|
Kavango Resources PLC on Wednesday said it has identified further evidence of a potential wider mineralised system at its Ditau project in southwest Botswana. The southern Africa-focused metals exploration company said it completed logging of two historic exploration holes that were drilled in the vicinity of target i10. This follows confirming the 470 metre strike extent of the mineralised branded iron formation encountered in hole DITDD004, as announced on Friday last week. It drilled DITDD004 in April 2022 to test target i10. Kavango said drill core from the the two historic exploration holes X077_H002 and X081_H001 ‘both exhibit clear evidence’ of mineralisation. X077 is 470 metres from DITDD004. It was drilled to 189 metres and intercepted the same mineralised BIF recently identified as a large-scale system, primarily prospective for possible lode gold mineralisation. It added the mineralised BIF in X077 remained open at depth and Kavango is considering drilling a twin hole to test this target. Meanwhile, X081 is three kilometres to the southwest of DITDD004 and was drilled to a depth of 144 metres, with its core ‘highly weathered’ and containing ‘extensive relict textures after pyrite’ and iron oxides in veins. ‘There are clearly signs of locally intense hydrothermal activity,’ Kavango said, while it has sent samples from X077 and X081 for assay testing. Chief Executive Officer Ben Turney added: ‘Gaining access to exploration holes X077 and X081 via the Botswana Geological Institute could prove to be decisive in our Ditau exploration programme. X077 has already demonstrated the potential strike extent of the thick mineralised banded iron formation we intercepted with our hole DITDD004 last April. ‘However, the identification of X081 opens an even more intriguing line of investigation for us. Evidence of intense local hydrothermal activity and the clear presence of iron oxides and sulphides strengthen the possibility of a regional exploration play.’ Shares in Kavango were down 7.5% to 0.99 pence each in London on Wednesday late morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
