Kavango Resources PLC - London-based, Botswana-focused metals exploration company - Starts follow up discovery drilling at its Prospect 2 target in the Hillside gold project in Zimbabwe. Chief Executive Ben Turney says: ‘The next phase of discovery drilling at Hillside is extremely important for Kavango. We will follow up on the significant success we had with Hole BRDD001 at our Prospect 2 target. This intercepted a 7.2m gold mineralised zone that returned an average grade of 9.95 [grammes per tone]. This zone has been exploited on surface and was intersected at an approximate vertical depth of 35m, which is in line with our exploration model searching for possible open-pit gold deposits.’ Adds: ‘What is especially exciting about this target is that if we are correct, it presents both a long-term bulk-mining opportunity and the chance for a near-term higher-grade open-pit.’ Further exploration holes will be announced at Hillside in due course.

Current stock price: 1.33 pence

12-month change: down 1.4%

Copyright 2024 Alliance News Ltd. All Rights Reserved.