Kavango Resources plc said it had confirmed copper-silver mineralisation in the first high priority target at the Karakubis copper project in Botswana’s Kalahari copper belt.
MODELLING
Analysis of core also showed “further indicators of structural trap sites” and “validated” the company’s modelling of the KCB.
Results also confirmed the project’s prospectivity for “large-scale copper/silver deposits”, with an anticipated “increased chance of discovery” over the remainder of drilling.
The 5,000 metre campaign began in June with the aim of confirming copper mineralising fluids through Karakubis and the presence of structural trap sites.
Of the two drilled holes, the first was abandoned at a depth of 243.05m due to technical issues while the second was successfully drilled to 514.38m.
“Spot readings taken from handheld pXRF indicate the presence of copper, silver, zinc and lead, suggesting the mobilisation of copper sulphides in mineralising fluids within a large system,” said the company.
“This may provide a vector towards larger-scale mineralisation.”
Kavango’s drilling contractor Mitchel Drilling has mobilised to the second high-priority target where the third hole is currently at 232.58m.
Chief executive Ben Turney added that the results had surpassed the company’s expectations.
“Now that we have received such strong confirmation that our modelling appears to be correct, we move forward in eager anticipation.
“With a further 4,300m of drilling planned over our remaining 14 high-priority targets, we believe our chances of discovery success have increased significantly.”