Kavango Resources (LON: KAV) and Power Metal Resources (LSE:POW) on Monday unveiled yet more encouraging results from their South Ghanzi project in the Kalahari Copper Belt.
Airborne Electromagnetic (“AEM”) surveys at South Ghanzi previously defined “seven kilometre-scale conductors” at South Ghanzi. Targets Acacia and Morula are the highest priority short term, with Acacia previously top of the list.
Now, as a result of these latest highly encouraging results, Morula has overtaken Acacia to become the 50/50 joint venture’s (JV) highest priority target for exploration.
As soon as the JV partners obtain the necessary Environmental Management Plan (“EMP”) for South Ghanzi, drilling at Morula will begin.
The latest sampling involved four 4km-long sample lines spaced 1km apart, sampled every 100m.
Work found anomalous copper levels, from all soil sample lines, of between 35 parts per million (“ppm”) and 68ppm, as well as anomalous zinc levels of between 59ppm and 111ppm.
These new readings closely correlated with results from seven original soil-sampling lines at South Ghanzi.
Impressively, samples confirmed that the conductor/anomaly at Morula extends at least 12km along strike.
This “clearly defined mineralised zone” is on a south-westerly trend and runs parallel to two steep anticlinal structures. It is open in both directions along strike.
The JV partners are now working to assess optimal locations for drilling at Morula and Acacia, where targets look to be near the surface and have “minimal Kalahari sand cover”.
Estimated intercept depths for drilling are between 120m and 200m.
Well researched targets
Until Morula, Acacia was the highest priority target for drilling at South Ghanzi. Acacia is located on Prospecting Licence (“PL”) 036/2020’s northern boundary, inside an interpreted fold “nose”.
In geology, a fold is when factors like heat, stress, and pressure cause rocks to bend or flex. Folds can have a “nose”, a curved shape at the fold’s tip where metals often accumulate.
Soil geochemistry over the anomaly shows highly elevated copper levels of more than 42ppm and zinc of more than 75ppm.
Morula, meanwhile, is an estimated 2km wide, with its at least 12km of strike following a south-westerly ttend along PL 036’s central backbone.
The target was discovered by extending soil sampling lines south of Acacia, and is “supported by a well-defined AEM linear conductor”.
Through geological mapping, the JV parties have found evidence that Morula is the mineralised sheares southern limb of the Acacia fold.
Initial drilling depths for Morula are thought to be less than 200m, based on AEM profiles showing relatively shallow mineralisation.
The two companies have made plans to transfer the PLs for South Ghanzi into Kanya Resources, their recently established Botswana JV company. Looking ahead, the two intend to float Kanye on a recognised stock exchange.
Kavango chief executive Michael Foster said “Morula is rapidly developing into one of the most exciting drill targets in our entire portfolio”, noting that the company plans to start drilling “as soon as we can, after we have received approval of our EMP”.
Paul Johnson, Power Metal’s chief executive, commented on “the substantial opportunity the Kalahari Copper Belt offers for major base metal discoveries”.
He pointed out that, during his time as chief executive of Kalahari Copper Belt explorer Metal Tiger (LON: MTR) in 2016, “we followed a similar exploration methodology”.
That same methodology led to the discovery of the T3 Deposit, a “transformational” discovery for Metal Tiger and its shareholders.
“The exploration datasets from South Ghanzi have delineated very strong drill targets and I am very much looking forward to the commencement of a programme of drill testing at the Project,” Johnson concluded.
Author: Anna Farley
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