Kavango Resources plc said it had appeared to have intercepted the magnetic anomaly at the projected target depth at the rare earth element-base-precious metals project at Ditau Camp in Botswana.
TARGET i10
The 50-50 joint venture, under the name of Kanye Resources plc, is between Kavango as the operator and Power Metal Resources plc.
Kavango has completed drilling exploration hole DITDD004, the second hole in the programme, to a depth of 389m into the i10 target previously modelled as a possible carbonatite.
The company added it had observed “highly elevated magnetic readings between 293m and 321m” from the zone of interest which coincided with a visibly altered section of rock.
Kavango will conduct a 1km audio-magnetotelluric (AMT) survey over the i10 target in the coming weeks.
TARGET i1
The diamond core drill rig will now mobilise to target i1, the largest of three targets Kavango plans to drill in the current campaign.