Botswana electromagnetic survey Phase1 complete

RNS Number : 9674D

Kavango Resources PLC

15 October 2018

 

PRESS RELEASE

 15 October 2018

KAVANGO RESOURCES PLC

BOTSWANA HELICOPTER-BORNE ELECTROMAGNETIC SURVEY PHASE 1 COMPLETED - POSITIVE INITIAL RESULTS

Kavango Resources plc ("Kavango" or "the Company") (Ticker LSE: KAV), the exploration group listed on the Standard List segment of the main market of the London Stock Exchange and targeting the discovery of world class mineral deposits in Botswana, is pleased to announce that Phase 1 of the airborne electromagnetic geophysical survey at its KSZ Project in southwest Botswana has been completed and 26 conductive anomalies have been identified from the Phase 1 programme.

Highlights:

·     Following the Company's announcement on 13 September 2018, Geotech Airborne Geophysical Surveys of Canada has now completed Phase 1 of the electromagnetic survey (VTEM) over the Company's Kalahari Suture Zone Project ("KSZ") in southwest Botswana;

·     Initial results from Phase 1 of the survey covering 2,000 line-kms in the Hukuntsi area of the KSZ project has identified 26 conductive anomalies some of which coincide with geochemical anomalies that have been previously discovered by the Company;

·     These conductive zones could indicate the presence of sulphide orebodies; these zones have now been prioritized for ground based follow up that includes CSAMT resistivity and Induced Polarisation (IP) geophysical surveys;

·     In parallel, an IP survey is also underway at the Ditau prospect, which forms part of the KSZ project, where earlier exploration by the Company identified coincident geophysical and base metal anomalies; subject to results, drilling could commence before the end of the year;

·     The airborne electromagnetic survey will continue after the Company has completed its full assessment of all the conductive zones identified during Phase 1.

Michael Foster, Chief Executive Officer of Kavango commented:

"We are pleased to be able to report that the initial survey results show that various VTEM anomalies coincide with significant geochemical anomalies.

Priority targets are now being followed up on the ground with CSAMT resistivity and Induced Polarisation (IP) geophysical surveys. Similar work has commenced at the Ditau licence which forms part of the KSZ project.

We believe the under-explored area of the KSZ holds potential for the discovery of world class base and precious metals deposits and we look forward to announcing further results in due course".

For further information please contact:

Kavango Resources plc
Michael Foster	[phone]
[e-mail]
City & Westminster Corporate Finance LLP	[phone]
Nicola Baldwin

SI Capital Limited (Broker)                                                                                 [phone]

Nick Emerson / Alan Gunn              

Notes for Editors:

Kavango's 100% subsidiary in Botswana is the holder of 12 prospecting licences covering much of the KSZ magnetic anomaly that is approximately 450km long and where Kavango is exploring for Ni-Cu-PGE rich sulphide orebodies. 

The area being surveyed displays a geological setting with distinct similarities to the extensive Norilsk nickel, copper and platinum group element deposits in Siberia.

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

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