Invictus maps multiple drill ready prospects at Mzarabani
Invictus Energy (IVZ) has mapped multiple drill-ready prospects in the expanded licence area within the Cabora Bassa project in Zimbabwe.
It came following the company’s acquisition of new seismic data from the CB21 survey which uncovered high potential prospects and leads.
The new prospects were mapped along the southern basin bounding fault in the newly identified Basin Margin play.
The company said the fault displays similarities to the East Africa Rift, which saw material discoveries in the Lokichar basin in Kenya and Albertine Graben in Uganda.
In addition, large leads on trend with the Mukuyu prospect were detected along the basement high in the Central Fairway play.
Invictus will commence its maiden drilling campaign early this month, which will test both the play types through the Mukuyu-1 and Baobab-1 exploration wells.
Meanwhile, an independent prospective resource estimate for the Basin Margin prospects is underway with the company to provide an update upon completion.
Managing Director Scott Macmillan said he was pleased to expand the exploration footprint of the project.
“The exceptional results delivered through the planning and execution of the CB21 Survey has enabled us to mature this conceptual play initially identified on sparse vintage data to multiple drill-ready prospects which provides us substantial follow-up potential,” he said.
Shares in the company were up 3.92 per cent to trade at 26.5 cents at 11:42 am AEST.
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