Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the recommencement of drill operations on Hole KSZDD002.
On Friday 14 January, Mindea Exploration and Drilling Pty (“Mindea”) mobilised the rig and drill team back to site. Over the weekend the team successfully removed the HQ casing that was left in the hole prior to Christmas to keep KSZDD002 open. Drilling is scheduled to commence during today’s day shift. Operations will then continue on double shift until completion.
KSZDD002 has been designed to intercept the B1 Conductor, a geophysical anomaly that the Company believes is a prospective target for possible massive sulphide nickel or copper mineralisation.
Kavango first identified the B1 Conductor in Q2 2021 (announced 02 July) through a surface Time Domain Electromagnetic (“TDEM”) survey. Independent data analysis at the time confirmed the B1 Conductor gave a conductance reading of 8,200Siemens. For context, the Company’s exploration model is based on identifying drill targets, which exhibit conductance readings between 1,000Siemens and 10,000Siemens (a table can be found here on the Company’s website – https://kavangoresources.com/images/2021/07/02/idealized-resistivity-and-conductivity-spectrum-for-rocks-and-mineralization-kav-ksz.jpg).
Drilling commenced on KSZDD002 on 19 November 2022, with an expected target intercept depth of between 525m and 575m for the B1 Conductor.
Drilling was paused for the Christmas break at 350m. A downhole electromagnetic (“DHEM”) survey was completed on KSZDD002 and the hole was cased off. Independent analysis of the DHEM data increased the estimated conductance reading of the B1 Conductor to 11,000Siemens. KSZDD002 appears to be optimally positioned to intercept the centre of the conductive plate. The B1 Conductor is now estimated to be 600m by 300m in size. The position and dip of the plate remain the same, indicating the B1 Conductor is cross-formational. This suggests the B1 Conductor may have been emplaced by an as yet unspecified intrusive event and is unlikely to be formational.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
First Equity (Joint Broker)
+44 207 374 2212
SI Capital Limited (Joint Broker)
+44 1483 413500