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KSZ - Second Mineralisation Target Type at the GRS
KSZ - Second Mineralisation Target Type at the GRS.
About this update from Kavango Resources Plc
[{"type":"text","content":"\n \n \n PRESS RELEASE\n \n \n \n \n \n 09 May 2022\n \n \n KAVANGO RESOURCES PLC\n \n \n (\"Kavango\" or \"the Company\")\n \n \n \n \n \n KSZ - Second Mineralisation Target Type at the GRS\n \n \n The Great Red Spot (the \"GRS\") has been recognised as a large-scale exploration target in Botswana for major metal and mineral deposits since the mid-1970s. However, technology has only advanced sufficiently in recent years to allow effective exploration of this.\n \n \n Kavango Resources plc (LSE:KAV) has been conducting exploration over this 5km x 8km magnetic body since 2018. Most recently, the Company drilled exploration holes KSZDD001 and KSZDD002 in this area. Initial results from KSZDD001 (announced 16 November 2021) provided Kavango with an exploration lead that appeared to support a late 1990's theory about the GRS, in that it could host a form of Iron Oxide Copper-Gold (\"IOCG\") style mineralisation.\n \n \n IOCG systems can host\n highly valuable copper, gold and uranium ores. The large size and relatively simple metallurgy can produce extremely profitable mines.\n \n \n Following six months of additional field exploration and detailed desktop analysis, Kavango confirms it now believes the GRS conforms to an idealized model for a large IOCG-style system.\n \n \n The Company believes this is a significant development for the prospectivity of the GRS. IOCG deposits are an alteration \"overprint\" of the host geology when they form. Therefore, Kavango believes the IOCG model represents a second mineralisation style possibly present within the GRS, in addition to the existing potential for nickel/copper (Ni/Cu) sulphide deposits.\n \n \n Highlights\n \n \n - \n IOCG mineralisation model for the Great Red Spot (\"GRS\") first proposed in late 1990s\n \n \n - \n This is a second possible mineralisation style for the GRS, which Kavango is now targeting in addition to the Ni/Cu sulphide model\n \n \n - \n Initial contact with Proterozoic basement host rocks at 950m depth\n \n \n - \n Draft economic comparables study confirms potential viability of the modelled IOCG deposit type at this depth in this region\n \n \n - \n Great Red Spot exhibits similar geophysical signatures to the Olympic Dam IOCG ore deposit in Australia. These include:\n \n \n - \n Coincident aeromagnetic and gro...