Invictus Energy (ASX:IVZ) - Managing Director, Scott Macmillan
Managing Director, Scott Macmillan
Source: The Market Herald
Market Herald logo


Be the first with the news that moves the market
  • Invictus Energy (IVZ) encouraged by processing results from seismic survey across the Cabora Bassa Project in Zimbabwe
  • The company wrapped up the survey earlier this month, acquiring around 840 kilometres of high resolution 2D Data 
  • The data revealed a variety of structural and stratigraphic features, which the company says has provided target areas for its upcoming drilling program 
  • Final interpretations are still pending, after which Invictus will begin selecting its drilling locations 
  • Shares have been trading flat at 14 cents

Invictus Energy (IVZ) has reported “encouraging” results from preliminary processing of a seismic survey undertaken across the Cabora Bassa project in Zimbabwe.

The project encompasses the Muzarabani prospect which IVZ says is potentially the largest, un-drilled seismically defined structure onshore Africa.

IVZ is advancing its current exploration program and completed a 839.3 kilometre infill seismic data acquisition campaign earlier this month with the aim of refining drilling locations.

Processing of selected lines is being undertaken by EarthSignal and has reportedly shown strong amplitude anomalies in shallow sections of the Muzarabani structure and basin margin fault.

In conjunction, previous survey data acquired by Mobil in the 1990s is set to be reprocessed by EarthSignal to integrate the legacy dataset and apply insights to the entire Cabora Bassa Basin.

Invictus’ Managing Director Scott Macmillan said the initial processing results reveal features that provide for a target rich environment for the upcoming drilling program.

“The early indications from the preliminary seismic processing are very encouraging and particularly the strong amplitude anomalies observed in the Muzarabani structure and along the basin margin fault.”

“These initial results are encouraging as we progress with the selection of optimal drilling locations for the upcoming drilling campaign scheduled for the first half of 2022.”

Shares were trading flat at 14 cents at 9:48am AEDT.

IVZ by the numbers
More From The Market Herald
icetana Limited, ICE - CEO, Matthew Macfarlane

" icetana Limited (ASX:ICE) signs Memorandum of Understanding with Threat Protect (ASX:TPS)

icetana Limited (ICE) has signed a memorandum of understanding with Threat Protect Australia (TPS).
Pan Asia Metals (ASX:PAM) - Managing Director, Paul Lock

" Pan Asia Metals (ASX:PAM) announces latest drilling results from Reung Kiet lithium project, Thailand

Pan Asia Metals (PAM) has released lithium drill results for four holes from its Reung Kiet project in southern Thailand.
APM (ASX:APM) - CEO, Michael Anghie

" APM Human Services (ASX:APM) expands, acquiring Lifecare

APM Human Services International (APM) has acquired physiotherapy and home care group Lifecare for $68 million.

" Celamin (ASX:CNL) secures commitments to raise $3.2m

Celamin Holdings (CNL) has secured binding commitments to raise $3.2 million at 7.5 cents per share. The company will issue up to 42.6...