Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to report the Company has successfully completed an initial downhole electromagnetic (“DHEM”) survey on Hole TA2DD002 to a depth of 780m. The DHEM survey has identified the upper edge of a conductive anomaly in the Proterozoic gabbro (the “Conductive Anomaly”).
The Company and external consultants have completed preliminary analysis of data gathered from the DHEM survey and also reinterpreted existing data from previous airborne surveys conducted by Kavango. The original modelling from this airborne data guided the decision to continue drilling Hole TA2DD002 into the Proterozoic.
Hole TA2DD002 was the second hole of the current drill campaign in the Company’s Kalahari Suture Zone (“KSZ”) Project.
- DHEM survey of TA2DD002
- TA2DD002 completed to a depth of 1,001m, within 1 degree of original target
- 350m of continuous altered Proterozoic-age core recovered from 651m to 1,001m, the single largest amount ever retrieved from the KSZ
- Initial DHEM completed in early October to a depth of 780m (using the available winch)
- Spectral Geophysics (“Spectral”) has secured a 1,500m winch to complete a follow up DHEM survey to the bottom of TA2DD002
- Preliminary analysis of DHEM survey suggests:
- Late-time data from 760m to 780m indicates the Conductive Anomaly exists within 300m of the DHEM survey’s completion
- The Conductive Anomaly appears to reside within the Proterozoic gabbro
- Kavango will provide images of the DHEM interpretation on its website
- Reinterpretation of Kavango’s aeromagnetic model (the “Aeromagnetic Model”)
- The Aeromagnetic Model was completed in 2020, using data from the Company’s regional airborne surveys flown in 2018 and 2019
- The Aeromagnetic Model accurately predicted the intersection of TA2DD002 with the Proterozoic gabbro at 650m
- Reinterpretation of the the Aeromagnetic Model confirms that:
I. Proterozoic rocks are the source of the main magnetic anomaly identified from aeromagnetic surveys
II. The extent of Proterozoic can be mapped using aeromagnetic surveying
– Spectral to conduct DHEM survey to the end of TA2DD002
– DHEM survey to be conducted on KSZDD001, once Target Depth has been reached (drilling operations are ongoing here)
– Thorough analysis of all DHEM data, to include consultation with independent experts
– Updating of the Company’s magenetic susceptibility model, to take into account latest drilling results, with a particular focus on confirming potentially shallower Proterozoic depths
– A full update will be provided, on completion of the updated geophysical modelling of the northern (Hukuntsi) section KSZ
– Kavango to host a shareholder webinar to present full results with supporting images and maps (details to be confirmed)
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Hard work, intelligent application of geophysics, skilled drilling and a bit of luck have brought us to this point.
While the Proterozoic is now our primary exploration focus in Target Area A, it is important to note that the Karoo remains our main focus in Target Area B (where we are currently drilling Hole KSZDD001).
There is still much for us to do, but we have definitive exploration leads, backed by physical core data from the ongoing drill campaign . This data should help constrain future modeling and will hopefully significantly improve results to guide our evolving exploration strategy in the KSZ.
Now that Spectral Geophysics has secured a winch that is long enough to carry the probe to the bottom of TA2DD002, we eagerly await the outcome of the 1,000m downhole electromagnetic survey. We will report more on this, once we have completed thorough analysis of any data we gather. “
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.comand 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