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Kavango surges on further evidence of 'Norilsk style' deposits at the Kalahari Suture Zone

The latest independent consultant's report on core samples from 2019's drilling campaign on the KSZ confirmed two more characteristics that KSZ shares with the PGMs-rich Norilsk deposits in Russia

Kavango Resources PLC -

Kavango Resources PLC (LON:KAV) saw its shares surge in early deals after an update on its Kalahari Suture Zone (KSZ) prospect.

The Botswana-focused mineral exploration company said the independent consultant’s report on the petrology and mineral composition of core samples from the 2019 drilling campaign confirmed two further characteristics of the geology of the KSZ that are shared by the Norilsk deposits in Russia, which host some of the world's richest mineralised zones of copper-nickel-platinum group metals.

The two shares characteristics are the presence of cumulate rocks and sulphide liquid fractionation.

“The observation of sedimentary grains of silica in the gabbro again confirms that Karoo sediments (including sulphur-rich coal measures) were incorporated into the magma. This is supported by the sulphur content of the samples which are generally well above average values for magmatic gabbro. For example, one sample recorded a sulphur value of 18,700ppm [parts per million],” Kavango said in a statement.

The consultant noted that all of the copper and some of the nickel resides in the sulphides, which suggests that free sulphur was available for the development of a dense copper-nickel rich sulphide (immiscible) liquid phase.

"The publication by our consultant, Dr Prendergast, of his report is an important step forward for the company, as it seeks to validate its exploration hypothesis that one or more 'Norilsk style' deposits exist in association with magmatic rocks along the KSZ structure in SW Botswana,” Michael Foster, the chief executive officer of Kavango Resources added.

“There now seems little doubt that there was enough sulphur in the magma to form a metal sulphide liquid phase. Dr Prendergast's report suggests that as much as 50% of the nickel and perhaps all of the copper in the magma may have precipitated as metal sulphides. The quantity of metal sulphide precipitated is a function of how much magma passed through the system on its way to the surface. All the indications suggest that it was in the order of several thousand cubic kilometres,” Foster explained.

“Where the metal sulphide was precipitated and eventually crystallised is now the main focus of the company's exploration. Geological modelling of the gabbroic intrusives in the Hukuntsi area identify areas of gabbro sill thickening similar to those associated with major orebodies at Norilsk. These zones of sill thickening are now being mapped and evaluated. Targets for ground-based low-frequency EM surveying are being selected and the surveys will be carried out once the Covid-19 restrictions have been lifted,” he added,

Shares in Kavango were up 10.4% at 2.65p in early deals.

Quick facts: Kavango Resources PLC

Price: 2.6 GBX

LSE:KAV
Market: LSE
Market Cap: £5.02 m
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