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Kavango Resources - Restart of field exploration in Botswana

RNS Number : 3571A
Kavango Resources PLC
29 September 2020
 

PRESS RELEASE

 

29 September 2020

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

 

Restart of field exploration in Botswana

 

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the commencement of soil sampling across the Company's Joint Venture exploration licences in the Kalahari Copper Belt (the "KCB").

This marks an important next step in the Company's development, as it resumes field exploration in Botswana, following over six months of restrictions put in place in response to the Covid-19 pandemic.

 

Highlights

v Kavango's exploration manager has returned to Botswana having completed 14 days of mandatory quarantine

v Field exploration work recommenced on the KCB in early September. Work on the Kalahari Suture Zone ("KSZ") and the Ditau Project is scheduled to begin in October

v Kavango's exploration licences on the KCB include:

-    50% working interests in two prospecting licences, PL036/2020 and PL037/2020, to be held in a Joint Venture with Power Metal Resources (LSE:POW) (announced 21 September 2020), which cover 1,294km2

-    Earning in a 90% interest in two prospecting licences PL082/2018 & PL 083/2018, held in a Joint Venture with LVR GeoExplorers (Pty) Ltd ("LVR"), which cover 1,091km2

v Initial orientation soil sampling on the four licences, comprising of:

-    Sampling traverses 4km apart with sample stations at 100m.

-    On site testing of samples for metal elements with a portable XRF Analyser (Niton)

-    Shipment of samples to a laboratory in Johannesburg for further testing

v Follow-up ground magnetic surveying of identified deformation zones, over 25m intervals.

v Initial results expected Q4 2020

v Kavango and its Joint Venture partners plan to drill, once suitable targets have been identified

 

Michael Foster, Chief Executive Officer of Kavango Resources, commented:

"We are delighted to be able to restart field exploration in Botswana. The coming 12 months promise to be an extremely exciting time for Kavango.

Thankfully, the Covid-19 restrictions have not caused too much disruption to our business. Our planned focus over the last six months was to deepen our understanding of our various strategic projects, through detailed analyses of large data sets and physical drill cores.

One of our main goals was to identify high-priority targets for follow up ground based geophysical surveying. 

In line with our strategy for 2020-21, we have started work on our KCB Project and aim to complete an extensive soil-sampling programme by the end of the year. Our intention is then to move on to Ditau and the KSZ, where we plan to conduct high-powered ground loop surveys to pinpoint future potential high-impact drill targets."

 

Restart of field exploration in Botswana

Kavango's primary goal this year is to identify high-priority targets for drilling in 2021.

As reported on 13 May, fieldwork in Botswana was restricted as a result of the Covid-19 lockdown.

This was not too disruptive to Kavango's operations, as the Company had already planned detailed analysis of existing data gathered from the KSZ.

Now that that work is nearing completion, Kavango's exploration manager has returned to Botswana to recommence surveying and sampling across the Company's portfolio.

In the coming months, this will include:

-    Soil sampling across the Company's Joint Venture projects on the KCB

-    Ground-based, high-power, low frequency electromagnetic ("EM") loop surveys of selected targets on the KSZ

-    Orientation work at the Falconbridge carbonatites, 20km away from the Company's Ditau project

The Company is encouraged by the results of its data analysis over the UK summer and is confident that the sampling and surveying results will positively influence planning for future exploration and drilling.

Prospecting licences on the KCB

Kavango's KCB Project is located within an area of newly discovered sediment-hosted copper deposits, such as Cupric Canyon's Zone 5 deposit and MOD's T3 deposit, both of which are now being developed as mining operations. The KCB extends 1,000km by 250km from NE Botswana to central Namibia.

The Company's KCB Project comprises 4 licences in two separate Joint Ventures.

The first Joint Venture is with LVR GeoExplorers (Pty) Ltd ("LVR") and covers 1,091km2 over two prospecting licences, PL082/2018 & PL083/2018.

The LVR prospecting licenses are strategically located in the KCB and represent attractive exploration targets.

-    PL 082/2018 lies 30km north of MOD Resources' T3 mine development and is completely surrounded by MOD/Metal Tiger/Sandfire prospecting licences including their T5, T6, T9, T10, T14 and T15 targets. The prospecting licence lies astride the main Ghanzi - Maun tarred highway.

-    PL 083/2018 is close to the Namibian border south of the Trans-Kalahari Highway and adjacent to a block of PL's held by Kopore Metals Limited.

The second Joint Venture is with Power Metal Resources Plc and covers 1,294km2 over two prospecting licences, PL036/2020 and PL037/2020 (the "Power Metals JV"). These lie in a highly prospective area immediately south of the district capital of Ghanzi, along strike to the west of Sandfire Resource's T3 and A4 Dome copper-silver discoveries.

Kavango and its Joint Venture partners plan to drill, once suitable targets have been identified.

The position of Kavango's KCB Joint Venture prospecting licences can be viewed on the Company's website.

The KCB soil-sampling programme

Exploration across the Company's interests in the KCB will initially focus on soil sampling and geophysics, using CSAMT to identify dome structures that are known to host potential copper deposits.

For the initial orientation programme, soil samples are being taken at 100m intervals on lines 4km apart. The first sample lines are intended to map out the soil geochemistry across undeformed sequences of the late Proterozoic Ghanzi Formation sediments.

Samples are being collected and sieved in the field and transported back to Kavango's base camp to be tested for metal elements with a portable XRF Analyser (Niton).

Sieved samples, reserved for check analysis (or duplicates) and for comparison, will be sent for analysis to a laboratory in Johannesburg.

Initial results are expected in Q4 2020

Geophysical surveying

Kavango's geophysical team have identified a number of deformation zones within the KCB licences, which will be followed up once the orientation sampling has been completed. Some of these deformation zones can be viewed on the Kavango website under Project - KCB - and below:

https://kavangoresources.com/images/2020/09/28/kcb-pl036---magnetics.jpg

 

https://kavangoresources.com/images/2020/09/28/kcb-pl082---magnetics-geochem-lines.jpg

 

https://kavangoresources.com/images/2020/09/28/kcb-pl083---magnetics-geochem-lines.jpg

 

Ground magnetic surveying will be conducted at 25m intervals over the deformation zones to supplement the regional data. This will be supplemented by CSAMT surveying over structural/geochemical anomalies.

If results warrant, an Airborne EM survey will be considered.

Geology of the area is well known and the Company will work quickly towards test drilling of shallow targets, once it has been able to develop a geological model.

 

Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV.

 

For further information please contact:

 

Kavango Resources plc                                                                                     

Michael Foster

[email protected]

 

SI Capital Limited (Broker)                                                                          

+44 1483 413500

Nick Emerson

 

 

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