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Kavango Uncover Historic Potential

5 April 2023 15:24
LSE: KAV

Kavango Resources continue to grow Ditau’s profile, with the Botswanan Project showing further potential for a large-scale mineralised system through the logging of 2 historic drill cores taken in proximity of the Project’s DITDD004 drill hole, revealing clear signs of mineralisation.

The two holes, XO77 and XO81, were drilled by a third party in proximity to Kavango’s drill hole DITDD004, which targeted i10 and logged a 100-metre-thick mineralised zone of interest that was identified as a banded iron formation (BIF) believed to have a high potential for lode-style gold mineralisation by Dr Hamid Mumin, Professor and Former Chair of the Department of Geology at Brandon University.

X077 was first analysed by Kavango last week and provided a 470-metre strike extension to this mineralised banded iron formation, with the drillcore review confirming this extension as it contains the same extensive brecciated BIF encountered in DITDD004.

With the mineralised BIF within X077 remaining open at depth and confirming that mineralisation at hole DITDD004 is not isolated and is part of a larger system, the company is now considering firing up the rig for a twin hole to test this target.

X081 is located 3 kilometres to the southwest of DITDD004 and hit a different magnetic target to DITDD004 but nonetheless shows visual evidence of mineralisation, containing extensive relict textures after pyrite, and iron oxides in veins alongside signs of intense hydrothermal activity.

Kavango believes that the mineralising system extends beyond the two holes, with the explorer now sending samples of the cores for assay testing to determine whether the mineralising system between DITDD004 and X077 is related to that of X081.

The Company said it will share all data and samples with Dr Mumin in order to upgrade confidence in its new exploration model.

“Gaining access to exploration Holes X077 and X081 via the Botswana Geological Institute could prove to be decisive in our Ditau exploration programme. X077 has already demonstrated the potential strike extent of the thick mineralised Banded Iron Formation we intercepted with our Hole DITDD004 last April,” Chief Executive Ben Turney said.

“However, the identification of X081 opens an even more intriguing line of investigation for us. Evidence of intense local hydrothermal activity and the clear presence of iron oxides and sulphides strengthen the possibility of a regional exploration play. We now look forward to assay results to guide our next steps.”

KAV’s London Stock Exchange-listed share price has risen 6.98 per cent today, currently selling at 1.15 pence (3:01 pm UTC+ 8 hours).

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