According to Kavango Resources PLC on Monday, an assessment of the Ditau property in Botswana revealed a potential high potential banded iron formation hosted lode gold model at the location.
After examining drill logs, core photographs, and assays, the mining company claimed to have located a potentially significant gold mineralizing region within a 100-meter-thick banded iron deposit.
Since there is a chemical trap for gold in the presence of sufficient iron, iron formations are crucial in creating gold deposits.
According to the company, such systems can support gold deposits with a capacity of millions of ounces. Therefore, it believes the formation has exceptional gold potential. Applications have been made for further permits for locations near Ditau that may be relevant.
Samples and other tests are being collected for additional analysis.
"For Kavango on the Ditau project, [the] report marks a substantial potential breakthrough. Although we didn't locate carbonatites as we had hoped, we are nevertheless excited about the possibility of a massive banded iron formation hosting a lode gold system, "Brett Grist and Jeremy S. Brett, executive directors, remarked.
