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IOCG Target Conceptual Economic Viability Report
IOCG Target Conceptual Economic Viability Report.
About this update from Kavango Resources Plc
[{"type":"text","content":"\n \n \n \n PRESS RELEASE\n \n \n \n \n \n \n 22 July 2022\n \n \n \n KAVANGO RESOURCES PLC\n \n \n \n (\"Kavango\" or \"the Company\")\n \n \n \n \n \n \n IOCG Target Conceptual Economic Viability Report\n \n \n \n Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (\"Kavango\") is pleased to release an Independent Conceptual Economic Viability Report (the \"Viability Report\") for the Iron Oxide Copper-Gold target (the \"IOCG Target\") at the Great Red Spot within Target Area B\n in the northern (Hukuntsi) section of the Kalahari Suture Zone (\"KSZ\").\n \n \n The IOCG Target at the Great Red Spot exhibits similar geophysical signatures to the Olympic Dam IOCG ore-deposit that is owned and operated by BHP in Australia. A full description of the IOCG Target can be found in the announcement made on 09 May (>>> link here).\n \n \n Kavango commissioned the Viability Report to assess whether the IOCG Target would be an economically viable mine, should drill testing confirm mineralisation. The Viability Report was prepared by Executive Mining Group Ltd (\"Executive Mining\"), an established firm of mining executives with extensive experience in Africa.\n \n \n The Viability Report is a conceptual study and should not construed as a definitive study and has been created to support further exploration of the IOCG Target, including future test drilling.\n \n \n Executive Mining concludes that the IOCG Target would be economically viable at depths up to 2km below the surface, should sufficient bulk of mineralisation be discovered that is of sufficient grade.\n \n \n Kavango plans to release an exploration plan for the IOCG Target in the coming weeks, which will describe the Company's approach to testing this target thoroughly.\n \n \n \n Ben Turney, Chief Executive Officer of Kavango Resources, commented:\n \n \n \n \n \"The IOCG Target at the Great Red Spot is highly attractive because it is so large, and the geophysical indicators so compelling. Results from three separate surveying techniques (gravity, magnetics and CSAMT) appear to correlate with one another, while the established presence of magnetite from Hole KSZDD001 provides a further physical exploration lead.\n \n \n \n \n To add further weight to ongoing pursuit of this deposit style at the estimated depths, we commissione...