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Kavango Resources PLC - London-based mineral explorer focused on Botswana - On receipt of analytical results from drill hole DITDD004 on target i10 at the Ditau Camp project in Botswana.
Analysis shows presence of gold associated with hydrothermally altered rocks, causing the zone of interest to be extended to 393.3 metres from 292.6 metres. Results also show the presence of anomalous level of gold to 0.18 parts per million and copper to 0.10%.
‘Gold had never been discovered in this area, but our geological team maintained an open mind during drilling. On seeing extensive disseminated sulphide in the core of DITDD004, we decided that fire assays (for gold) would be an appropriate step. This has led to a new exploration lead, with an intensely developed brecciated and hydrothermally altered system that contains mineralisation, including gold, copper, iron oxides and iron sulphide. This system remains open in all directions as well as at depth, offering prospective potential for the future,’ said Chief Executive Officer Ben Turney.
Current stock price: 1.90 pence, up 4.1% on Tuesday
12-month change: down 54%
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