Kavango Resources plc said it had identified a gold mineralising system from analytical results, including gold fire and whole rock assays, at the Ditau Camp rare earth element project, southwest Botswana.
ZONE OF INTEREST
The company added that analyses from hole DITDD004, drilled to 393.29m on Target i10, showed the presence of gold associated with hydrothermally altered rocks.
Kavango has now expanded the ‘zone of interest’ in DITDD004 from 292.60m to 393.29m (previously 293.00m to 321.00m).
The company said that typically high iron content, from 292.60m to 393.29m, characterised the zone of interest.
It also exhibits a range of haematite, magnetite, and sulphide rich zones, including a pyrite-rich, brecciated zone from 309.00m to 346.53m.
Within the zone of interest, Kavango encountered multiple (non-continuous) gold values with a peak grade of 0.175 parts per million (ppm) gold over 2m (from 312.00m to 314.00m).
The company found 11 values >0.05ppm gold, typically each of 1m intervals, between 304.00m and 345.50m, covering 12.50m over the area.
“A significant number of results for iron are above the upper detection limit (25%) of the method utilised,” said Kavango.
Additional analyses are pending for holes DITDD003, DITDD005 and DITDD006.
Kavango is now re-evaluating its exploration model for Target i10 and plans further drilling to evaluate further the size and scale of the system.
GENETIC ORIGIN
Chief executive Ben Turney added that drilling at Ditau targeted three very different and essentially ‘blind’ geophysical targets, about which there was very little geological information.
“Gold had never been discovered in this area, but our geological team maintained an open mind during drilling.
“We await the results of petrological work, which will enable us to understand the genetic origin of these gold values.”
DITAU
The company considers the project site prospective for carbonatite hosted rare-earth element (REE), base metal and possible precious metal mineralisation.
Kavango previously identified 12 geophysical structures/targets at Ditau (targets i1 to i12), which it believes could be possible carbonatites and/or intrusive complexes that may host carbonatites.
PROJECT OWNERSHIP
Kavango is the operator of the two prospecting licences in the Ditau Camp REE project covering 1,386km2.
The company is in the process of regaining 100% ownership of the project from Power Metal Resources plc with which it has a 50-50 joint venture under the name of Kanye Resources.