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Kavango commence drilling at Hillside Prospect 2

19 June 2024 17:50
LSE: KAV

Kavango Resources plc has announced the start of follow-up discovery drilling at its Prospect 2 target within the Hillside Gold Project in Zimbabwe. This new phase of drilling aims to build on promising initial results, while the drill rig has been moved to the Hillside Project after completing operations at the Nara Gold Project.

Working around BRDD001

The initial Hole BRDD001 was drilled to 400.40m, intersecting a well-mineralised zone 7.2m wide, rich in gold and sulphides at a relatively shallow depth.

The new drilling will target the promising results from Hole BRDD001, which included 7.2m @ 9.95 g/t gold from 50.64m depth (including 1.61m @ 31.57 g/t gold) and 2.00m @ 2.12 g/t gold from 86.00m depth.

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Figure 1: Plan view of Prospect 2, showing mapped artisanal workings, the historic mine, the surface trace of Hole BRDD001, proposed surface trace of Holes BRDD002 & BRDD003 and geo location of high-grade gold zone.

Holes BRDD002 and BRDD003 will be sited 80m either side of Hole BRDD001, to the NW and SE. The holes are designed to test the strike extent of the mineralised zones encountered in BRDD001. Both holes are expected to be drilled to a depth of 350m in the same direction and inclination as Hole BRDD001.

Further IP surveys at Hillside

Kavango completed an IP survey over two 950m lines across Prospects 2 and 3. These surveys help in identifying resistivity and chargeability anomalies that indicate sulphide mineralisation, often associated with gold deposits.

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Figure 2: IP cross-section showing apparent resistivity with artisanal workings and recent drilling overlaid.

The next phase will involve gradient array IP surveys on lines 200m apart, covering the entire Hillside Project. Detailed IP sections will then map interesting anomalies to understand their depth and extent.

Management comments

Ben Turney, CEO of Kavango Resources, emphasised the importance of the upcoming drilling program. “The next phase of discovery drilling at Hillside is extremely important for Kavango. We will follow up on the significant success we had with Hole BRDD001 at our Prospect 2 target. Our next two holes will test the projected 162m strike extent that we’ve mapped from surface, based on known historic and artisanal mine workings.

“What is especially exciting about this target is that if we are correct, it presents both a long-term bulk-mining opportunity and the chance for a near-term higher-grade open-pit.”

KAV’s London Security Exchange-listed share price is currently trading at 1.39 GBX (6:00 pm UTC+ 8 hours)

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