Ben Turney, Kavango chief executive, said: “These are surprising, positive results for Kavango.”
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said it has identified an iron oxide copper gold (IOCG) system at its Ditau Project in southwestern Botswana.
It is the first confirmation of IOCG-style mineralisation in Botswana, Kavango believes, and suggests “there is considerable exploration upside at Ditau, both for higher grade IOCG discovery and for carbonatites that may contain rare earth elements.”
Petrology analysis confirmed the IOCG system at Target i10 in Hole DITDD004 with 15 samples from Ditau tested by an internationally recognised laboratory in the UK. Kavango said next it will prepare an updated exploration plan incorporating the IOCG deposit model.
In a statement, Ben Turney, Kavango chief executive, said:
“These are surprising, positive results for Kavango. The Iron Oxide Copper Gold deposit style has never been considered at Ditau. However, given the project’s geological setting, there is a compelling logic to this model.”
He added: “Ditau sits towards the western edge of the Kaapvaal Craton and is within an established kimberlite/carbonatite corridor. These are supportive indicators of a potentially favourable environment for IOCG mineralisation.
“Our current strongest lead is Hole DITDD004, which tested Target i10 and remains open in what we believe to be an IOCG breccia at 393m.
“We believe i10 would benefit from deeper and lateral drilling. However, before we send a rig back to Ditau, we need to conduct more CSAMT and gravity surveys over all 12 targets.”
