Business
KSZ – Completion of KSZDD003
KSZ – Completion of KSZDD003.
About this update from Kavango Resources Plc
[{"type":"text","content":"\n\nPRESS RELEASE\n11 July 2023\nKAVANGO RESOURCES PLC\n(\"Kavango\" or \"the Company\")\n \nKSZ - Completion of KSZDD003\nKavango Resources plc (LSE:KAV), the Southern Africa-focussed metals exploration company, announces it has today completed Hole KSZDD003 within the Company's Kalahari Suture Zone North (\"KSZ North\") project.\nHole KSZDD003 aimed to test the B1 Conductor drill target, which was previously identified by Time Domain Electromagnetic (\"TDEM\") and Downhole Electromagnetic (\"DHEM\") survey data. The B1 Conductor is a 28,700 Siemens DHEM conductor remodelled as located approximately 60m to the side of the Company's previously drilled hole, KSZDD002.\nKSZDD003 was successfully drilled to a depth of 606.00 m to test the remodelled B1 Conductor. As in hole KSZDD002, the hole passed through a sedimentary sequence and two intrusive bodies, thought to be of Karoo age. No sulphide was intersected that is considered to explain the 28,700 Siemens response. DHEM will be carried out and remodelled to further investigate the B1 Conductor.\n \nBen Turney, Chief Executive Officer of Kavango Resources, commented:\n\"This was a technically challenging hole, that was successfully completed, allowing us to test the B1 Conductor target. Our team performed extremely well, which reflects the strong progress Kavango continues to make in developing our exploration capabilities.\nWhile we are disappointed that B1 has not turned out to be significant nickel or copper sulphide, we believe we have an answer on this target. It appears the thicker carbonaceous material, containing coincident graphite and pyrite rich bands, with minor pyrrhotite veining, is the most probable conductive source. While this hole has not intersected visible nickel or copper sulphides we had hoped for, we expect that the DHEM survey will help further confirm the cause of the conductor.\nAs such, we have decided to end the current drill campaign. We've learned valuable lessons in our exploration of the Kalahari Suture Zone and the time is right for us to draw these together before we decide on next steps for this project.\nMeanwhile, we will preserve our working capital for redeployment to the Kalahari Copper Belt and our new Zimbabwe gold opportunity. We will focus our drilling efforts on these projects in the second half of this year, where we b...