REG - Kavango Resources - 8.09g/t gold intercepted over 8.05m at Bill’s Luck
22/09/2025 07:02
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250922:nRSV2194Aa&default-theme=true
RNS Number : 2194A Kavango Resources PLC 22 September 2025
PRESS RELEASE
22 September 2025
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
8.09g/t gold intercepted over 8.05m at Bill's Luck
Kavango Resources plc (LSE:KAV), the Southern Africa focused metals
exploration and gold production company, is pleased to announce results from
the first two holes of its previously announced (announced >>> 11
August 2025
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/wk6162x)
) resource drilling programme at Bill's Luck Gold Mine ("Bill's Luck" or the
"Mine") on the Hillside Project ("Hillside"), Zimbabwe.
This drill programme was strategically designed to accelerate the Company's
transition from explorer to larger-scale producer and to unlock the full value
of what is increasingly believed to be a significant mineralised system at
Bill's Luck.
The multiphase resource drilling programme at Bill's Luck has been designed to
try to establish a maiden mineral resource estimate ("MRE") that can inform
future mine planning and scheduling. The programme comprises diamond drilling
and reverse circulation ("RC") drilling, and these results are from the first
two completed diamond drill holes.
Holes BLDD009 and BLDD010 both intersected the "Main Reef" at vertical depths
below surface of 109m and 146m respectively, while confirming the presence of
a parallel "Main Reef" structure that is also mineralised and confirming
additional reefs in the hanging wall and footwall.
Repeat gravimetric assays on intersections above 5 grams a tonne ("g/t")
confirmed BLDD009 best intersection was 13.66g/t over 2.75 metres ("m")* from
134.00m to 136.75m and BLDD010 reported 8.09g/t over 8.05m* from 158.62m to
166.67m.
These are the latest result from Kavango's ongoing surface drilling at Bill's
Luck.
Highlights
· Hole BLDD009 was collared on surface and drilled to a depth of
250.40m to transect interpreted Hangingwall "Reefs", the "Main Reef"
structures and interpreted Footwall "Reefs". Highlights include:
· 5.10g/t over 2.18m from28.00m depth (including 20.5g/t)(the
"Hangingwall Reef").
· 13.66g/t over 2.75m from 134.00m depth (including 46.72g/t over 0.50m
and 24.67g/t over 0.50m) (the "Main Reef").
· 7.87g/t over 2.60m from 209.80m depth (the "Footwall Reef").
· Hole BLDD010 was collared on surface and drilled to a depth of
250.40m to transect interpreted Hangingwall "Reefs", the "Main Reef"
structures and interpreted Footwall "Reefs". Highlights include:
· 3.49g/t over 5.69m from28.90m depth (this intersection comprises two
reefs of 22.01g/t over 0.55m and 10.59g/t over 0.64m with internal dilution
between the reefs and may be mined as two individual reefs or bulk mined at a
lower grade)("Hangingwall Reef").
· 9.31g/t over 1.00m from 85.55m depth (additional "Hangingwall Reef"
structure).
· 8.09g/t over 8.05m from 158.62m depth (including 18.79g/t over 0.63m,
33.76g/t over 1.00m and 30.60g/t over 0.42m) (the "Main Reef").
· 3.03g/t over 3.37m from 171.40m depth (including 8.81g/t over 0.52m
and 6.60g/t over 0.50m) (second structure on "Main Reef").
· 1.01g/t over 0.91m from 236.20m depth (the "Footwall Reef").
· The first intersections in both holes appear to be parallel
anastomosing structures that combine to form a "Hangingwall Reef" target.
· The second intersection appear to be a parallel reef structures that
together form the "Main Reef" structure.
· The third intersections appear to confirm the presence of at least
one "Footwall Reef" structure.
· The gold fire assay grades, including the gravimetric repeat assays
and the distribution between intersections of the same reefs in adjacent holes
also appear to reflect a nugget effect.
* All intersection lengths are measured down hole, modelling of the Bill's
Luck Mine is currently underway, and once complete, true width intersections
will be announced
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
"Surface diamond drilling at Bill's Luck continues to exceed our expectations.
We've now confirmed that the main Bill's Luck ore body continues to at least
160m vertical depth, with multiple high-grade gold intersections throughout
the latest two exploration holes. We are particularly encouraged by the 8.05m
intersection at 158.62m depth that carries 8.09g/t gold.
Kavango is now preparing to continue shaft sinking at Bill's Luck to extend
current mining operations from 3-level to 4-level.
We look forward to proving further updates on our plans to increase gold
production here in the near future."
Oblique view of Main shaft, with BLDD009 and BLDD010 collar position on
surface and gold grades in red with 5g/t scale bar.
Underground Drilling at Bill's Luck
Hole BLDDUG004B and BLDDUG006 were both drilled from Level 2 (995m ASL) at
-55° on azimuths of 010° and 355° respectively to lengths of 75.37m ad
75.48m. They both intersected a gold-bearing structure now considered to be
the "Main Reef" structures, with confirmed assay grades of 11.79g/t over 4.36m
and 12.99 g/t over 10.90m.
The intersected structure appears to be the down dip continuity of the Bill's
Luck Main Reef at surface which are now confirmed by holes BLDD009 and BLDD010
to extend to 160m below surface.
Oblique view of Main shaft, with surface holes BLDD009 & BLDD010 together
with previously reported underground holes BLDDUG004B & BLDDUG006 collared
on level 2 with gold grade in red and a 5g/t scale bar.
Announcing Future Drill Results
Moving forward, Kavango will announce future drill results in aggregate after
full phases of drilling have been completed. This will allow the Company to
present more comprehensive interpretation.
Kavango's Operations in Zimbabwe
Kavango is exploring for gold deposits in Zimbabwe that have the potential to
be developed into commercial scale production quickly through modern
mechanised mining and processing. The Company is targeting both open-pit and
underground opportunities.
Kavango has two projects on the Filabusi greenstone belt, Hillside and Nara.
Kavango owns 100% of the Hillside Gold Project, having exercised its option in
April 2024. Here, the Company has three high priority targets it aims to bring
into production over the next 18 months: Bill's Luck, Steenbok and Nightshift.
At Nightshift, Kavango is investigating the potential for a selective open-pit
mining operation, followed by underground mechanised mining. Meanwhile, at
Steenbok, Kavango is pursuing a high-grade mechanised underground mining
opportunity. Kavango is currently analysing the latest drill data from Bill's
Luck and will provide an update shortly.
In addition, Kavango owns 100% of the Nara Gold Project, having exercised its
option in June 2025. Here, the Company is exploring for a large-scale,
mechanisable underground gold deposit. The primary target zone is around the
historic N1 mine, where the Company is assessing the potential to expand
artisanal workings both at depth and along strike.
Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com
(http://www.kavangoresources.com/) and on X at @KavangoRes.
For further information, please contact:
Kavango
Resources plc
Ben Turney
+46 7697 406 06
Shard Capital (Broker)
Damon Heath
+44 (0) 207 186 9952
BlytheRay (Financial PR)
Tim Blythe/Megan Ray/Said Izagaren
kavango@blytheray.com (mailto:kavango@blytheray.com)
Tel: +44 207 138 3204
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geology
and exploration have been compiled by Mr David Catterall, a Competent Person
and a member of a Recognised Professional Organisations (ROPO). David
Catterall has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC 2012). David is the principal geologist at
Tulia Blueclay Limited and a consultant to Kavango Resources. David Catterall
is a member of the South African Council for Natural Scientific Professions, a
recognised professional organisation.
Kavango Resources plc Sampling Techniques and Data for Hillside Project Diamond Drilling. Zimbabwe
Last updated: 19 August 2025
(Criteria in this section apply to all succeeding sections)
JORC Code. 2012 Edition - Table 1 report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques Nature and quality of sampling (e.g. cut channels. random chips. or specific · The information in this release relates to the technical details from
specialised industry standard measurement tools appropriate to the minerals the Company's exploration and drilling program at Hillside Project which lies
under investigation. such as down hole gamma sondes. or handheld XRF within the Filabusi Greenstone Belt, Matabeleland, Zimbabwe.
instruments. etc). These examples should not be taken as limiting the broad
meaning of sampling. · Surface Diamond drilling (HQ & NQ) was carried out and half core
samples were taken from the entire hole.
· Core was cut into two using a commercial core saw adjacent to the Ori
line to produce two splits as mirror images with regards to igneous textures,
sedimentary bedding where possible structural fabric.
· Underground Diamond drilling (AXT - 30.5mm) was carried out and full
core samples were taken from the entire hole.
· No orientation was possible on the underground drill core.
· Samples were taken based on geological contacts, and/or of up to
approximately 1m in length. The minimum sample width is 30cm to cater for
distinct quartz veins which may be diluted and obscured if 1m widths were to
be maintained.
· Reverse Circulation drilling was also carried out, with representative
samples split on site after individual 1m samples were collected from the
cyclone.
· Two samples were taken using a riffle splitter from the original 1m
sample.
· Core samples were submitted for a 25g fire assay with AAS finish. to
Performance Laboratories (Pvt) Ltd., at Harare, Zimbabwe.
· All samples >5g/t are repeated using a gravimetric finish.
· Selected samples will be sent to a check lab, ALS laboratories,
Johannesburg, for referee fire assay comparison.
· Kavango routinely takes pXRF readings along the core using an Olympus
Vanta on Geochem 3 beam mode for 60 seconds.
Include reference to measures taken to ensure sample representivity and the · All Kavango's drill samples were geologically logged by suitably
appropriate calibration of any measurement tools or systems used qualified geologists on site.
· Sample representativity was ensured where possible by drilling
perpendicular to structures of interest, and by the sample preparation
technique in the laboratory.
· The entire borehole was sampled based on geological logging, with the
ideal sampling interval being representative of lithology for diamond core.
· Individual samples are weighed at the field camp.
· Upon arrival at Performance lab, the samples are dried at +/- 105
degrees Celsius for 8 to 12 hours.
· The entire sample is crushed to 100% passing 4.75mm. The crushers
have inline rotary splitters that split off 500g of sample that is pulverized.
· The 500g split is pulverized in a Rocklabs pot and puck pulveriser
with 85% passing minus 75μm.
· A standard 25g aliquot is used for Fire Assay.
· Following industry best practice. a series of certified reference
materials (CRM's), duplicates and blanks were included for QAQC as outlined
further below.
Aspects of the determination of mineralisation that are Material to the Public
Report.
In cases where 'industry standard' work has been done this would be relatively
simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from
which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other
cases. more explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or mineralisation
types (e.g. submarine nodules) may warrant disclosure of detailed information.
Drilling techniques Drill type (e.g. core. reverse circulation. open-hole hammer. rotary air · The surface diamond drill holes were drilled using a diamond drill
blast. auger. Bangka. sonic. etc) and details (e.g. core diameter. triple or operated by Equity Drilling Limited.
standard tube. depth of diamond tails. face-sampling bit or other type.
whether core is oriented and if so. by what method. etc). · Equity uses HQ and NQ diameter conventional core barrels.
· The underground diamond drill holes were drilled by DHB drilling,
Zimbabwe using AXT core barrels.
Drill sample recovery Method of recording and assessing core and chip sample recoveries and results · Core recovery was monitored closely throughout from all diamond and RC
assessed. drilling programmes.
· Recovery in rock was >95%.
· Any voids were noted.
Measures taken to maximise sample recovery and ensure representative nature of · Samples prepared for assay are taken consistently from the same side of
the samples. the core cutting line to avoid bias.
· Geologists frequently check the core cutting procedures to ensure the
core cutter splits the core correctly in half.
· Underground diamond drill cores were not split and the whole core was
sampled and submitted for assay
· Core samples for assay are selected within logged geological,
structural, mineralisation and alteration constraints.
· Chip samples were weighed to asses recovery against a theoretical
average recovery for a 1m sample in these lithologies with given SG.
· Diamond drill core samples are collected from distinct geological
domains with sufficient width to avoid overbias.
· RC chip samples were collected every 1m.
Whether a relationship exists between sample recovery and grade and whether · For both Diamond and RC drilling the sample recoveries was generally
sample bias may have occurred due to preferential loss/gain of fine/coarse very good and as such it is not expected that any such bias exists.
material.
Logging Whether core and chip samples have been geologically and geotechnically logged · Kavango's Diamond drill core and RC drill chips are logged by a
to a level of detail to support appropriate Mineral Resource estimation. team of qualified geologists using predefined lithological, mineralogical,
mining studies and metallurgical studies. physical characteristic (colour, weathering etc) and logging codes.
· Diamond drill core was marked up on site and Geotechnical logging was
completed at the rig to ensure recoveries were adequately recorded.
· Lithological, structural, alteration and mineralisation are logged at
camp.
· The core is securely stored at the base camp.
· The geologists on site follow industry best practice and standard
operating procedure for logging and handling all diamond drill core and RC
drill chips.
· The core is photographed wet and dry.
· pXRF and magnetic susceptibility data are routinely captured from
Diamond drill core and RC drill chips, every 0.5m to 1m.
· Density measurements for drill core were determined by Archimedes
density measurements i.e. using a precision balance to weigh sample in air and
in submerged in water. A representative piece of core was selected from each
sample for density measurement.
· The QA/QC compilation of all logging results are stored and backed up
on a data cloud.
Whether logging is qualitative or quantitative in nature. Core (or costean. · All logging is conducted in accordance with Kavango's SOP and
channel. etc) photography. standard published logging charts and classification for grain size,
abundance, colour and lithologies to maintain a qualitative and
semi-quantitative standard based on visual estimation.
· Magnetic susceptibility readings are also taken every metre and/or
half metre using a ZH Instruments SM-20/SM-30 reader.
· All core drilled was photographed wet and dry according to industry
best practice.
· All RC drill chips have a portion retained in chip trays for
follow=up work and to maintain a representative sample.
The total length and percentage of the relevant intersections logged. · 100% of all recovered intervals are geologically logged.
Sub-sampling techniques and sample preparation If core. whether cut or sawn and whether quarter. half or all cores taken. · Selected diamond core intervals are cut in half with a commercial
core cutter. using a 2mm thick blade
· One half is sampled for analysis while the other half is kept for
reference.
· Some of the retained half core is submitted for metallurgical test
work.
· For selected petrographic samples core is quartered.
· Underground diamond drill cores are not cut and the whole core is
sampled and submitted for assay.
For all sample types. the nature. quality and appropriateness of the sample · Field sample handling and preparation is suitable for all drilling
preparation techniques methods utislised.
· RC samples are weighed at site as they come off the cyclone and every
effort is made to ensure each metre sample is representative of the length
drilled, with proportional volume and weight recorded.
· The laboratory sample preparation technique is considered appropriate
and suitable for the core samples and as well as for the expected grades.
Quality control procedures adopted for all sub-sampling stages to maximise · Kavango's standard field QAQC procedures for drilling samples include
representivity of samples. the field insertion of blanks, an appropriate selection of standards, field
duplicates, replicates, and selection of requested laboratory pulp and coarse
crush duplicates.
· These are being inserted at a rate of 2.5- 5% each to ensure an
appropriate rate of QAQC.
Measures taken to ensure that the sampling is representative of the in-situ · Sampling is deemed appropriate for the type of survey and equipment
material collected. including for instance results for field used.
duplicate/second-half sampling.
· Quarter diamond core duplicates are occasionally submitted to help
with understanding gold distribution and nugget effect. This could potentially
bias the sample due to the nugget effect and vein hosted nature of the
mineralisation and would reduce the sample volume. However, for resource
calculations the quarter cores results are recombined to give an
averagedresult.
· Laboratory duplicates are produced from the crushed and milled core.
· RC samples are split to provide representative duplicate samples
using a commercial riffle splitter.
Whether sample sizes are appropriate to the grain size of the material being · On occasions gold from this project may be coarse, therefore, some
sampled. nugget effect is expected. This is minimised by using the largest diameter of
core possible with the available equipment, and by utilising halved rather
than quartered core for assay.
Quality of assay data and laboratory tests The nature. quality and appropriateness of the assaying and laboratory · A company audit was made of the assay laboratory in this case
procedures used and whether the technique is considered partial or total. Performance Laboratories before it was engaged.
· The digest and fire assay technique provide a total analysis method.
· Between 5% and 20% of submitted samples consisted of additional blank,
duplicate (lab duplicate from splitting the pulp), and standard samples.
· Round robin and accreditation results for the laboratory were reviewed
and considered acceptable.
· The company's QAQC samples, including standards, are considered to
confirm acceptable bias and precision with no contamination issues identified.
For geophysical tools. spectrometers. handheld XRF instruments. etc. the · Kavango use ZH Instruments SM20 and SM30 magnetic susceptibility
parameters used in determining the analysis including instrument make and meters for measuring magnetic susceptibilities and readings are randomly
model. reading times. calibrations factors applied and their derivation. etc. repeated to ensure reproducibility and consistency of the data.
· An Olympus Vanta C-series pXRF instrument is used in 3-beam
geochemical mode with reading times of 60 seconds in total. Measurements are
taken on clean dry core.
· For the pXRF results no user factor was applied as per Kavango's
SOP. The units are calibrated daily with their respective calibration disks.
· In the case of multiple pXRFs the data will be collated and user
factors calculated to ascertain their effectiveness.
Nature of quality control procedures adopted (e.g. standards. blanks. · All QAQC samples were reviewed for precision and accuracy. Results
duplicates. external laboratory checks) and whether acceptable levels of were deemed repeatable and representative:
accuracy (i.e. lack of bias) and precision have been established.
· For pXRF appropriate certified reference materials are inserted on a
ratio of 1:25 samples.
· Repeat readings are taken every 25 samples. and blank samples are
inserted every 25 samples.
· QAQC samples are reviewed for consistency.
· pXRF CRM values show a slight positive bias. including for Cu.
· At low levels (<10ppm) silver values in particular are scattered.
· When laboratory assay results are received blank, standard, and
duplicate values are reviewed to monitor lab performance.
· Select low, moderate and high-grade assay samples are selected,
re-labelled and re-submitted to Performance to assess repeatability.
· Select low, moderate and high-grade assay samples will also be sent
for check analysis at an internationally accredited laboratory.
· Performance Lab insert their own CRM's, duplicates and blanks and
follow their own SOP for quality control.
· Performance Laboratories are locally accredited but not
internationally accredited.
· Kavango is aware of this and carries out exhaustive QAQC checks and
works with Performance to ensure accuracy and repeatability.
· A series of samples, including one entire hole from twinned pair have
been sent to Performance in Zimbabwe and ALS Laboratories in South Africa,
with acceptable results
· Further external referee laboratory checks will be carried out as and
when sufficient holes have been drilled to warrant.
Verification of sampling and assaying The verification of significant intersections by either independent or · All drill core intersections were verified by peer review.
alternative company personnel.
· The Company's internal CP reviewed sampling and has visited site and
the laboratory to verify protocols.
· Assay data was received as assay certificates and cross checked
by an independent CP against sample submission data to ensure a correct match.
The use of twinned holes. · In previous drilling at Bills Luck, one hole was abandoned, and
the follow-up hole was designed as a twin.
Documentation of primary data. data entry procedures. data verification. data · All data is electronically stored with peer review of data
storage (physical and electronic) protocols. processing and modelling.
· Data entry procedures standardized in SOP data checking and
verification routine.
· Data storage is on a cloud storage facility with access controls
and automatic backups.
Discuss any adjustment to assay data. · No adjustments were made to assay data.
Location of data points Accuracy and quality of surveys used to locate drill holes (collar and · Kavango's surface drill collar coordinates are captured by using
down-hole surveys). trenches. mine workings and other locations used in handheld Garmin GPS and verified by a second handheld Garmin GPS.
Mineral Resource estimation.
· Drill holes are routinely re-surveyed with differential DGPS at
regular intervals to ensure sub-metre accuracy as and when sufficient holes
warrant.
· Downhole surveys of drill holes were done using an AXIS Champ Mag
tool or the Champ Gyro (for DTH).
· Underground drill holes are surveyed by a qualified underground
surveyor using measured in pegs.
Specification of the grid system used. · The grid system used is UTM 35S Arc 1950. All reported coordinates
are referenced to this grid.
Quality and adequacy of topographic control. · Topographic control is based on satellite survey data collected at
30m resolution. Quality is considered acceptable.
Data spacing and distribution Data spacing for reporting of Exploration Results. · Data spacing and distribution of all survey types is deemed
appropriate for the type of survey and equipment used.
Whether the data spacing. and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the Mineral Resource · The drilling programs are designed to target the multiple
and Ore Reserve estimation procedure(s) and classifications applied. interpreted parallel auriferous veins at the Bills Luck Mine on the Prospect
Claims.
Whether sample compositing has been applied. · No composite samples have been done
Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible · Drill spacing is currently variable but is considered appropriate
structures and the extent to which this is known. considering the deposit for this stage of exploration.
type.
· Hole orientation is designed to intersect the target structures
as perpendicular as is practical.
· This is considered appropriate for the geological setting and for
the known mineralisation styles.
If the relationship between the drilling orientation and the orientation of · Existence, and orientation of preferentially mineralised
key mineralised structures is considered to have introduced a sampling bias. structures is not yet fully understood but current available data indicates
this should be assessed and reported if material. mineralisation occurs within steep. sub-vertical structures, with the
possibility of plunging "ore-shoots".
· The drillholes are inclined towards the target, which is
understood to dip towards the drillhole at a steep angle (actual geometry to
be confirmed by a second hole on section in the future).
· The relatively short sample length (typically 1 m) allows for
relatively accurate localization of mineralisation.
· No significant sampling bias is therefore expected.
Sample security The measures taken to ensure sample security. · Diamond core is stored together in a secure facility at the field
office.
· Sample bags are logged, tagged, double bagged and sealed in plastic
bags stored at the field office.
· Samples are stored in a locked company compound at site and in a
locked container in Bulawayo. They are shipped onwards to the analytical
facility by a reliable commercial courier.
· Sample security includes a chain-of-custody procedure that consists
of filling out sample submittal forms that are sent to the laboratory with
sample shipments to make certain that all samples are received by the
laboratory.
· Prepared samples are transported to the analytical laboratory in
sealed bags that are accompanied by appropriate paperwork. including the
original sample preparation request numbers and chain-of-custody forms.
Audits or reviews The results of any audits or reviews of sampling techniques and data. · The CP has visited both site and the laboratory utilised and considered
practices and SOPs at both as acceptable.
· The CP reviewed all data and spot-checked significant values versus
certificates.
JORC Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status Type. reference name/number. location and ownership including agreements or · The Hillside Project consists of 44 gold claims.
material issues with third parties such as joint ventures. partnerships.
overriding royalties. native title interests. historical sites. wilderness or · Kavango entered into an option agreement with the vendors, dated 25
national park and environmental settings. July 2023.
The security of the tenure held at the time of reporting along with any known · This was exercised on 23 April 2024 with respect to Hillside and
impediments to obtaining a licence to operate in the area. Leopard South.
· Leopard North remains subject to a call option valid to June 2025.
· Transfer of the Claims is presently underway.
· More details are provided here
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w9nq44r
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w9nq44r)
Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. · The project contains a historic high-grade mine Bills Luck, which has
a history of intermittent gold production from 1916 to 1950, yielding 17,000
oz at an average grade of 7.7g/t. After 1950, the mine saw only small-scale
sand retreatment and surface workings.
· It is currently being mined by artisanal miners, who are under
contract, milling the ore at Bill's Luck stamp mill.
Geology Deposit type. geological setting and style of mineralisation. · Bills Luck lies near the southern contact of the Filabusi gold belt
and the Bulawayan Basement Schists. Younger intrusive granites bound it to the
north.
· Gold mineralization appears to be associated with multiple sub
parallel quartz veins that occur in fine grained massive sheared granite.
· The general azimuth of the auriferous veins is 110(o) TN (dipping
steeply to the NNE)
· Bills Luck, which has a history of intermittent gold production from
1916 to 1950, yielding 17,000 oz at an average grade of 7.7g/t. After 1950,
the mine saw only small-scale sand retreatment and surface workings.
Drill hole Information A summary of all information material to the understanding of the exploration · Summary table of all completed Kavango drill holes that form the focus
results including a tabulation of the following information for all Material of the current program is presented below.
drill holes:
· The holes were surveyed and sited using a handheld GPS
easting and northing of the drill hole collar
· Upon completion of drilling a DGPS survey was completed by professional
elevation or RL (Reduced Level - elevation above sea level in metres) of the surveyors.
drill hole collar
· Position format: UTM UPS; Map datum Arc 1950 Zone 35S.
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the
information is not Material, and this exclusion does not detract from the
understanding of the report. the Competent Person should clearly explain why
this is the case.
Hole_ID East North RL Dip Azimuth Depth EOH
BLDD001 728726.67 7733796.21 1045.32 -65.00 206.00 196.400 196.350
BLDD002 728727.89 7733803.96 1045.50 -65.00 194.00 160.400 160.400
BLDD003 728885.56 7734061.32 1044.07 -65.00 190.00 382.400 382.400
BLDD004 728726.00 7733804.00 1045.00 -70.00 20.00 379.400 379.400
BLDD005 728624.79 7733709.55 1050.40 -60.00 61.00 352.200 352.200
BLDD006 728572.01 7733694.23 1051.66 -60.00 45.00 361.200 361.200
BLDD007 728576.98 7733900.81 1047.92 -60.00 214.00 361.820 361.300
BLDD008 728400.20 7733807.28 1049.55 -65.00 40.00 369.300 369.300
BLDD009 728576.00 7733900.00 1050.00 -55.00 213.00 250.400 250.400
BLDD010 728576.00 7733900.00 1050.00 -64.65 212.00 250.400 250.400
BLDD011 728568.35 7733918.24 1050.00 -55.00 213.00 250.400 250.400
BLDD012 728568.35 7733918.24 1050.00 -66.00 213.00 250.300 250.300
BLDD013 728598.70 7733896.40 1050.00 -55.00 213.00 250.000 250.350
BLDD014 728598.70 7733896.40 1050.00 -60.00 213.00 255.200 255.200
BLDD015 728526.51 7733922.29 1050.00 -55.00 213.00 133.400 133.400
BLDD016 728526.51 7733922.29 1050.00 -60.00 213.00 250.400 250.400
BLDD017 728620.08 7733885.24 1048.16 -55.00 213.00 300.000 300.000
BLDD018 728620.08 7733885.24 1048.16 -60.00 213.00 300.300 300.300
BLDD019 728511.01 7733936.18 1051.07 -60.00 213.00 147.000 147.000
BLDD020 728556.13 7733922.49 1050.07 -70.00 213.00 300.000
BLDD021 728631.54 7733879.35 1048.21 -55.00 213.00 250.000
BLDD022 728631.54 7733879.35 1048.21 -60.00 213.00 250.000
BLDD023 728652.20 7733857.34 1048.93 -55.00 213.00 304.400 304.400
BLDD024 728652.20 7733857.34 1048.93 -60.00 213.00 250.000
BLDDGT001 728578.41 7733815.96 1050.78 -50.00 261.00 201.150 201.150
BLDDGT002 728574.09 7733765.03 1050.87 -50.00 340.00 75.150 75.150
BLDDGT002B 728588.00 7733713.00 1050.00 -50.00 340.00 261.150 261.150
BLDDUG001 728552.00 7733818.00 995.00 5.00 28.00 49.040 49.040
BLDDUG002 728570.00 7733810.00 995.00 5.00 22.00 48.780 48.780
BLDDUG003 728570.00 7733810.00 996.00 -45.00 22.00 49.500 49.500
BLDDUG004 728542.00 7733802.00 994.00 -55.00 10.00 41.720 41.720
BLDDUG004B 728541.00 7733801.00 995.00 -55.00 10.00 75.480 75.480
BLDDUG005 728513.00 7733790.00 995.00 -55.00 20.00 74.140 74.140
BLDDUG006 728541.00 7733801.00 995.00 -55.00 355.00 75.370 75.370
BLDDUG007 728570.00 7733810.00 995.00 -50.00 342.00 63.470 63.470
BLDDUG008 728552.00 7733822.00 970.00 5.00 27.00 74.660 74.660
BLDDUG009 728513.00 7733790.00 995.00 -50.00 340.00 62.390 62.390
BLDDUG010 728512.50 7733790.00 995.00 -50.00 60.00 28.190 28.190
BLDDUG010B 728511.50 7733791.00 995.00 -50.00 60.00 68.400 68.400
BLDDUG011 728513.00 7733790.00 995.00 -55.00 340.00 64.040 64.040
BLDDUG012 728570.00 7733810.00 995.00 -50.00 65.00 65.000
BLDDUG013 728542.00 7733804.00 994.00 -50.00 245.00 46.170 46.170
Data aggregation methods In reporting Exploration Results. weighting averaging techniques. maximum · Outstanding results will be reported as and when they are available
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off and have been reviewed for QAQC and used for interpretation
grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high-grade results and
longer lengths of low-grade results. the procedure used for such aggregation
should be stated and some typical examples of such aggregations should be
shown in detail.
The assumptions used for any reporting of metal equivalent values should be
clearly stated.
Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration · Down hole intersection widths are used throughout.
Results.
· Most of the drill intersections are into steep to vertically dipping
If the geometry of the mineralisation with respect to the drill hole angle is units. True thickness is presently unknown and will be determined based on
known. its nature should be reported. additional drilling.
If it is not known and only the down hole lengths are reported. there should · All measurements state that downhole lengths have been used as the true
be a clear statement to this effect (eg 'down hole length. true width not width cannot yet be established by the current drilling.
known').
· Due to the structural control on the mineralisation and the
anastomosing nature of the shears, together with an inferred plunge more
drilling is required to provide accurate measurements for true thickness
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts · N/A
should be included for any significant discovery being reported These should
include. but not be limited to a plan view of drill hole collar locations and
appropriate sectional views.
Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable. · All completed holes are logged, sampled and dispatch as soon as
representative reporting of both low and high grades and/or widths should be possible.
practiced to avoid misleading reporting of Exploration Results.
· Outstanding results are reported as and when they are available and
have been reviewed for QAQC and used for interpretation
Other substantive exploration data Other exploration data. if meaningful and material. should be reported · Geophysical work has been done previously, comprising Gradient Array IP
including (but not limited to): geological observations; geophysical survey and Stacked Schlumberger Sections
results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density. groundwater. geotechnical · A regional structural mapping programme has been completed and included
and rock characteristics; potential deleterious or contaminating substances. detailed structural analysis of portions of specific holes.
· Further structural work is scheduled
Data aggregation methods
In reporting Exploration Results. weighting averaging techniques. maximum
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off
grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high-grade results and
longer lengths of low-grade results. the procedure used for such aggregation
should be stated and some typical examples of such aggregations should be
shown in detail.
The assumptions used for any reporting of metal equivalent values should be
clearly stated.
· Outstanding results will be reported as and when they are available
and have been reviewed for QAQC and used for interpretation
Relationship between mineralisation widths and intercept lengths
These relationships are particularly important in the reporting of Exploration
Results.
If the geometry of the mineralisation with respect to the drill hole angle is
known. its nature should be reported.
If it is not known and only the down hole lengths are reported. there should
be a clear statement to this effect (eg 'down hole length. true width not
known').
· Down hole intersection widths are used throughout.
· Most of the drill intersections are into steep to vertically dipping
units. True thickness is presently unknown and will be determined based on
additional drilling.
· All measurements state that downhole lengths have been used as the true
width cannot yet be established by the current drilling.
· Due to the structural control on the mineralisation and the
anastomosing nature of the shears, together with an inferred plunge more
drilling is required to provide accurate measurements for true thickness
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts
should be included for any significant discovery being reported These should
include. but not be limited to a plan view of drill hole collar locations and
appropriate sectional views.
· N/A
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable.
representative reporting of both low and high grades and/or widths should be
practiced to avoid misleading reporting of Exploration Results.
· All completed holes are logged, sampled and dispatch as soon as
possible.
· Outstanding results are reported as and when they are available and
have been reviewed for QAQC and used for interpretation
Other substantive exploration data
Other exploration data. if meaningful and material. should be reported
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density. groundwater. geotechnical
and rock characteristics; potential deleterious or contaminating substances.
· Geophysical work has been done previously, comprising Gradient Array IP
and Stacked Schlumberger Sections
· A regional structural mapping programme has been completed and included
detailed structural analysis of portions of specific holes.
· Further structural work is scheduled
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END PFUKZGZLKZDGKZG
Copyright 2019 Regulatory News Service, all rights reservedRecent news on Kavango Resources
See all newsREG - Kavango Resources - Change of Registered Address
AnnouncementRCS - Kavango Resources - VFEX Listing Ceremony Livestream
AnnouncementREG - Kavango Resources - 8.09g/t gold intercepted over 8.05m at Bill’s Luck
AnnouncementREG - Kavango Resources - Unaudited Interim Results
AnnouncementREG - Official List - Official List Notice
Announcement