⌘K
t
| Date | 3 Mar 2022 |
| Time | 11:17:35 |
| Category | Corporate updates |
| ID | 5450D |
PRESS RELEASE
03 March 2022
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Preliminary Petrology Report TA2DD002 & KSZDD001
Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce receipt of a preliminary independent Petrology Report for Holes TA2DD002 & KSZDD001, drilled in the Kalahari Suture Zone ("KSZ").
Kavango sent ten samples to SJT MetMin Services Pty ("SJTMetMin"), an experienced petrological and mineralogical consultant, taken from intersections of the Karoo intrusives and the Proterozoic gabbro from Exploration Holes TA2DD002 and KSZDD001. Both holes were successfully drilled to a depth of 1,000m.
TA2DD002 is located on the "30km Strike" target (announced 23 November 2021) and encountered 349m of Proterozoic gabbro to End of Hole ("EOH"). KSZDD001 is located 20km away on the Great Red Spot (announced 16 November 2021) and encountered 49m of Proterozoic gabbro to EOH.
The Report states:
"Ten drill core intersection were received from Kavango Minerals (Pty) Ltd for detailed petrological evaluation.
These samples appear to be prospective for Ni(Co)-Cu sulphide mineralisation.
They seem to represent relatively primitive mafic-ultramafic rocks, including some magmatic sulphide-bearing olivine-rich gabbronorites, olivine-bearing gabbros and biotite-rich gabbronorites to gabbros.
There is clear evidence of magmatic sulphides in many of these samples. These sulphides commonly range from 0.02 to 0.4mm in grains size. The precise makeup of the sulphides still needs to be confirmed by scanning electron microscopy and associated energy dispersive spectroscopy analyses. Ultra-fine secondary sulphides are also sporadically present. These secondary sulphides are especially evident where the olivine and/or orthopyroxene are affected by retrograde alteration.
More work needs to be done to determine the potential of these rocks to host economical viable Ni(Co)-Cu sulphide mineralisation."
The full Petrological Report is currently being finalised and Kavango will release its results, once it receives them.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
"Kavango is a data driven company. Results from the field lead our exploration strategy. The Preliminary Petrological report for Holes TA2DD002 and KSZDD001 gives us further evidence that the Proterozoic gabbro in the Kalahari Suture Zone is becoming an important exploration horizon for the Company.
Our principal objective for our recent "Proof of Concept" drill campaign in the KSZ was to gain physical proof of the existence of favourable host rocks for nickel/copper massive sulphide ore bodies. It appears we have taken a step towards this, though further work is required.
It is worth remembering that the two holes we drilled targeted distinctly separate geological systems, 20km apart. Although the report is preliminary at this stage, it is an encouraging indicator of both systems' potential that the Proterozoic rocks we encountered appear to be prospective for nickel/copper massive sulphides.
SJT Metmin is a well-known petrological and mineralogical consulting firm based in Johannesburg, with extensive experience in both the deposit styles we are exploring for and the wider region.
We look forward to receiving the full Petrological Report in due course."
Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Mr. John Lauderdale B.Sc., C. Geol., Group Consulting Geologist. Mr. Lauderdale is a Chartered Geologist and Fellow of The Geological Society of London, a Fellow of The Geological Society of South Africa, and a Member of the Society of Economic Geologists. Mr. Lauderdale 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'.
Note to Editors:
THE KALAHARI SUTURE ZONE
Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 16 prospecting licences covering 8,831.1km2 of ground, including 14 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.
The area covered by Kavango's KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey's Bay (Canada).
The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia's nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango's licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.
KSZ DEFINITIONS
Chalcopyrite: A copper rich sulphide mineral (CuFeS2), widely occurring in magmatic sulphide ore bodies.
EM Super Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.
Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth's crust. Gabbroic rocks (or "gabbros") are formed as the molten magma crystallizes and cools.
Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.
Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.
Massive sulphide: When a deposit consists almost entirely of sulphides it is termed "massive". When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed "disseminated".
Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit -
https://twitter.com/KavangoRes/status/1316004057895645186?s=20
Norilsk Style: copper/nickel/PGE mineralisation associated with the intrusion into the upper parts of the Earth's crust of mafic magma, which form magma chambers that sit below volcanic vents or fissures that extrude basaltic lava onto the surface (Hawaii is a possible modern equivalent). The Norilsk intrusions tend to have distinct morphologies, combining thin gabbro sills (wings) with deep keels (thought to be associated with feeder dykes) at the base.
Norilsk Model: a genetic geological model similar to that pertaining to the Norilsk/Talnakh deposits in Siberia. Traditionally, it was thought that, during emplacement, the magma incorporated sulphur rich country rock (e.g. coal measures) or evaporites into the melt, which allowed the molten magma to become sulphur saturated. The free sulphur would then combine, preferentially, with Cu/Ni/PGE metal ions to form metal sulphides, which, being heavy, tended to accumulate in traps or into the keel of the magma chamber. However, modern research suggests that the process might be more complex and may also involve changes of the chemical and physical properties of the magma during the introduction of new pulses of molten material from below. Such sudden changes may have caused rapid segregation of metal sulphides within and above the feeder dykes within the keel of the intrusion.
Pegmatitic: Pegmatites are very coarse grained igneous rocks having grain sizes in excess of 3cm, Pegmatites are thought to form as a result of very slow crystallisation and may contain exotic minerals from a volatile-rich melt.
Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.