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Share Price Information for Kavango Resources (KAV)

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Share Price: 1.425
Bid: 1.40
Ask: 1.45
Change: -0.025 (-1.72%)
Spread: 0.05 (3.571%)
Open: 1.50
High: 1.55
Low: 1.425
Prev. Close: 1.45
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Kavango confirms February start for Ditau Prospect drilling

Mon, 28th Jan 2019 15:40

(Sharecast News) - Kavango Resources announced on Monday that drilling at its Ditau Prospect, which forms part of the Kalahari Suture Zone in Botswana, would begin in early February.The London-listed firm said drilling at the first of two coincident geophysical and geochemical base metal conductor/anomalies at the Ditau Prospect would start shortly.It said the 1,000m initial drill program was designed to intersect the targets at 100m and 200m vertical depth, and would involve a combination of both reverse circulation and core drilling, with the target conductors extending from just below the surface to depths in excess of 600m.A drilling contract had been signed with Maquana Explorations - an experienced Botswana company based at Selebi-Phikwe.The firm said the Ditau target anomalies extended north-south for at least four kilometres, and represented "very compelling" geophysical anomalies which were coincident with "significant" zinc in soil anomalies on surface.Zinc, which was the most mobile of the base metal elements, acted as a pathfinder for potential base metal mineralisation at depth."We are pleased to be able to announce the start of drilling at the first of several exciting coincident geophysical and geochemical base metal anomalies that have been identified at the Ditau Prospect, which forms part of the KSZ Project," said chief executive officer Michael Foster."The drilling is scheduled to commence shortly and results will be announced as they become available."Foster said that, with the success of the firm's exploration techniques, the board expected "many more" anomalous areas to be identified following completion of the second phase of the airborne electromagnetic survey."These will be followed up on the ground and prioritized for drilling."
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