TIDMKAV
RNS Number : 2471T
Kavango Resources PLC
23 November 2021
PRESS RELEASE
23 November 2021
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
KSZ - distinctly magnetised 30km target identified
Kavango Resources plc (LSE:KAV), the exploration company
targeting the discovery of world-class mineral deposits in
Botswana, is pleased to announce the Company has identified 30km
strike length of distinct magnetic Proterozoic gabbro (the "30km
Strike Length") within Target Area A of the Kalahari Suture Zone
("KSZ") Project, in the vicinity of Hole TA2DD002.
The 30km Strike Length is now a high-priority exploration target
for the detection of possible large-scale nickel/copper/platinum
group element (Ni/Cu/PGE) mineralisation.
Spectral Geophysics ("Spectral"), the Company's strategic
partner, has produced an updated 3D magnetic susceptibility model
(the "Updated Mag Sus Model") of the Proterozoic gabbro in Target
Area A. This maps the 30km Strike Length.
According to the Updated Mag Sus Model, zones of the 30km Strike
Length can be intercepted as shallow as 500m. Given that the
Updated Mag Sus Model has been constrained using stratigraphic data
from Hole TA2DD002, the Company is confident in this depth
prediction.
Kavango's confidence in the Updated Mag Sus Model is based
on:
I. Physical evidence seen in Proterozoic drill core from Hole
TA2DD002 ( announced 14 September )
II. Initial results from the downhole electromagnetic ("DHEM")
survey of Hole TA2DD002 ( announced 29 October )
III. Spectral's recognised technical experience and
expertise
Highlights
Ø Spectral inverted and reinterpreted ground magnetic survey
data to create the Updated Mag Sus Model in the vicinity of Hole
TA2DD002
- Spectral has prepared a report for the Company, which
describes the analytical methods it used to produce the Updated Mag
Sus Model. Kavango will publish this report on its website.
Ø Spectral's Updated Mag Sus Model:
- Accurately predicts the intersection of TA2DD002 with the Proterozoic gabbro at 650m
- Confirms that Proterozoic rocks are one set of causative
bodies for the magnetic anomalies, identified from both
aeromagnetic and ground surveys
- Confirms that the extent of the Proterozoic rocks can be
mapped using both aeromagnetic and ground magnetic surveying
- Shows that Hole TA2DD002 appears to have clipped the western
edge of the more magnetic Proterozoic rocks, which are hosted
within the main body of Proterozoic. The main body of the more
magnetic Proterozoic rocks appears to extend approximately 350m to
the east
- Indicates the Proterozoic rocks could be intercepted at <500m depth to the NNW of TA2DD002
- Suggests the Proterozoic rocks are possibly shallower to the
south on the same geological trend
Ø As with the Great Red Spot ( announced 22 November ), Kavango
increasingly believes the 30km Strike has potential to host stacked
Karoo-age and Proterozoic-age Ni/Cu/PGE mineralisation
- Based on visual inspection of core samples taken from TA2DD002
and KSZD001, the Company's preliminary view is the Proterozoic
rocks in these two areas experienced differing intrusive and/or
metamorphosing events ( announced 16 November )
- Kavango will test this theory with detailed petrographic work
and various assay techniques, performed by internationally
accredited laboratories in South Africa.
Ø Kavango expects to use the Updated Mag Sus model to guide
future exploration in the KSZ, specifically to position future Time
Domain Electromagnetic ("TDEM") surveys
Ø The Company will publish images from the Updated Mag Sus Model
on its website ( www.kavangoresources.com ) and its Twitter feed (
@KavangoRes )
Ø Kavango will host a shareholder webinar in early December to
present its future exploration strategy for the KSZ. Key members of
Kavango's technical team will participate in this event. Details
will be published shortly.
Ben Turney, Chief Executive Officer of Kavango Resources,
commented:
"Today's news shows how the various threads of this year's
complex exploration efforts in the Kalahari Suture Zone are
starting to tie together. We've used the latest remote sensing
technology to identify distinct targets, have nearly completed a
ground-breaking drill campaign and recovered physical evidence in
core samples to support our upgraded geophysical modelling.
It very much feels like we are closing in on a scalable
exploration strategy to crack the 5-decade challenge posed by the
KSZ.
Spectral Geophysics' updated magnetic susceptibility model of
Target Area A illustrates the enormous prospective potential of our
licence areas in this region.
The 30km-long magnetised body, within the Proterozoic gabbro, is
just one possible host environment for large-scale
nickel/copper/platinum group element mineralisation. Above that
sits the Karoo, which still remains a core focus of ours.
The fact that we have at least four other sizeable target zones
within 25km distance of of the 30km Strike Length (including the
Great Red Spot) highlights how big this project is. The possibility
of stacked plays overlying each other, simply adds to the overall
promise.
Now that we are increasingly confident in our ability to explore
our ground successfully, we look forward to running accelerated
field programmes next year. We will present more detail about our
updated strategy in our hosted webinar, early next month."
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 (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
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 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.
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty)
Ltd, is the holder of 16 prospecting licences covering 8,831.1km(2)
of ground, including 14 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.
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.
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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END
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