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SP Angel . Morning View . Gold shines as rate hike expectations pull back
Kavango Resources (KAV LN) 1.56p, Mkt cap £11.3m – Core review of drilling at Ditau, Botswana and next steps
Kavango reports it has relogged its drillhole DITDD004 at the Ditau Project in Southern Botswana.
The decision to relog was taken following a review by Dr Hamid Mumin, who has recently completed a geological review of the site.
Dr Mumin suggested, on the back of the review, that the site had the potential to host a Banded Iron Formation (BIF) hosted Lode Gold system.
The relogging noted localised brecciation, with higher permeability than previously believed, which offers the potential for sulphide and gold bearing fluids.
Gold assays are also considered to coincide with the presence of fine pyrite in the BIF, which is typically associated with gold deposits.
As a result of the review, Kavango will look to develop a new deposit model, and plans to log additional drillholes over the I10 Target by the beginning of April.
Additional core samples have been shipped to Canada for analysis and up to 24 samples are currently being reviewed for petrological work.
The Company will execute a geophysical survey at Ditau, with IP surveys set to be used to target the pyrite as a proxy for gold.
Kavango Eye’s Nova-Style KSZ Target
10 March 2023
LSE: KAV
Mining
Tim Cornish
On the back of the re-interpretation of the B conductor cluster, Kavango Resources are now looking for a new Nova-style discovery at the Kalahari Suture Zone in Botswana, with similarities between the two projects becoming increasingly evident.
Uncovered in 2012 by Sirius Resources and Newexco in Western Australia’s Fraiser Range, Nova is one of Australia’s most well-known nickel discoveries as it was at the time a totally new style of nickel-copper mineralisation with further exploration leading to the discovery of the Bollinger Nickel Sulphide Deposit down plunge of Nova.
The Company’s significant upgrade in B1’s conductivity is due to its interpretation of the presence of possible pyrrhotite, which is highly conductive and often associated with pentlandite, a host rock for nickel-copper sulphide mineralisation.
Interestingly, Richard Hornsey, a leading authority on nickel sulphide exploration, provided a separate review of all exploration data available from the KSZ for the company and identified similarities between the KSZ and Fraser Range, where Nova is located.
In his report on the KSZ, Mr Horensey noted that “The closest terrane analogue from a pure exploration strategy and technical perspective is the Fraser Range belt of Western Australia, and it is likely that a similar exploration strategy will require implementing for the KSZ to address the similar exploration and operational challenges expected to be encountered.”
Chief Executive Ben Turney also observed similarities between the drill programs at the two projects, noting that drill hole 25 at Nova missed 15m of massive nickel sulphide mineralisation by mere metres, similar to what happened to the B1 conductor.
“The difference between hitting & missing is very small. We now believe we missed the B1 Conductor by a matter of meters. Following our recent data re-interpretation of the downhole electromagnetic survey, we’ve remodelled the conductance to 28,700 Siemens” Chief Executive Ben Turney said.
Nova’s potential led to Sirius being acquired by Australian mining giant Independence Group in 2015 for the sum of 1.8 billion Australian dollars, a deal that has been paying dividends for Independence with mining at Nova producing a whopping 26,675 tonnes of nickel, 11,483 tonnes of copper, and 982 tonnes of cobalt at a cash cost of A$1.95/lb Ni last year alone.
And with the similarities between Nova and Kavango’s B Conductor cluster growing, it’s obvious why the London-listed explorer is excited to hit its new target base at the KSZ.
“The B1 Conductor is an A-ranked target in nickel exploration. We can’t wait to drill it.”
KAV’s London Stock Exchange-listed share price is currently trading at 1.30 British Pence (3.27 pm UTC+ 8 hours).
https://themarketbull.com.au/2023/03/10/kavango-eyes-nova-style-ksz-target/
This is by far the most encouraging slide I've seen in our hunt for #nickel in the #KSZ. The cross section is from the world-class Nova Bollinger discovery in the Fraser Range
Just look at Holes 025 & 026. 025 hit nothing, while 026 hit 15m of massive sulphides. The difference between hitting & missing is very small.
We now believe we missed the B1 Conductor by a matter of meters. Following our recent data reinterpretation of the downhole electromagnetic survey we've remodelled the conductance to 28,700Siemens
As Richard Hornsey showed us, there are a lot of similarities between the #KSZ & Fraser Range in terms of the host environment for potential #nickel/#copper sulphides
The B1 Conductor is an A-ranked target in #nickel exploration.
We can't wait to drill it.
#KAV
https://twitter.com/Ben_Turney/status/1633888530370789377?s=20
https://www.youtube.com/watch?v=pxSU5NHNBmk
Ben Turney
@Ben_Turney
·
3m
Thanks to
@proactive_UK
for the opportunity to give more context to #KAV's #Ditau #gold news
The thickness of the Banded Iron Formation, the fact it was open at depth & the extent of alteration are promising indicators of the potential size of the system
Kavango Resources
@KavangoRes
·
3h
Our COO, Brett Grist, landed in Johannesburg this morning, on his way to #Botswana
This is a last-minute trip to the field for Brett, who will oversee the relogging & resampling of core from DITDD004, as we pursue the newly identified Lode Gold potential at #Ditau
#KAV
SP Angel Morning View
Kavango Resources (KAV LN) 1.1p, Mkt cap £7.8m – Potential for large-scale Lode Gold discovery
An assessment of Kavango’s previously identified 100m thick zone of interest at the DItau Project, Botswana has been reviewed.
The review identified the ‘likely’ presence of a potentially substantial alteration system within a thick Banded Iron Formation.
The reviewer suggests that the formation has the potential for gold mineralisation, through an analysis of assays, , drill logs and core photography.
Dr Mumin, the reviewer, notes that ‘iron formations are so important in the formation of world-class lode gold deposits,’ because ‘the presence of abundant iron forms a type of chemical trap for gold.’
Dr Mumin suggests that "due to the overall robustness of the current discovery, the chances of finding economic grades in the Ditau discovery area is considered very good."
Kavango’s management notes that the exploration campaign ‘did not find carbonatites,’ as had been intended, but note that such Banded Iron Formations ‘can be capable of hosting a multimillion-ounce gold deposit.’
Going forward, 200 additional assays are being undertaken to target the gold and silver bearing intervals.
Up to 24 samples have been sent to Canada for petrology work.
The Company has also applied for licences adjacent to the Ditau property for potentially crucial ground.
Just in from the field!
As the sun went down, final preparations were being made to start drilling our first exploration hole in the Kalahari #Copper Belt
Exciting times for all involved in #KAV
https://twitter.com/kavangores/status/1579212071878946818?s=46&t=h_BJnFptuSN7fuBjwSsP_A
Live alert Kavango Resources PLC - Kavango Resources CEO says drills are ready to start turning on the Kalahari Copper Belt (LON:KAV)
hxxps://youtu.be/UUsuyD82r0w
Drilling by end of week
Should take three week
Then core to lab
Will announce anything significant immediately
Some of you guys need to take a breath and listen to yourselves you sound ridiculous. Let them get on with running the company which is in much better shape than it has been for a long time. Give your heads a shake. FFS.
https://www.youtube.com/watch?app=desktop&v=POltNAlvJKc&ab_channel=KavangoResources
On Wednesday 01 June @ 1900 @KavangoRes will present the IOCG model for the Great Red Spot in more detail to shareholders
Jeremy Brett, Hillary Gumbo & Ben Turney will host a live (recorded) event. Details to be published shortly via RNS
We will publish the video on the website
https://twitter.com/kavangores/status/1531025148819685376?s=21&t=7PqYkJf58gCOCiScuiJNfg
There was a second interview this with and it stated ‘ten drill core intersections underwent detailed petrological evaluation by SJT Metlin(sp?) with positive results’
‘We’ve got the first physical evidence of the potential for mineralized systems within the KSZ’ ‘all the previous work at the KSZ has been lacking this one ingredient’ ‘one of the big, big surprises of this campaign was what we discovered down in the Proterozoic’ they also have results back from the GRS.
https://youtu.be/xOni-9nTdac
One plausible theory on why no assay results have yet been released is that KAV are already in discussions with industry partners over a JV on the northern part of the KSZ only.
My understanding is that these industry partners do not only obviously include the majjotrs but also the mid-tiers. My hunch is still firmly on Kobold Metals.
A JV with an industry partner would allow KAV to start exploring the much shallower southern part of the KSZ plus continue to work on the KCB and Ditau.
Talking of Ditau I really do not believe that until the last couple of days that the market had grasped the massive REE potential at Ditau which could potentially be a company maker in it's own right.