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Kavango Eye’s Nova-Style KSZ Target

10 March 2023 15:38
LSE: KAV

On the back of the re-interpretation of the B conductor cluster, Kavango Resources are now looking for a new Nova-style discovery at the Kalahari Suture Zone in Botswana, with similarities between the two projects becoming increasingly evident.

Uncovered in 2012 by Sirius Resources and Newexco in Western Australia’s Fraiser Range, Nova is one of Australia’s most well-known nickel discoveries as it was at the time a totally new style of nickel-copper mineralisation with further exploration leading to the discovery of the Bollinger Nickel Sulphide Deposit down plunge of Nova.

The Company’s significant upgrade in B1’s conductivity is due to its interpretation of the presence of possible pyrrhotite, which is highly conductive and often associated with pentlandite, a host rock for nickel-copper sulphide mineralisation.

Interestingly, Richard Hornsey, a leading authority on nickel sulphide exploration, provided a separate review of all exploration data available from the KSZ for the company and identified similarities between the KSZ and Fraser Range, where Nova is located.

In his report on the KSZ, Mr Horensey noted that “The closest terrane analogue from a pure exploration strategy and technical perspective is the Fraser Range belt of Western Australia, and it is likely that a similar exploration strategy will require implementing for the KSZ to address the similar exploration and operational challenges expected to be encountered.”

Chief Executive Ben Turney also observed similarities between the drill programs at the two projects, noting that drill hole 25 at Nova missed 15m of massive nickel sulphide mineralisation by mere metres, similar to what happened to the B1 conductor.

“The difference between hitting & missing is very small. We now believe we missed the B1 Conductor by a matter of meters. Following our recent data re-interpretation of the downhole electromagnetic survey, we’ve remodelled the conductance to 28,700 Siemens” Chief Executive Ben Turney said.

Nova’s potential led to Sirius being acquired by Australian mining giant Independence Group in 2015 for the sum of 1.8 billion Australian dollars, a deal that has been paying dividends for Independence with mining at Nova producing a whopping 26,675 tonnes of nickel, 11,483 tonnes of copper, and 982 tonnes of cobalt at a cash cost of A$1.95/lb Ni last year alone.

And with the similarities between Nova and Kavango’s B Conductor cluster growing, it’s obvious why the London-listed explorer is excited to hit its new target base at the KSZ.

“The B1 Conductor is an A-ranked target in nickel exploration. We can’t wait to drill it.”

KAV’s London Stock Exchange-listed share price is currently trading at 1.30 British Pence (3.27 pm UTC+ 8 hours).

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