Kavango Resources (LSE:KAV) sat at 2.9p on Monday morning after revealing ‘extremely encouraging’ initial drilling results at the Ditau prospect on its Kalahari Suture Zone (KSZ) project in Botswana.

The firm said the first hole drilled at the site encountered a 200m zone of intensely altered rock holding a 70m area containing significant sulphide alteration. This presented indicative cobalt values of up to 0.9pc and a weighted average of 0.2pc cobalt alongside elevated copper, zinc, lead, and nickel values. Kavango’s chief executive Michael Foster said this is ‘suggestive of mineralisation at depth’.

The core from the hole – which is called DitDDH1 – will now be sent to an accredited international laboratory for geochemical analysis and assay. Kavango will release final assay results when they become available.

The business has now begun drilling a second hole called DitDDH2 on a second conductive body based 1.8km east of its first target. Elsewhere, Kavango has now drilled a water well at Ditau to facilitate drilling and remove the need to cart water over long distances.

Foster added: ‘This hole is already advancing to plan and is benefitting from the new water well. We will continue to announce further drilling results from Ditau in a timely fashion.’

Kavango holds 15 prospecting licences covering 9,231km2 of ground in Botswana, including most of the 450km long Kalahari Suture Zone (KSZ) magnetic anomaly in the southwest of the country.  Here, it is exploring for copper, nickel, and platinum group element-rich sulphide orebodies. Kavango’s co-founder Mike Moles recently authored a piece for MiningMaven on how these formations occur and why the firm is keen to locate them, which can be found here.

The KSZ is yet to be examined using modern drilling techniques. However, Kavango argues that it has a similar geological setting to the giant Norilsk copper/nickel deposits in Siberia. Speaking last year, Moles said that Kavango only needs to find one sulphide deposit on the KSZ deposit to demonstrate its prospectivity and that the Norilsk model is applicable.

The business announced that it was launching an initial 1,000m drill programme at Ditau at the end of January. This has been designed to intersect two ‘very compelling’ coincident geophysical and geochemical base metal conductor/anomalies.

The anomalies extend north-south for at least 4km and are coincident with zinc in soil anomalies at the surface. Zinc acts a pathfinder for potential base metal mineralisation at depth because it is the most mobile of the base metal elements.

Meanwhile, the company has mobilised the second phase of an airborne electromagnetic survey over its remaining licences in the KSZ. The airborne EM survey detects and prioritises potential locations for these sulphide deposits, which Kavango can then follow up with more detailed groundwork and drilling.

Flying for the second phase of the survey began towards the end of February and is expected to take between four to six weeks to complete. It will cover up to 2,062 line-kilometres in the Hukunstsi area of Botswana.

 

A map showing Kavango’s licences in Botswana’s Kalahari Suture Zone

 

Author: Daniel Flynn

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