Kavango Resources plc said it would accelerate its search for a joint venture partner following completion of the most comprehensive exploration programme on the Kalahari Suture Zone (KSZ) Botswana.
SUMMARY
The company will also continue geophysical surveys while preparing to drill the B Conductors in the project which focuses on discovering nickel-copper-platinum group element deposits.
Kavango published the report on its ‘proof of concept’ which will guide the company’s future commercial strategy.
Details of the report’s summary include:
– geochemical proof of magmatic mineralising processes (metal depletion and enrichment) throughout the entire KSZ
– potential for nickel-copper-platinum group element (PGE) massive sulphide in the KSZ North
– identification of previously unrecognised PGE potential in the KSZ South
– potential for low sulphide PGE-nickel-copper and nickel-copper-PGE massive sulphide encompassing KSZ North and KSZ South
– introduction of new ore deposit models (Norilsk, Insiswa, Eagle, Tamarack, and Uitkomst), which will direct Kavango to the right host rocks and improve future targeting
DISCOVERIES
The report also concluded that Kavango was using appropriate geophysical exploration technologies to discover economic metal deposits.
Once discovered, the company would rank any targets in order of priority before drilling.
There were also recommendations for improvements to Kavango’s exploration programme.
TSHANE COMPLEX
Future exploration will focus on Proterozoic age intrusion or set of intrusions, collectively referred to as the Tshane Complex, which forms a 650 x 50km regional magnetic anomaly.
Kavango said that the Tshane intrusions were fractionated, magnetite-bearing gabbros with approximately double the base metal and five times the precious metal endowment of the Karoo sills.
The company added that recommended drilling was in east-west cross sections to enable mapping of chalcophile distribution, enrichment, and depletion.
POTENTIAL
Chief executive Ben Turney added that the company had started the project as a concept but had now assembled a significant data set that validated the potential for discovery.
“We are the first company to demonstrate that mineralising processes have occurred throughout the KSZ, based upon evidence of nickel, copper and PGE depletion and enrichment.
“This suggests there is a high likelihood that potentially economic magmatic mineralisation may exist, both within the Karoo and the Proterozoic Tshane Complex.
“The main questions to answer now are where and at what depth?
“The technical review is a substantial piece of work that contextualises the project based upon our exploration results and enables Kavango to undertake much more informed discussions with interested parties.”