Kavango Resources plc said it planned to drill a new electro-magnetic anomaly in the Hukuntsi (northern) section of its Kalahari Suture Zone (KSZ) metal sulphide project in Botswana.
Designated target C1, the conductive anomaly is located 11km from target A2 identified in April 2020. Both lie in ‘Norilsk-style’ gabbro keels.
DRILL PROGRAMME
The company expects to drill a minimum of one hole in A2 at the end of June and one in C1 during July.
The main objective of both holes is to recover drill core from the bottom of the keels for further analysis to test the system’s potential to host major metal sulphide deposits.
Kavango said that drilling might be increased once the rig was on site and pending further data analysis
Drill operator Mindea Exploration and Drilling Services (Pty) will set up camp between targets A2 and C1.
Kavango will pay less than half the total drill cost to Mindea in cash (£70,000), with the remaining fees payable in shares.
SIGNIFICANT
“The ‘Norilsk Model’ for metal sulphide systems suggests deposits originally formed in clusters,” said chief executive Michael Foster.
“In this context, it is encouraging that C1 is located relatively close to A2. We believe both targets lie potentially within the same geological corridor of Karoo gabbro.
“If drilling validates our interpretation of the data, this could prove to be a significant development in our attempts to unlock the Kalahari Suture Zone.
“The fact that C1 shares a number of highly similar characteristics with A2 is very encouraging. Like A2, C1 is in an ideal geological setting (at the bottom of a ‘keel’), is nearly 2km2, has a conductance of 2,500 Siemens and a decay constant of ~360msec.”
LICENCES
Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, holds 14 prospecting licences covering 7,573.1km2.
These include 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for copper-nickel-PGM rich sulphide ore bodies.