(Alliance News) - Kavango Resources PLC on Friday said it has intersected a high level gabbroic intrusive in one of the holes drilled at Kalahari suture zone project in Botswana.
The exploration company said the 1,000 metres drilling programme was designed to test its exploration strategy of identifying high level, Karoo age gabbroic sills predicted from its geophysical surveys, and confirm the existence of metal sulphide mineralization.
Gabbroic sills are thin, planar bodies of solidified magma.
As a result, Kavango said the intersection of gabbro - magma which includes mafic minerals - at 53 metres from surface demonstrated the effectiveness of its exploration methodology and supports its geological model.
In addition, the identification of conductors within the gabbro suggests the potential for the presence of metal sulphides on the footwall of the intrusive, Kavango said.
"Our multi hole drill program on the Kalahari project progresses well, with the hunt being on for massive sulphides," said Chief Executive Michael Foster.
"We look forward to identifying sulphide mineralization in at least some of the proposed drill holes," added Foster.
Kavango shares were trading 16% lower in London on Friday at 2.02 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Kavango Resources (KAV)