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Kavango Uncover Golden Potential

6 March 2023 19:04
LSE: KAV

Hot on the heels of upgrading a conductor at the KSZ, Kavango Resources unearth further exploration potential in its African portfolio following the review of a previously uncovered 100m thick zone of interest at the Ditau project showing Lode Gold exploration potential.

Drill cores from the zone of interest uncovered in October were assayed by Dr Hamid Mumin, Professor and Former Chair of the Department of Geology at Brandon University, who identified a banded iron formation (BIF) that he believes has a high potential for lode-style gold mineralisation.

“The reason iron formations are so important in the formation of world-class lode gold deposits is that the presence of abundant iron forms a type of chemical trap for gold.” Dr Mumin said, “this is a new and very exciting opportunity for Kavango.”

According to Dr Mumin, the BIF remains open at depth and is likely to contain a large alteration system as well, with Dr Mumin believing both the BIF and intersecting structure extends beyond the length of the current drill hole.

The Company said that systems like this are capable of hosting multimillion-ounce gold deposits

“Dr Mumin’s report represents a significant potential breakthrough for Kavango on the Ditau Project. We didn’t find carbonatites as we had intended, but we are certainly delighted with the potential for a large Banded Iron Formation hosted Lode Gold system,” Executive Directors Brett Grist and Jeremy S. Brett said.

“We look forward to verifying this ore deposit model with Dr Mumin on the Ditau Project, via the prudently recommended detailed drill core re-logging, petrology and geochemistry.”

Further drill holes and samples are now being couriered to Dr Mumin to allow him to verify his proposed exploration program.

KAV’s London Stock Exchange-listed share price is currently trading at 1.10 British Pence (3.47 pm UTC+ 8 hours).

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