Kalahari Metals

Summary of the Assets

Details of the seven exploration licences which are focus of the KML joint venture are set out in Table 1 and the figures below. The concessions form two separate contiguous blocks of ground. Both licence blocks are at the early exploration stage, however they represent a significant land holding along strike of advanced and exploration-stage copper projects, including the JORC compliant MTR/MOD owned T3 Deposit (36.0Mt @ 1.14% Cu & 12.8g/t Ag) and the privately held Cupric Canyon Capital (“Cupric”) Boseto Project (177 Mt at 1.3% Cu), Zone 5 Deposit (100Mt @ 1.95% Cu & 20g/t Ag) and Banana Zone (191Mt @ 0.6% Cu) deposits.

Eastern Block (the Okavango Copper Project):

  • Licences: KML held PL148/2017 and PL149/2017 adjacent to Triprop held PL043/2012, PL042/2012 & PL041/2012.
  • Location: Concessions are adjacent to those currently held by Cupric, 50km NE of Cupric Zone 5 Deposit (100.3Mt @ 1.95g/t Cu & 20g/t Ag); 170km NE of MTR/MOD T3 Deposit (36Mt @ 1.14% Cu & 12.8g/t Ag).
  • Geology: covers the north-eastern continuation of the Kalahari Copper Belt (“KCB”) along the strike of the Ghanzi Ridge which consists the Neoproterozoic Ghanzi Group sediments which hosts the main known copper deposits in the Botswanan belt.
  • Work completed:
    • Orientation soil geochemical sampling.
    • Scout drilling.
  • Prospectivity: Magnetic geophysics data indicates that the target contact zone between the D’Kar and Ngwako Pan Formations extends into the block under cover and that favourable domal structural positions are present. In particular, the southern part of Licences PL148/2017 and PL149/2017 are located within the Central Structural Corridor (“CSC”) which extends SW through MTR/MOD JV Licences toward Namibia. The presence of later stage major dyke swarms trending NW-SE cross-cutting perpendicular to the CSC, introduces additional secondary structures and potential heat sources into the copper bearing formations.

 Western Block (the Ngami Copper Project):

  • Licences: Triprop held PL035/2012 & PL036/2012.
  • Location: covers the prospective ground along the northern edge of the KCB and abuts the MOD Resources (MOD) and MTR/MOD JV concessions. Circa 50km NW of T3 Deposit, 100 km SW of Boseto (177 Mt at 1.3% Cu) and 70 km west of Cupric’s Banana zone (191Mt @ 0.6% Cu).
  • Geology: Inferred basement geology consists of D’Kar and Ngwako Formations and their contacts.
  • Work Completed:
    • High resolution airborne magnetics geophysics survey (11,693 line-km at 75m spacing) & interpretation.
    • Orientation soil geochemical sampling (10,486 samples collected along profiles perpendicular to the D’Kar contact).
    • Scout drilling (20 holes, 2,047m drilled).
  • Prospectivity: Scout drilling confirmed the presence of the D’Kar and Ngwako Pan Formation contact zone and three holes intersected significant copper mineralisation above 0.5% Cu including 1m @ 0.69% Cu in hole TRDH14-11 and 1.8m @ 1.80% Cu & 8.2g/t Ag in hole TRDH14-16A (apparent thicknesses), see also Table 2 below. The stratigraphy, lithologies and mineralisation described in the drill hole logs are similar to those  found in MTR/MOD neighbouring JV Licences.

Table 1: Details of Exploration Licences in the KML Joint Venture

Licence ID

 

Holder

 

KML Earn-in

 

Valid for

 

Valid from

 

Valid to

 

Duration (years)

 

Licence Area (km”)

 

Work Area Block

PL148/2017

KML

100%

Prospect Metals

01-Jul-17

30-Jun-20

3

998

Eastern

PL149/2017

KML

100%

01-Jul-17

30-Jun-20

3

998

Sub-total:

1,996

 

 

PL035/2012

Triprop

100%

Base Metal, Precious Metals & PGM's

01-Apr-18

31-Mar-20

2

756

Western

PL036/2012

Triprop

100%

01-Jan-18

31-Dec-19

2

252

PL041/2012

Triprop

100%

01-Apr-18

31-Mar-20

2

103

Eastern

PL042/2012

Triprop

100%

01-Apr-18

31-Mar-20

2

483

PL043/2012

Triprop

100%

01-Apr-18

31-Mar-20

2

473

Sub-total:

2,067

 

Total Area

4,063

 

 

Table 2: Key drilling intersections from Triprop 2014 scout drilling programme (Western Block) (Source: Remote Drilling Services database 2015)

Drill Hole ID

Depth from (m)

Interval (m)

Cu (%) >0.5% Cu

Ag (g/t)

Weighted Composites

Mineralised Structure/Lithology

Width (m)

Cu (%)

Ag (g/t)

TRDH14-07

75.90

0.73

          0.50

1.0

 

Fracture/Siltstone

77.45

0.53

          0.60

1.0

Fracture/Siltstone

80.00

0.50

          0.55

1.0

1.1

0.57

1.0

Fracture/Siltstone

80.50

0.61

          0.59

1.0

Fracture/Siltstone

TRDH14-11

129.35

0.56

          0.54

1.0

Mineralised Vein/ Siltstone

131.50

0.51

          0.70

1.0

5.1

0.69

1.0

Carbonate Vein/ Mudstone

132.00

0.50

          0.78

1.0

Carbonate Vein/ Mudstone

132.50

0.41

          0.59

1.0

Carbonate Vein/ Mudstone

133.00

0.41

          0.64

1.0

Carbonate Vein/ Mudstone

133.40

0.50

          0.48

1.0

Carbonate Vein/ Mudstone

133.90

0.48

          0.51

1.0

Carbonate Vein/ Mudstone

134.40

0.27

          0.50

1.0

Carbonate Vein/ Mudstone

134.67

0.47

          0.71

1.0

Carbonate Vein/ Siltstone

135.10

0.44

          0.65

1.0

Fracture/ Siltstone

135.60

0.48

          1.10

1.0

Veinlet- Fracture/ Siltstone

136.10

0.59

          0.80

1.0

Veinlet-Fracture/ Siltstone

TRDH14-16A

117.60

0.54

          1.22

7.3

 

Quartz Vein/ Sandstone

171.20

0.23

          0.95

3.0

1.8

          1.81

            8.2

Quartz-Carbonate stringers/ Siltstone

171.60

0.66

          1.47

7.1

Disseminated / A Sheared Limestone

172.20

0.39

          0.52

7.6

Disseminated / Sheared Limestone

172.70

0.47

          3.78

12.7

Quartz Vein/Sheared Limestone

 

Figure 1. A map of the KML Licences in relation to the MTR/MOD JV Licences

Figure 2. A magnetics map with licence overlay showing the intersection of the Central Structural Corridor and Dyke Swarm