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Kavango Resources starts Ditau talks after rare-earth hints

The date of: 2019-09-17
viewed: 1

source:Proactive Investors UK

The Ditau project has turned up 10 magnetic ring structures and extensive areas of fenitization, both of which are prospective for the carbonatites that can host rare earth elements.

Kavango Resources PLC (LON:KAV) is in talks with “several” larger mining firms about forming a joint venture to develop its Ditau project in Botswana after drilling analysis suggested the potential presence of rare earth elements (REEs).

Following a two-hole February drilling programme at Ditau, which is made up of two prospecting licences covering a total area of 1,386 sq km, the company has been carrying out geochemistry analysis of the extensive zone of “highly altered” sediments.

Analysis of the drill core has indicated that the alteration was due to “fenitization”, which is associated with alkali magmatism and carbonatites, Kavango said in a statement on Monday, noting that carbonatites are a major source of REEs.

There were also 10 magnetic 'ring structures” identified around Ditau, which are also prospective for carbonatites.

Kavango said it now plans to assess the geophysical and geochemical characteristics of the carbonatites drilled into by Canadian miner Falconbridge in the early 1970s at a location less than 25km from Ditau in similar geology. 

“This will assist in the exploration for and discovery of carbonatites within Kavango's licences,” the company said.

Surveys will be carried out over some of the magnetic ring structures to identify carbonatite targets, with targets tested by relatively shallow and cheap percussion drilling, using funds already set aside.

“In order to offset the costs of a prolonged exploration programme, which may involve extensive resource drilling, Kavango has signed non-disclosure agreements with several major and mid-tier companies concerning possible future joint ventures.”

The Falconbridge orientation programme is expected to support these discussions.

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