Last checked at 13 Mar 2023 07:00
13 March 2023
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Ditau Core Review
Kavango Resources plc (LSE:KAV) ("Kavango"), the Southern Africa focussed metals exploration company, is pleased to announce completion of relogging of drillhole DITDD004 at the Ditau Project.
CORE REVIEW RESULTS
· Relogging of Hole DITDD004 complete, following the recent recommendations from Dr. Hamid Mumin (>>> announced 06 March 2023) who has proposed a possible Banded Iron Formation (BIF) Hosted Lode Gold system at Ditau.
· Hole DITDD004 was drilled to test the i10 Target.
· Key observations from relogging of Hole DITDD004 include:
· Localised brecciation of the BIF has enhanced permeability, allowing passage of sulphide and gold bearing fluids.
· The previously reported gold assays (>>> announced 14 October 2022) are seen to coincide with the presence of fine pyrite in the BIF.
· The association of pyrite with the gold, typical in gold deposits, is useful confirmation of some of the characteristics of the Ditau mineralisation. These characteristics will then be targeted in the next stage of exploration.
· Kavango is developing a working hypothesis that some of the sediments above the BIF may be of Proterozoic age, rather than of the much younger Karoo age sediments.
· If this is the case, then mineralising fluid flow could also have taken place through these.
· Proterozoic age BIFs, such as at Ditau, can be associated with Lode Gold systems.
Brett Grist, Chief Operations Officer of Kavango, stated,
"Dr. Hamid Mumin's report has highlighted the gold potential at Ditau and proposed a new deposit model. Relogging of the core by Kavango has identified a number of features that could be consistent with this. We look forward to logging the additional drillholes we've identified over the I10 Target at the end of this month and using the results to expand our exploration program."
NEXT STEPS
· Additional core samples have been taken and will be sent to a laboratory in Canada for additional assays.
· Up to 24 samples are also being sampled for petrological work under the supervision of Dr. Mumin, aimed at further enhancing Kavango's understanding of the mineralisation style prior to future drilling.
· Kavango is preparing a geophysical survey program at Ditau, which is likely to include Induced Polarisation (IP) surveys targeting pyrite as a proxy for gold.
· The IP survey will initially be run over already identified mineralisation, to trace the wider extension over the i10 Target area.
· Kavango has been given permission to relog two additional diamond drill holes located over the i10 Target area, which were drilled by another company.
· The Botswana Geoscience Institute (BGI) has provided approval for Kavango to take and analyse samples from these holes.
Kavango Resources plc
Ben Turney
bturney@kavangoresources.com
+46 7697 406 06
First Equity (Broker)
+44 207 374 2212
Jason Robertson
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP). Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status. Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.