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Kavango Extend Ditau Target

31 March 2023 15:19
LSE: KAV

Things continue to heat up in Botswana for Kavango Resources, with the Company now confirming a 470-metre strike extension to a mineralised banded iron formation that the Company uncovered earlier this month at Target i10 within its Ditau Project.

Target i10 was originally intersected in April of last year when drill hole DITDD004 logged a 100-metre-thick mineralised zone of interest that was then analysed 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 extension comes from a review of drill hole X077, which was drilled 470 metres from DITDD004 and appears to have intersected the same mineralised BIF as DITDD004, with the two holes sharing evidence of the same mineralisation style in the form of pyrite, chalcopyrite, and carbonate alteration.

Based on its review and the similar styles of mineralisation, Kavango now has cause to believe that Target i10 could represent a large-scale, continuous system that is prospective for lode gold mineralisation.

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( Cross-section viewed west, showing Hole DITDD004 and Hole DITDD003, drilled by Kavango, and Hole X077, drilled by the Third Party)

X077 was drilled in 2021 by a third party that held a diamond prospecting licence that overlapped Kavango’s Ditau metals exploration prospecting licences, with that company abandoning the hole after it was revealed the target was not a kimberlite and had no potential to host diamonds.

The Company said it is now working on a more thorough analysis of X077’s core alongside analysing one other hole in DITDD004’s proximity also drilled by a third party.

“The initial results of our review of neighbouring exploration holes to DITDD004 are highly encouraging. We have been able to establish at least a 470m strike extent of the Banded Iron Formation directly from DITDD004 to Hole X077, bounded by the i10 magnetic anomaly. Both holes show evidence of the same mineralisation style. We’ve achieved this without any further drilling,” chief executive Ben Turney said.

“Given that both DITDD004 and X077 remain open at depth in the Mineralised BIF, the large-scale promise of this system is strongly underlined. In the context of Dr. Mumin’s view of the lode gold potential here, this is very positive. We are now in the process of cutting core to send for assay testing and look forward to receiving the results.”

This discovery is the final bow on a massive month for Kavango, with the Company now targeting a Nova-style discovery at the Kalahari Suture Zone on the back of the re-interpretation of the B conductor cluster.

KAV’s London Stock Exchange-listed share price has risen 4.55 per cent today, currently selling at 1.15 pence (2:55 pm UTC+ 8 hours).

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