BOTS – KCB landmark drill contract signed

Kavango Resources PLC

14 May 2024

 

14 May 2024

Kavango Resources

("Kavango" or "the Company")

BOTS - KCB landmark drill contract signed

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce that it is has placed a drill contract for the first phase of stratigraphic drilling on the Kalahari Copper Belt (KCB) Karakubis Project.

Highlights

·    Contract placed for first phase of 5,000m diamond core drilling on the Karakubis Project tenements in western Botswana.

·    Program comprises 10-15 holes and is expected to commence in June 2024.

·    Contractor is Mitchell Drilling Botswana (Pty) Ltd ('Mitchell'), who have completed multiple successful diamond drilling programs in the KCB for other clients.

·    Mitchell is a subsidiary of Mitchell Drilling International, a contractor who have drilled over 5 million metres for mineral exploration across the world.

·    Drilling is designed to test stratigraphic position and structural features interpreted from heliborne electromagnetic (AEM) survey, previously reported (>>> 2 April 2024).

·    Drilling aims to follow up:

1.   Targets previously identified by a combination of historic AEM, and Induced Polarisation (IP) surveys, and geological interpretation on the recently acquired ENRG licences that were never drill tested, and;

2.   New targets being generated from interpretation of Kavango's AEM, magnetic and gravity survey flown in December 2023 and January 2024.

·    Drilling expected to last four months and will be undertaken in a phased programme starting with one rig and scaled up to two rigs drilling day and night shifts.

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

"This is Kavango's best prepared and most important drill campaign. We are pursuing large-scale copper targets in the Kalahari Copper Belt. Our primary objective is to prove a copper mineralising system exists in our Karakubis licences. If we are successful, this will be transformational for our business.

We look forward to working with Mitchell to deliver a rapid drill program to test the structures and trap zones our team has identified. This program will be delivered quickly, starting with one rig and quickly scaling up to a second rig. We expect to complete drilling within 4 months.

While there are no guarantees in exploration, the work our team has done maximises our chances of success. We enter this landmark drill campaign with a sense of growing optimism."

For further information please contact:

Kavango Resources plc

Ben Turney

[phone]

First Equity (Broker)

Jason Robertson

[phone]

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.

 

END