23 February 2024
Kavango Resources
("Kavango" or "the
Company")
ZIM: Hillside IP Surveys & Nara
Drilling
Kavango Resources plc (LSE:KAV), the Southern
Africa focussed metals explorer, is pleased to announce that it has
commenced ground Induced Polarisation ("IP") surveys over four of
its Hillside Gold Project ("Hillside Project") prospects. The
Company intends to use the results of the work to inform an
expanded drill program.
HIGHLIGHTS
- IP
surveys over four prospects at the Hillside Project,
Zimbabwe
o Kavango is completing
16-line km of IP survey lines over targeted areas within four
prospects on the Hillside Project.
o Surveys designed to
identify sulphide bodies associated with high-grade gold-bearing
shear structures related to historic and artisanal
workings.
- Drilling
on four prospects within the Hillside Project
o Four diamond core
holes completed for a total of 1,306m at four prospects on the
Hillside Project gold targets.
o Visual observations
from the cores are encouraging; samples are awaiting export
permission for assay testing.
o Additional 1,400m of
diamond drilling planned to test targets identified by current IP
survey programme and extend intersections observed in recent
drilling.
- Ongoing
exploration in Zimbabwe
o Access and
infrastructure preparation underway at Nara Project for planned
drill programme.
Ben Turney,
Chief Executive of Kavango Resources, commented:
"We have now
drilled four of the Hillside prospects, and the initial visual
inspections are promising. We brought forward the Induced
Polarisation (IP) surveys here, based on visual observation of
cores and other field measurements taken by our team. While we must
await the assay results for confirmation of possible gold values,
we feel confident to continue further exploration at
Hillside.
IP surveys
can be used to map underground metal mineralisation that is
associated with gold. This can be a powerful exploration tool to
plot the extent of possible ore bodies. The extra IP data will help
guide future drilling, by providing Kavango with focused target
areas.
In the
meantime, we continue our preparations to drill
Nara."
Hillside
Project
Four diamond core holes have been completed for
a total of 1,306m at Hillside over four prospects. The core has
been logged, cut, and sampled, with selected samples being selected
for shipment to a laboratory for assay testing.
Visual observations from the cores are
encouraging. These visual intersections are coincident with
multiple known mineralised zones projected down from surface, and
are associated with sulphides and alteration.
Kavango's drilling objective is to acquire
representative intersections from multiple gold-bearing structures
at the prospects to improve its understanding of their individual
mineralisation style, extent, distribution, and potential grade.
Kavango will use this information to inform follow-up drilling and
assess the potential for hosting bulk-mineable gold
deposits.
Kavango has placed a contract for 16-line
kilometres of IP survey lines over targeted areas within the four
prospects at Hillside. The work is now in progress.
The Company will follow Initial Gradient Array
IP on 25m spaced lines with IP sections to aid drill planning. The
survey lines are designed to bisect the extent of historic and
artisanal workings along with Kavango's recently-completed scope
drilling sections. The IP surveys are planned to target
sulphide-associated high-grade gold hosted in quartz veins along
shear structures.
Kavango is planning an additional 1,400m of
diamond drilling to test targets identified by the IP survey and
further assess intersections observed in recent
drilling.
The planned intersection depth for each of the
prospects is up to 350m, ensuring coverage of both the current
observed sulphide intersections and the anticipated IP targets.
Subject to results, Kavango plans to use the drilling to inform
follow-up drilling targeting a bulk-mineable gold
discovery.
Nara
Project
Kavango is currently preparing drilling access
and infrastructure at the Nara Project. The Company is planning a
drill programme pending the results of its current geological
mapping exercise at the Project, its proposed ground geophysics
programme, and assays from its soil geochemistry
programmes.
In addition, Kavango has received analyses from
the 90 augur holes it drilled on the large tailings dump at Nara.
These are now with a resource consultant for modelling.
Leopard
Project
Kavango has reviewed data from previous drone
surveys over the two Leopard Project prospects. It has also
re-processed magnetic data over one area and is currently
processing data from a remaining block.
Preparations for a geochemical soil sampling
programme at the Leopard Project are now underway and are planned
to be followed up by a ground geophysical programme.
Operational
Update
Additional technical recruitment is underway to
ensure capacity matches the size of the Company's work
programs.
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 (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 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'.