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(Alliance News) - Kavango Resources PLC said Monday it has completed the first phase of drilling on its Kalahari Suture zone project in Botswana.
The exploration company said that drilling has been completed within the budget, after successfully testing the first three of the 15 targets identified as having potential to host "massive" sulphide ore bodies.
The company said during the drilling programme, 749 metres of reverse circulation drilling and 344 metres of diamond core drilling were completed over six holes on three targets.
Kavango said the drilling has successfully confirmed that its exploration strategy, which includes airborne electromagnetic methods, soil geochemical sampling, and CSAMT resistivity surveying, is effective in identifying buried gabbroic intrusions and zones of conductivity.
Also, disseminated sulphide mineralisation has been intersected at various depths in a number of gabbro sills.
Chief Executive Officer Michael Foster said: "It is very encouraging to note that the company's exploration strategy for the discovery of a world class Cu/Ni/PGE magmatic sulphide deposit appears to be valid and progressing well."
"A second phase of drilling will be planned in the new year to follow up assay results and the downhole surveys, as well as additional priority targets," Foster said.
Kavango shares were up 0.5% in London at 2.01 pence each on Monday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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