Kavango Resources (LON: KAV), the Southern Africa-focused metals exploration company, announced the successful completion of drilling the first high-priority target at the Karakubis Copper Project in Botswana’s Kalahari Copper Belt. 

Field analysis of drill cores taken from this target confirms the presence of a copper-silver mineralising system at Karakubis, as well as further indicators of structural trap sites. KAV said it started drilling at Karakubis to confirm the presence of a copper-silver mineralising system. Results from its first target have surpassed its expectations.

This validates the geological model and confirms the potential to discover a large-scale copper/silver deposit.

Kavango Resources* (KAV LN) 1. 53p, Mkt Cap £21m – Early validation of the exploration model at Karakubis, Botswana

• Kavango Resources reports that its drilling at the Karakubis project in the Kalahari Copper Belt in Botswana has confirmed “the presence of a copper-silver mineralising system at Karakubis, as well as further indicators of structural trap sites”.
• Based on the results of hand-held pXRF analysis of the drill core “suggests the mobilisation of copper sulphides in mineralising fluids within the system, and may provide a vector towards further mineralisation” and reported “local values of up to 1.8% copper, 723ppm lead, 264ppm zinc and 116ppm silver”.
• The company says that the drill core “is being cut and sampled and will be dispatched for assay in due course” and that the “drill rig … [has been] … mobilised to the second high-priority target … [where] … Hole KCBDD003 is currently at 232.58m”.
• CEO, Ben Turney, explained that within the first 500m of the planned 5,000m drilling programme at Karakubis the company had shown the “the presence of a copper-silver mineralising system” which validates the geological model and meets the prime objective of this phase of the exploration.
• Mr. Turney said that “Kavango looks forward to building on these results as our drilling continues … [and with] … a further 4,300m of drilling planned over our remaining 14 high-priority targets, we believe our chances of discovery success have increased significantly”.

Conclusion: Early stages of the drilling at Karakubis have helped to validate the exploration model and we look forward to detailed assay results from the early drilling and further results as the rest of the 5,000m programme continues.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:

“We started drilling at Karakubis to confirm the presence of a copper-silver mineralising system. Results from our first target have surpassed our expectations. The validate our geological model and confirm the potential to discover a large-scale copper/silver deposit.

Our original goal in the drill campaign was to prove the presence of a copper mineralising system and structural regional traps within Karakubis. We’ve met this objective within our first 500m. This speaks to our team’s meticulous preparations prior to drilling. I would like to thank everyone involved for all they have contributed.

The core from the two holes validates the interpretations we’ve applied to modelling the Kalahari Copper Belt (KCB). In particular, the core highlights rock sequences consistent with and comparable to descriptions of lower D’Kar Formation sequences to the west in Namibia and along strike towards Sandfire Resources’ (ASX:SFR) Motheo Mine to the northeast. The contact position between the D’Kar Formation and Ngwako Pan Formation is one of the main regional controls for large-scale copper/silver deposits and will be tested by other holes in the programme.

The intersection of pathfinder elements and pyrite, along with copper values in our pXRF readings, provides an encouraging indicator of the presence of structural trap sites. Such traps have enabled the accumulation of economic copper deposits elsewhere in the KCB.

Kavango looks forward to building on these results as our drilling continues. This is our most ambitious drill programme to date. Preparations took two years to maximise our chances of discovery success.

Now that we have received such strong confirmation that our modelling appears to be correct, we move forward in eager anticipation. With a further 4,300m of drilling planned over our remaining 14 high-priority targets, we believe our chances of discovery success have increased significantly.”

Drill Objective

Kavango’s exploration and drilling strategy at Karakubis is to validate the interpretations made to date from modelling of geological and geophysical data and to establish the stratigraphic position in the system, verify the presence of structural trap sites and confirm the presence of a copper/silver mineralising system through identification of pathfinder minerals.

https://www.share-talk.com/ben-turney-ceo-of-kavango-resources-lonkav-talking-to-zaks-traders-cafe/