Kavango Resources PLC - mining company focused in Botswana - Completes exploration hole DITDD004 after drilling to a depth of 389 metres into the i10 target, a 2.2 kilometre magnetic anomaly previously modelled as a possible carbonatite.
The hole at the Ditau project appears to have intercepted the magnetic anomaly at the projected target depth.
"We are encouraged to have intercepted the primary target at the projected depth. Once again, Kavango's magnetic modelling is proving to be an accurate vector for drill targeting. Of course, a magnetic model can only tell us so much from surface, but in this instance the drill core we've recovered is visibly attention-grabbing," said Chief Executive Officer Ben Turney.
Current stock price: 2.70 pence, down 8.5% on Wednesday
12-month change: down 41%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Kavango Resources (KAV)