The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Information re area
https://www.sandfire.com.au/site/PDF/e5593292-47de-4396-80fe-eef781df2e04/DiggersDealersInvestorBriefing
Mon, 19th Jul 2021 12:30
RNS Number : 6879F
Kavango Resources PLC
19 July 2021
PRESS RELEASE
19 July 2021
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
KCB: South Ghanzi - 18km long open target at Morula
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce further encouraging soil sampling results from PL 036/2020 ("South Ghanzi Project") in the Kalahari Copper Belt ("KCB").
150km of soil sampling lines have now been completed over the Acacia and Morula targets on the South Ghanzi Project. Morula is now estimated to be at least 18km long (up from 12km previously announced) and between 800m and 2.4km in width. The anomaly remains open along strike in both directions.
In addition to this, a third sub-parallel geochemical anomaly has been identified immediately to the south of Morula. This target (designated name "Happy") appears to be at least 5km long and 700m wide.
Promising, in-soil copper readings have been recorded on all three targets (Acacia, Morula and Happy).
The South Ghanzi Project is held in a 50/50 Joint Venture with Power Metal Resources plc (LSE:POW) ("Power Metal"). Kavango is the operator.
Highlights
Ø Extension of infill soil sampling
- Additional infill soil sampling lines extended from 5.5km to 11km
- Longer lines led to the identification of the Happy Target.
- Total of 150km of soil sampling lines now complete over Acacia, Morula and Happy
- 2,105 soil samples taken
- 1,199 samples returned copper in soil readings >30ppm
- 1,050 samples returned zinc in soil readings >29ppm (zinc is a "pathfinder" element for sedimentary hosted Copper-Silver deposits)
Ø 11 additional sample lines over Morula have confirmed:
- The target is at least 18km in length
- Width varies from 800m to 2.4km
- Open along strike in both directions
- 63 highly anomalous copper readings >45ppm, with 5 results >62ppm
- Zinc in soils correlates closely with copper readings, including 95 highly anomalous zinc readings of >71ppm Zinc including 9 results >91ppm
- The clearly defined mineralised system appears to follow a large regional fault/shear zone
Ø New copper/zinc in soils anomaly identified as the Happy Target:
- 5km long and 700m wide
- Soil sampling returned readings with significant concentrations of copper including 33 samples between 35ppm to 57ppm, and 28 samples assaying between 71ppm to 86ppm zinc.
Ø Next steps
- Induced Polarization (IP) and Audio-frequency Magnetotellurics (AMT) surveys planned to define drill targets
- Further soil sampling on Acacia, Morula, Happy and other targets in the South Ghanzi Project
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
"Morula is big. The maps we will publish on our website of the soil sampling result paint a compelling visual picture, but we remain grounded at this stage.