Kavango Resources (KAV)

Sector:

Mining

1.23p
   
  • Change Today:
    -0.025p
  • 52 Week High: 1.53
  • 52 Week Low: 0.54
  • Currency: UK Pounds
  • Shares Issued: 1,305.57m
  • Volume: 3,580,037
  • Market Cap: £15.99m
  • RiskGrade: 164

Kavango appoints firm for target selection modelling at Kalahari

By Josh White

Date: Friday 12 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Botswana-focussed exploration company Kavango Resources announced the appointment of a specialist geological modelling firm Mira Geoscience to advance target selection for future drilling in the Kalahari Suture Zone (KSZ) on Friday.
The London-listed firm described Mira Geoscience as a "world leader" in advanced geological and geophysical 3D modelling, including the interpretation of mineral systems and drill target identification for the mining and mineral exploration industries.

It said it had now supplied Mira Geoscience with a "comprehensive set" of all the historical data pertaining to the northern section of the KSZ, totalling 3,238 square kilometres, as well as the data collected from its own exploration activities.

The data supported Kavango's assertion that the KSZ had the potential to host multiple 'Norilsk-style' copper-nickel-platinum group metals deposits.

Kavango said the completed model would map the size, location and orientation of gabbroic sills and dykes, or conduits, across the zone in relation to their sedimentary host rocks, or Karoo, and the overlying Kalahari cover.

Mira Geoscience's 3D Model was designed to identify potential subsurface trap zones that occured in association with the conduits at depths of up to 300 metres from surface, the board explained.

It said such trap zones represented areas where the heavy metal sulphides could have accumulated during the ascent of gabbroic magma towards the surface, and therefore constitute targets for further investigation.

A follow-up would involve high powered, low frequency ground electromagnetic surveys, to identify mineralisation prior to drilling.

"Over the last six months, Kavango has compiled a great deal of historical and current information from drill-hole logs and geophysical surveys to produce a comprehensive data-base," said chief executive officer Michael Foster.

"This will assist Mira Geoscience in the development of a computerised 3D model of the northern section of the KSZ."

Foster said the model would be designed to identify trap zones within which metal sulphide accumulations could have developed.

"This modelling is 'state-of-the-art' exploration and we are optimistic that it will lead to a mineral discovery in the near future."

At 1049 BST, shares in Kavango Resources were up 8.18% at 1.19p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KAV Market Data

Currency UK Pounds
Share Price 1.23p
Change Today -0.025p
% Change -2.00 %
52 Week High 1.53
52 Week Low 0.54
Volume 3,580,037
Shares Issued 1,305.57m
Market Cap £15.99m
RiskGrade 164

KAV Star Ratings

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Key: vs Market vs Sector
Value
6.99% above the market average6.99% above the market average6.99% above the market average6.99% above the market average6.99% above the market average
9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average
Price Trend
40.71% above the market average40.71% above the market average40.71% above the market average40.71% above the market average40.71% above the market average
65.52% above the sector average65.52% above the sector average65.52% above the sector average65.52% above the sector average65.52% above the sector average
Income Not Available
Growth Not Available

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