19th Aug 2024 14:27
Kavango Resources PLC - London-based, Botswana and Zimbabwe-focused precious metals exploration company - Notes receipt of gold assay results for recent soil sampling programme at prospect 4, Hillside project in Matabeleland, southern Zimbabwe. Kavango says it received 582 assay results for soil samples collected over 1.5 square kilometres with anomalous values across much of the gridded area. Highlights that best results at hole SKDD001 include 29.08 grammes of gold per tonne from 97.47 metres, with an average peak grade of 212.07 grammes of gold per tonne over 34 centimetres.
Chief Executive Officer Ben Turney says: "Today's soil sample assays confirm the wider potential for a possible minable gold ore body around this target. We will now follow up with an Induced Polarisation survey to see if we can identify further concealed shear zones that have not previously been uncovered by local artisanal mining. If such structures exist, which the soil assays suggest is probable, this will increase our confidence ahead of further drilling."
Current stock price: 1.40 pence each, down 1.5% on Monday afternoon in London
12-month change: up sharply from 0.63p each on August 21, 2023
By Tom Budszus, Alliance News slot editor
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