Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said it has identified a gold mineralising system at Target i10 at the Ditau Camp project in southwestern Botswana.
Analytical results including gold fire assays from Hole DITDD004 demonstrated the presence of gold associated with hydrothermally altered rocks.
“Gold had never been discovered in this area, but our geological team maintained an open mind during drilling,” said chief executive Ben Turney. “On seeing extensive disseminated sulphide in the core of DITDD004, we decided that fire assays (for gold) would be an appropriate step.”
Kavango is the operator of the Ditau project, a joint venture with Power Metal Resources PLC (AIM:POW).
Kavango said its "Zone of Interest", characterised by a typically high iron content, has been extended to 100.79 metres (m), from a depth of 292.6m to when drilling stopped on the hole at 393.29m.
“This system remains open in all directions as well as at depth, offering prospective potential for the future,” said Turney.
Multiple (non-continuous) gold values were encountered within this zone, with a peak grade of 0.175 parts per million (ppm) gold over 2m from a depth of 312.00m. The company reported that 11 values of greater than 0.05ppm gold were found, typically in 1m intervals, between 304.00m and 345.50m.
Kavango said it is awaiting the results of petrological work, which will give it a better understanding of the origin of the gold values, before planning its next exploration phase.