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LONDON (Alliance News) - Kavango Resources PLC on Thursday predicted a prospective hydrothermal system under complete cover at its KSZ massive sulphide project in Botswana.
A second second hole at the Ditau prospect in KSZ was finally stopped at 557.3 metres with good core recovery. The second hole mirrored the the first, which is 1.8 kilometres west, containing an intersection of more than "320 metres of intensely altered Karoo sediments above a gabbroic intrusive".
Kavango Chief Executive Michael Foster said: "We are extremely encouraged that the geophysics, geochemistry and the initial drilling which we have now completed at Ditau have been very successful in predicting a prospective hydrothermal system under complete cover. The large system displays important ingredients for mineral deposits, such as intrusives for heat and metal source, receptive overlying sediments with accompanying alteration and anomalous metal values. Assays are eagerly awaited and will be announced to the market as soon as they become available. The company will then be in a position to compile a 3D model, with the extensive information we now have, to understand fully the potential of Ditau."
Ditau is underlain by anomalies suggesting a 7 kilometre by 5 kilometres intrusive body at depth.
While the portable XRF analyser used was unable to give indicative values for gold, silver, and platinum group metals, results have suggested elevated values copper, nickel, cobalt, and zinc as well as high levels of rare earth elements.
Shares in Kavango were down 2.7% at 3.60 pence on Thursday afternoon.