Kavango Resources Share Discussion Threads

[bungeetrader] 16/5/2019 15:54

I really don't think they can drop any more 'hints' at what they think is down there. KAV is a slow burner at the moment but if it all comes together then some serious gains are possible if you can keep your finger off the sell button.

[skiboy10] 16/5/2019 15:39

Kavango hits record high as second Ditau drill hole hits large zone of ‘intensely altered rock’ (KAV)

Kavango Resources (LSE:KAV) sat at an all-time high of 4p on Thursday after revealing additional ‘extremely encouraging’ drilling results at its Ditau prospect in Botswana. The £6m firm, which was trading up 8.1pc as at writing after leaping 16.4pc on Wednesday, said its second hole at the site had intersected over 320m of intensely altered Karoo sediments above a gabbroic intrusive.

Ditau is part of Kavango’s KSZ project in south-west Botswana, where it is exploring for copper, nickel, and platinum group elements (PGEs) rich sulphide orebodies along a 450km-long magnetic anomaly. According to the firm, the area covered by its KSZ licences displays a geological setting with distinct similarities to that hosting the world-class for copper, nickel, and PGEs orebodies in Siberia.

In Thursday’s update, Kavango said its second hole at Ditau, called DitDDH2, was finally stopped at a depth of 557.34m, offering good core recoveries and minimum deviation. Kalahari sands and sediments extended to 40m, while Karoo sediments continued for a further 438m until an intrusive was encountered at 478.55m.

The business added that geological logging and preliminary geochemical analysis has shown that the 320m zone of intensely altered rock was intersected before hitting the intrusive. Half core from this zone has been cut and sampled at 1m intervals and sent to Australia for assay.

Although Kavango cannot yet determine indicative values for gold, silver, and PGEs, it said initial results suggest elevated values for cobalt, zinc, nickel, and copper. Meanwhile, it added that the core also appeared to contain high levels of rare earth elements. The organisation will assess further drilling plans once it has received and interpreted assay values.

Kavango added that Thursday’s zone of intensely altered rock was similar to that encountered at its first hole – DitDDH1 – back in March. This met a 200m zone of intensely altered rock above the conductive drill target. It also showed significant sulphide alteration together with indicative cobalt values of up to 0.9pc and a weighted average of 0.2pc cobalt over 70m as well as elevated copper, zinc, lead and nickel values.

On Thursday, Kavango’s chief executive Michael Foster said: ‘We are extremely encouraged that the geophysics, geochemistry and the initial drilling which we have now completed at Ditau have been very successful in predicting a prospective hydrothermal system under complete cover.’

He added that the extensive system displays essential ingredients for one or more mineral deposit. These include intrusives for heat and metal source, receptive overlying sediments with accompanying alteration, and anomalous metal values.

‘Assays are eagerly awaited and will be announced to the market as soon as they become available. The Company will then be in a position to compile a 3-D model, with the extensive information we now have, to understand fully the potential of Ditau,’ he added.

Kavango’s co-founder Mike Moles recently authored a piece for MiningMaven on how these copper, nickel, and platinum group element-rich sulphide orebodies occur and why the firm is keen to locate them. To read it, please click here.

Author: Daniel Flynn

[skiboy10] 16/5/2019 15:38

Kavango hits record high as second Ditau drill hole hits large zone of ‘intensely altered rock’ (KAV)

Kavango Resources (LSE:KAV) sat at an all-time high of 4p on Thursday after revealing additional ‘extremely encouraging’ drilling results at its Ditau prospect in Botswana. The £6m firm, which was trading up 8.1pc as at writing after leaping 16.4pc on Wednesday, said its second hole at the site had intersected over 320m of intensely altered Karoo sediments above a gabbroic intrusive.

Ditau is part of Kavango’s KSZ project in south-west Botswana, where it is exploring for copper, nickel, and platinum group elements (PGEs) rich sulphide orebodies along a 450km-long magnetic anomaly. According to the firm, the area covered by its KSZ licences displays a geological setting with distinct similarities to that hosting the world-class for copper, nickel, and PGEs orebodies in Siberia.

In Thursday’s update, Kavango said its second hole at Ditau, called DitDDH2, was finally stopped at a depth of 557.34m, offering good core recoveries and minimum deviation. Kalahari sands and sediments extended to 40m, while Karoo sediments continued for a further 438m until an intrusive was encountered at 478.55m.

The business added that geological logging and preliminary geochemical analysis has shown that the 320m zone of intensely altered rock was intersected before hitting the intrusive. Half core from this zone has been cut and sampled at 1m intervals and sent to Australia for assay.

Although Kavango cannot yet determine indicative values for gold, silver, and PGEs, it said initial results suggest elevated values for cobalt, zinc, nickel, and copper. Meanwhile, it added that the core also appeared to contain high levels of rare earth elements. The organisation will assess further drilling plans once it has received and interpreted assay values.

Kavango added that Thursday’s zone of intensely altered rock was similar to that encountered at its first hole – DitDDH1 – back in March. This met a 200m zone of intensely altered rock above the conductive drill target. It also showed significant sulphide alteration together with indicative cobalt values of up to 0.9pc and a weighted average of 0.2pc cobalt over 70m as well as elevated copper, zinc, lead and nickel values.

On Thursday, Kavango’s chief executive Michael Foster said: ‘We are extremely encouraged that the geophysics, geochemistry and the initial drilling which we have now completed at Ditau have been very successful in predicting a prospective hydrothermal system under complete cover.’

He added that the extensive system displays essential ingredients for one or more mineral deposit. These include intrusives for heat and metal source, receptive overlying sediments with accompanying alteration, and anomalous metal values.

‘Assays are eagerly awaited and will be announced to the market as soon as they become available. The Company will then be in a position to compile a 3-D model, with the extensive information we now have, to understand fully the potential of Ditau,’ he added.

Kavango’s co-founder Mike Moles recently authored a piece for MiningMaven on how these copper, nickel, and platinum group element-rich sulphide orebodies occur and why the firm is keen to locate them. To read it, please click here.

Author: Daniel Flynn

[greatfull dead] 16/5/2019 11:46

Assay results of prime importance. Good to very good a placing followed probably by a juicy JV.

GLA,
GD

[cashandcard] 16/5/2019 11:44

TheLung,

Lol ;)


Cash

[thelung] 16/5/2019 11:37

It's turned mine ?

[cashandcard] 16/5/2019 11:29

TheLung,

They have enough for the current program, from monies raised a few months ago.

Of course, they will need to raise again, tis what AIM is about and the lifeblood of small explorers. As you say, there is also the possibility of JV if they can prove a large mineralised system under the sand, I'm sure it will turn some very big heads.


Cash

[thelung] 16/5/2019 11:23

Cash, hope you're well. Have you looked at the cash position? Could get a KOD style rise on initial assays but hesitant re follow up drilling costs and any ensuing cash call in the absence of a JV (which is possible).

[cpap man] 16/5/2019 10:55

Some nice words in the morning note from John Meyer at share price Angel



Kavango Resources (KAV LN) 3.6p, Mkt Cap £5.7m – Laws of probability to be rewritten after Kavango strikes mineralisation in first and second drill holes under Karoo sand in Botswana

Kavango, which is exploring for a large-scale bushveld igneous-type mineralisation reports results from a second drill hole in Botswana.

The team which are highly experienced in the geology of the region have used geophysical data and remote sensing to establish drilling locations.

Remarkably, the first drill hole hit mineralisation under the sandy Karoo sediments
Even more remarkably the second drill hole is reported to have also hit mineralisation including copper in chalcopyrite with a 1.5% XRF gun reading. X-Ray Frequency gun readings are not considered to be reliable due to their potential for miss-reporting but we do place some value on the readings when in the honorable hands of Messrs. Foster and Moles.

The first drill hole hit a 200m zone of intensely altered rock with indicative cobalt values of up to 0.9%, averaging 0.2% cobalt and >70m of elevated copper, zinc, lead and nickel values.

Conclusion: Kavango is worth watching and we await results from drill core assays. While we never doubted the skill of the geological team we are surprised and impressed to see two sets of mineralised results in so short a time frame. Well done team!

[cashandcard] 16/5/2019 09:34

Having looked up some old interviews and gone through the listing docs, I am impressed with the managements quiet, hardworking style. The initial two holes seem to have confirmed their thesis about KSZ. I guess its all about getting the assay results in now and follow up appraisal and exploration to leave no doubts about the economic merits of the assetbase.


Cash

[greatfull dead] 16/5/2019 09:30

Yes your correct...

ATB,
GD

[catsick] 16/5/2019 09:13

Yes we need the assays to prove they hit the royal flush , then this will explode ...

[greatfull dead] 16/5/2019 08:36

Surprised at the limited reaction (AMOUNT OF BUYS) to an excellent piece of news. KAV can not be on many investors radars yet...

GLA,
GD

[greatfull dead] 16/5/2019 07:59

Another area of huge possibilities. Can ask for any more at this stage. Assay on would be good though on core at DitDDH1...

GLA,
GD

[catsick] 16/5/2019 07:56

Yes 320m * 5km * 7 km = abt 20 billion tons = resources in the trillions of dollars...... (-:

[skiboy10] 16/5/2019 07:53

Six weeks ago"It's fairly early stage but I haven't seen alteration of that quality for a very long time so this is reminiscent of Olympic Dam style mineralisation. We don't know exactly what it is that's down there but we are very excited about what we are going to find in the next week or two"https://youtu.be/1DRo0JXbsqY

[skiboy10] 16/5/2019 07:26

It looks BIG"The intersection of over 320 metres of intensely altered Karoo sediments above a gabbroic intrusive mirrors the alteration identified in DitDDH1, which lies 1.8km to the west.The Ditau prospect, which forms part of Kavango's KSZ Project, is underlain by magnetic and gravity anomalies that suggest a 7km x 5km intrusive body at depth. The alteration zone was discovered using ground based geophysical techniques."

[2prsimo] 16/5/2019 07:25

Excellent update - could explode here in the next few weeks if the assays are decent - very limited free float

[catsick] 16/5/2019 07:22

Hmmmm a drip of info, very nice interesting indeed , a huuuuge deposit , not confirmed by assay yet but they are hinting at a royal flush of gold silver pge cobalt nickel copper zinc and rare earths .....

[catsick] 16/5/2019 01:40

They still have enough cash in the bank for a good 5000m of drilling at least, but I think we will get some jv done and a much bigger drill program, going to be interesting, todays volume was close to the volume that went through on the 26mar rns , something brewing and leaking for sure ....

[skiboy10] 15/5/2019 17:34

Highest close since listing last year

[jone06] 15/5/2019 16:37

Close price monitoring extension. Could be a good day again tomorrow

[d220] 15/5/2019 14:34

I have added a total of around £12k today in 3 chunks and had to pay 3.74p. Doesn't seem to take much to push this higher. Hoping for some "market pleasing" news in the next few weeks!