Finance Metals & Minerals News

Kavango-Power Metal expand exploration at Ditau

Kavango Resources plc has started a second drill hole and expanded its exploration programme at Ditau Camp rare earth element (REE)-base metals joint venture (JV) in Botswana.

Modelling: Kalahari sediments were intercepted at 105m in hole DITDD003 (Kavango Resources)

JOINT VENTURE

The 50-50 project comprises the operator and Power Metal Resources plc, as Kanye Resources.

The JV holds two prospecting licences of PL169/2012 & PL010/2019, covering 1,386km2 in the southwest of the country.

TARGETS

The expanded exploration programme includes an additional 16.1km of new audio-magnetotelluric (AMT) surveys over the drill target areas. 

Kavango said this would enable it to optimise the location of drill collar positions.

The company identified 12 targets (i1 to i12) from geophysics at Ditau, which could be carbonatites and / or intrusive complexes that might host carbonatite pipes.

Nine of the 12 targets are particularly well defined.

Carbonatite complexes are the world’s primary source of REEs and other strategic/industrial commodities.

DRILLING

The first planned exploration hole DITDD003 was drilled into the i10 target which is a discrete circular anomaly, 2.2km in diameter.

Kalahari sediments were intercepted at 105m in line with the AMT modelling.

Drilling has also started on hole DITDD004.

The 16.1km expansion of AMT survey covers target areas including 1km over target i10; 5.5km over target i8; 9.6km over target i1.

Kavango is also testing these with diamond core drilling.

COSTS

Sub-contractor Mindea Exploration & Drilling Services (Pty) has agreed to accept for approximately 50% of the drilling costs in Kavango stock, at an issue price of 4.53p per share.

Kavango added it had paid the cash component of its share of the drill contract upfront.