19 April 2024
Kavango Resources
("Kavango" or "the
Company")
BOTS - Drill tender for KCB Phase 1
scope drilling
Kavango Resources plc (LSE: KAV), the Southern
Africa focussed metals exploration company, is pleased to announce
that it is tendering for the first phase of scope drilling on the
Kalahari Copper Belt (KCB) Karakubis Project with shortlisted drill
contractors.
Highlights
- A
first phase of 5,000m diamond core drilling is planned on the
Karakubis Project tenements in western Botswana.
-
Drilling will target the shallower Kara Anticline's potential
to be a copper mineralising system.
-
Drilling aims to follow up:
o Targets previously
identified by a combination of historic Airborne Electro Magnetic
(AEM), and Induced Polarisation (IP) surveys, and geological
interpretation on the recently acquired ENRG licences that were
never drill tested, and;
o New targets being
generated from interpretation of Kavango's AEM, magnetic and
gravity survey flown in December 2023 and January 2024
(announced
>>> 02 April 2024).
-
Scope of work for 10-15 diamond core holes has been issued to
the shortlisted contractors, with holes planned across multiple
targets.
-
Mobilisation of drill rig expected during Q2 2024, with May
targeted subject to drill rig availability.
-
Drilling expected to last four months.
- Kavango exploration team
presently conducting community liaison and making logistics
arrangements in readiness for mobilisation of the drill.
Ben Turney,
Chief Executive Officer of Kavango Resources,
commented:
"We are
moving quickly towards drilling in the Kalahari Copper Belt. This
is the most rigorous and promising exploration programme Kavango
has conducted in Botswana. We have a high degree of confidence in
the targets areas we've identified and our interpretation of the
structural geology.
We are in the
process of finalising specific drill targets and have moved ahead
with tendering for the drill contract, in anticipation of
commencing drilling as soon as we have decided on collar
locations.
As in
Zimbabwe, our team in Botswana has responded well to the
improvements we've made in the Company and is delivering strong
performance in the field. We look forward to providing a more
detailed update on drill targets in the near
future."
Figure 1: Map showing location of the Kara
Anticline target area within the Karakubis Prospecting Licences on
the KCB
Background on
previous work by ENRG Elements
On 7 December 2022, ENRG Elements ("ENRG"), the
vendor to Kavango of a 90% interest in six of the KCB Prospecting
Licences, announced that it had identified multiple high priority
targets.
The full original announcement from ENRG can be
read here:
https://yourir.info/resources/f0ec32b09eeed656/announcements/eel.asx/6A1127116/EEL_Announcement_6A1127116.pdf
Highlights from the then announcement
included:
· AEM
and Gravity Survey completed across the Kara Anticline on the
Ghanzi West Project in the emerging world class Kalahari Copper
Belt of Botswana.
·
Three domal features identified, similar to those discovered
along strike by Sandfire Resources Ltd at its Motheo Copper
Mine.
· AEM
data indicates the presence of carbonaceous units of the lower
D'Kar Formation, associated with the magnetic
domes.
· The
D'Kar Formation and Ngwako Pan Formation contact is known to host
the majority of copper/silver mineralisation across the Kalahari
Copper Belt.
·
Multiple high-priority structural targets for drilling were
identified following review of the AEM data.
Kavango's technical team has confirmed this
analysis, and as the targets were never drill tested plan to
include the highest ranked of these targets in the current drill
program together with new targets developed over Kavango's recent
AEM, Magnetic and Gravity survey area.
Kavango will continue to review data from the
deeper Karong Anticline and await drill results from this campaign
before deciding on next steps for exploration here.
For further information please
contact:
Kavango
Resources plc
Ben Turney
+46 7697 406 06
First Equity (Broker)
Jason Robertson
+44 207 374 2212
Kavango
Competent Person Statement
The technical information contained in this
announcement pertaining to geology and exploration have been read
and approved by Brett Grist BSc(Hons) FAusIMM (CP). Mr Grist
is a Fellow of the Australasian Institute of Mining and Metallurgy
with Chartered Professional status. Mr Grist has sufficient
experience that is relevant to the exploration programmes and
geology of the main styles of mineralisation and deposit types
under consideration to act as a Qualified Person as defined in the
2012 Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. Mr Grist is an
employee of Kavango Resources plc.