) +44 1483 413500
Nick Emerson
Turner Pope Investments (Joint Broker) +44 20 3657 0050
Andy Thacker and Zoe Alexander
Note to Editors:
Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty)
Ltd, is the holder of 15 prospecting licences covering 9,231 km(2)
of ground, including 13 licences over most of the 450km long KSZ
magnetic anomaly in the southwest of the country along which
Kavango is exploring for Cu-Ni-PGE 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).
DEFINITIONS
-- 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".
-- 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 sills: Relatively thin, planar bodies of solidified
gabbroic magma that intruded into layers of sedimentary rock whilst
still molten.
-- High level sills: Are sills that are emplaced in the upper
levels of the earth's crust, close to the surface.
-- 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.
-- Primary sulphides: Are sulphide complexes (or crystals) that
form as the magma cools and are composed of elements that are
present at the time of initial crystallization. Secondary sulphides
may form after the magma has solidified either by the introduction
of new elements into the rock or by re-mobilising elements already
present through changes in pressure, heat etc.
****************************ENDS**************************************
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END
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