REG - Kavango Resources - BOTS – Priority KCB Copper Targets identified

Kavango ResourcesAnnouncement

31/05/2024 07:00

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RNS Number : 6158Q  Kavango Resources PLC  31 May 2024

31(st) May 2024

Kavango Resources

("Kavango" or "the Company")

BOTS - Priority KCB Targets identified

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals
exploration company, is pleased to announce the first high priority targets
have been identified for Phase 1 of the drilling on the Kalahari Copper Belt
(KCB) Karakubis Copper Project in Botswana.

Highlights

·    Specialist geophysical consultant Emergo Srl has completed Inversions
on Airborne ElectroMagnetic ("AEM") data over the central portion of Survey
Block 1A of the Karakubis Project.

o Kavango interprets this area is underlain by lower D'Kar Formation ("DKF").

o The contact point between the lower DKF and Ngwako Pan Formation ("NPF") is
known to coincide with major copper/silver ("Cu/Ag") deposits in the region.

·    Kavango has identified five high priority target areas for immediate
Gradient Array Induced Polarisation ("IP") surveys to refine drill targets.

o The high priority target areas are interpreted to be underlain by lower DKF
stratigraphy, occupying a faulted block within the Kara Antiform, which lies
along a gravity high believed to represent a basin margin setting.

o A large number of potential drill targets have been identified, which will
be ranked according to results of the IP surveys.

·    First phase of drilling, totalling approximately 5,000 m, designed to
test trap site structures associated with doubly plunging fold targets and
anticlines identified initially from modelling of AEM data as being relatively
shallow, at ~200-300m.

·    Diamond core drilling of selected targets will be undertaken by
Mitchell Drilling, commencing in June.

·    Further priority targets anticipated as data processing and
interpretation are completed for survey results from Survey Blocks 1A and 1B.

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

"Kavango holds in excess of 6,200 km(2) of highly prospective ground in the
Kalahari Copper Belt. This is a very large land package with the potential to
host multiple, large-scale copper silver deposits.

Over the last 18 months, our team has completed the painstaking task of
compiling a wide array of exploration data to maximise our chances of drill
success. This work has generated more target areas than we anticipated, which
is especially positive for the overall potential of the Karakubis Project.

Although we still have further airborne data to process, the targets we have
identified are already strong enough to be classed high priority. As such, we
have decided to push ahead with drilling.

Our primary objective will be to prove that our target areas cover a copper
mineralising system. We had previously reported the identification of
favourable structural geology for possible trap zones. If we can now prove
that copper mineralised fluids passed through the region our chances of
success should increase significantly.

We look forward to the results of the IP surveys to refine final target
selection and then to commence drilling in the coming weeks."

Karakubis Exploration Targeting Results

A comprehensive compilation and analysis of all available data has so far
identified five high priority targets interpreted to be underlain by
favourable lower DKF, (Figure 1) with more priority targets anticipated as
data processing of inversions is completed and interpreted.

Survey lines are currently being cut in preparation for Gradient Array Induced
Polarization ("IP") with additional Insight section surveys anticipated. The
large number of prospective targets identified by modelling of the AEM will be
prioritized with the IP and then will then be selected and ranked by
Kavango.  The highest ranked of these will be drill tested, starting in June.

The lower DKF lithologies have been identified from Kavango geological mapping
in conjunction with systematic detailed lithological and structural logging of
historical exploration and water boreholes together with examination of
handheld portable X-ray fluorescent ("pXRF") measurements of drill cores and
drill chips, supported by magnetic susceptibility measurements.

The interpreted lower DKF setting is supported by coincident AEM (Figure 2),
magnetic, gravity and Sentinel 2 satellite data (Figure 3) which clearly
define doubly plunging fold hinge targets (domes/basin highs) in the
interpreted underlying DKF.

Figure 1, Locality map highlighting the 5 priority areas to be covered by IP
surveys, located within the NRG survey block 1A, together with the current
progress of AEM Inversion processing. Geology base map compiled by Kavango
shows interpreted prospective lower D'Kar Formation underlying the target
areas.

Figure 2, Oblique view of AEM mid-time data image, with structural overlay.
Lower D'Kar Formation is interpreted to underly the areas in blue, with middle
& upper D'Kar Formation interpreted to underly the areas in red. A NE-SW
trending structure appears to define a break between the lower and middle
D'Kar, with evidence from borehole logging data supporting this.

Figure 3, Oblique view of the Sentinel 2B
16bit_20231020_0000000_2500mm_multispectral image over part of the Karakubis
area, clearly showing well defined fold patterns that appear coincident with
interpreted faults and fold displayed in the underlying AEM Inversions.

Helicopter-borne gravity also clearly defines a WSW-ENE trending ~9 milliGal
gravity high underlying the Kara Antiform, believed to represent a basin
margin. Such basin margin positions along the KCB are considered prospective
sites for the focus of Cu-Ag mineralisation and host the two existing mines
and numerous known deposits.

Closer inspection of the Karakubis Project gravity data appears to show a
thinner package of DKF lithologies, (lower DKF) underlying the central portion
of the Karakubis Project, while increasingly thicker packages of D'Kar
lithologies (middle and upper DKF) occur along strike to the northeast and in
the fold closure towards the southwest, Figure 4.

Figure 4, Oblique view of the NRG bouguer gravity image with structural
overlay. Central portion of the image appears to show small domes (green
through yellow-brown) possibly representing folded packages within the lower
D'Kar sequences and possibly thicker packages (red through to white) of folded
middle and upper D'Kar sequences in the SW and NE.

The five high priority target areas all appear in the gravity data to be
located above a series of small, interlinked domes separated by embayments.
These same domes appear as tightly folded doubly plunging fold structures in
the magnetic tilt derivative TDR data supported by the Sentinel 2 satellite
imagery.

The first phase of drilling, totalling approximately 5,000m, is being designed
to test for mineralisation within trap site structures associated with doubly
plunging fold targets and anticlines identified initially from modelling of
AEM data, refined with results from the IP surveys, like those shown in Figure
5.

Figure 5, Plan view of the magnetic TDR image with structural overlay and
preliminary drill targets. Note the doubly plunging fold structures located
within the IP block outlines.

The preliminary set of holes target "washout" structures in the AEM Inversions
that appear coincident with structural breaks in anticlinal folds. Such
washout features have been seen elsewhere on the KCB to be associated with
mineralisation. These preliminary holes will be refined when IP data becomes
available and further prioritised.

Figure 6, Sectional view of AEM Inversion image with preliminary drill
targets. In this example one hole is sited to intersect a "washout" on the
northern limb of a small anticlinal fold close to the southwest plunging fold
closure while the second hole targets the potential trap site in the core of
the fold.

The central portion of Block 1A was selected for the first phase of drilling
as the target trap sites above the DKF/NPF contact are interpreted as being
located at a relatively shallow depth, around 200m below surface.

The exploration and drilling strategy aims to validate the interpretations
made to date by establishing the stratigraphic position, verify the presence
of structural trap sites and prove the presence of a mineralising system
through identification of path finder minerals.

Further work will be undertaken based upon interpretation of the results.

 

For further information please contact:

Kavango Resources plc

Ben Turney

+46 7697 406 06

First Equity (Broker)

Jason Robertson

+44 207 374 2212

 

Kavango Competent Person Statement

The technical information contained in this announcement pertaining to geology
and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM
(CP).  Mr Grist is a Fellow of the Australasian Institute of Mining and
Metallurgy with Chartered Professional status.  Mr Grist has sufficient
experience that is relevant to the exploration programmes and geology of the
main styles of mineralisation and deposit types under consideration to act as
a Qualified Person as defined in the 2012 Edition of the 'Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr
Grist is an employee of Kavango Resources plc.

The technical information contained in this announcement pertaining to
geophysics have been read and approved by Mr. Jeremy S. Brett, M.Sc., P.Geo.,
Senior Geophysical Consultant, Jeremy S. Brett International Consulting Ltd.
in Toronto, Canada.  Mr. Brett is a member of the Professional Geoscientists
of Ontario, the Prospectors and Developers Association of Canada, the Canadian
Exploration Geophysical Society, and the Society of Economic Geologists.  Mr.
Brett has sufficient experience that is relevant to geophysics applied to the
styles of mineralization and types of deposits under consideration to act as a
Qualified Person as defined under the Canadian National Instrument 43-101,
Standards of Disclosure for Mineral Projects.

 

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