Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said it identified two major drill targets at its Kalahari Copper Belt (KCB) licence PL082/2018.
A large-scale, high-resolution soil sampling program identified two targets - Northern Zone and Central Zone - with peak value of 118.8 parts per million (ppm) copper anomalies, the Botswana-focused metals exploration company said in a statement.
Both targets also have widespread elevated zinc values, it said.
The geochemical anomalies conform with the underlying geology previously mapped by Kavango and there is a strong indication of in-situ mineralisation, the company noted.
It said licence PL082/2018 is a potential analogue to Khoemacau's Banana Zone deposit, immediately to the south of Ghanzi Ridge, which has a total high-grade resource of 55.8 million tonnes (Mt) at 1% copper (Cu) and 16.4 grammes per tonne (g/t) silver (Ag).
"Leading on from the work completed on PL036/2020, as reported on 3 August 2022, our team has worked rapidly to complete a further substantial soil sampling program on licence PL082/2018, under the Kavango earn-in agreement with LVR Geoexplorers,” said Kavango CEO Ben Turney.
“The presence of anomalous values to 118ppm copper is significant in terms of this project's prospectivity. These results, combined with the mapped geology and the existing Kavango AEM data, has enabled us to identify two targets of considerable strike length (8km and 27km) to test with drilling. Our targets have notable similarities with other recently drilled targets in this area.”
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The company will carry out a review of existing data, limited infill soil sampling and static seismic surveys, which will be followed by a reverse circulation (RC) drill program on the two targets.
Kavango said a targeting program remains ongoing on the Mamuno licence with results expected shortly.