Kavango Resources PLC Kalahari Suture Zone (KSZ) - drilling update (1921M)
17 September 2021 - 11:14PM
UK Regulatory
TIDMKAV
RNS Number : 1921M
Kavango Resources PLC
17 September 2021
PRESS RELEASE
17 September 2021
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
KALAHARI SUTURE ZONE ("KSZ") - drilling update
Kavango Resources plc (LSE:KAV), the exploration company
targeting the discovery of world-class mineral deposits in
Botswana, is pleased to announce that the Company has requested
Mindea Exploration and Drilling Services (Pty) to extend Hole
TA2DD002 to 1,000m depth, which is the technical limit of the drill
rig on site within acceptable safety margins, to assist in further
developing and refining the Company's model of the KSZ.
At end of shift at 0500 today, 17 September, Hole TA2DD002 was
at 821m. So far the Company has encountered 170m of continuous
Proterozoic mafic/ultramafic rocks. Kavango's senior field
geologists have continued to make visual inspection of the core and
have reported visible alteration and interstitial blebs of
chalcopyrite in different sections of the hole. The lithologies
range from coarse grained to extremely pegmatitic, the latter
logged in zones that extend 20-30m in thickness.
The Company advises shareholders that thorough analysis is
required of all core samples retrieved from the Proterozoic Complex
in Hole TA2DD002, before any conclusions can be drawn as to what
has been encountered so far. This analysis will include (but not
necessarily be limited to) assay testing and whole rock
analysis.
The Company will make further updates as necessary.
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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
bturney@kavangoresources.com
+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.
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 7,573.1km(2)
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
Chalcopyrite: A copper rich sulphide mineral (CuFeS(2) ), widely
occurring in magmatic sulphide ore bodies.
Pegmatitic: Pegmatites are very coarse grained igneous rocks
having grain sizes in excess of 3cm, Pegmatites are thought to form
as a result of very slow crystallisation and may contain exotic
minerals from a volatile-rich melt.
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.
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