11th Jul 2023 17:05
Kavango Resources PLC - London-based, Botswana-focused metals exploration company - Announces it has completed hole KSZDD003 within the Kalahari suture zone north project. Explains KSZDD003 is aimed to test the B1 Conductor drill target, which was previously identified by survey data. Reports KSZDD003 was successfully drilled to a depth of 606.00 metres. The hole passed through a sedimentary sequence and two intrusive bodies, thought to be of Karoo age. No sulphide was intersected.
Chief Executive Ben Turney says: "While 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." Adds however that Kavango has decided to end the current drill campaign.
Kavango plans to preserve working capital for redeployment to the Kalahari Copper Belt and the new Zimbabwe gold opportunity, where it believes it will have much greater chances of success.
Current stock price: 0.68 pence
12-month change: down 67%
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
Kavango Resources