KSZ South new licences & extensive work programme

RNS Number : 7866N

Kavango Resources PLC

03 February 2021

 

PRESS RELEASE

3 February 2021

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

KSZ South new licences & extensive work programme

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce it has secured two additional prospecting licences in the Southern Section of the Kalahari Suture Zone (the "Southern Section" of the "KSZ") and commenced an extensive work programme.

Highlights

v Two new prospecting licences awarded in the Southern Section

-  The Company now has licences totalling 7,573.1km² on the KSZ.

v Through its work programme, Kavango will seek to develop its knowledge of the Southern Section to the same level as that of the northern (Hukuntsi Section). This will involve:

-  Re-logging cores from 149 historic drill holes

-  CSAMT and ground magnetic surveys

-  Ground geophysics

-  Development of a comprehensive 3D underground model

v Future field exploration to include:

-  Time Domain Electromagnetic (TDEM) surveys

-  Test-drilling of high-speed conductors, which may be large-scale magmatic sulphide deposits, identified within gabbroic intrusions

v Recruitment of new full-time geologist

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

"We have refined sophisticated exploration methods over recent years at Hukuntsi. It is now time to leverage that experience in the Southern Section of the KSZ.

The new licences strengthen our strategic position in the Kalahari Suture Zone. Given the size of our company, this represents a significant opportunity. We have already gathered compelling evidence that this region experienced extensive geological activity during the Karoo Age, which was conducive to the formation of large-scale magmatic sulphide deposits.

The new work programme will significantly widen our search in our efforts to discover commercial mineral deposits."

Exploration plans for the Southern Section

In H2 2020, Kavango applied for two new prospecting licences in the KSZ Southern Section to extend its existing ground holdings.

The Company is pleased to confirm that these licences have now been awarded and that Kavango has commenced an extensive new regional work programme.

The Company's first goal will be to create an initial 3D magnetic model of the Southern Section, using the exploration methods and data gathering techniques refined on the northern (Hukuntsi) section.

The Company has started compiling data from historic drill holes in the Southern Section. This includes 137 water boreholes and cores from 12 diamond drill holes.

In parallel Kavango will carry out ground magnetic and CSAMT surveys across the Southern Section, to map the area's geology and stratigraphy.

3D magnetic modelling using regional magnetic data, historic drill hole data, CSAMT data and ground magnetic data will be carried out, as soon as the Company has acquired all the necessary data sets.

Kavango expects to enhance the 3D model with follow up magnetic surveys together with the TDEM technology currently being deployed at Hukuntsi.

Kavango's strategic objective will be to identify high-speed conductors at depth, which are situated within gabbroic intrusions for test drilling.

To accelerate this new exploration programme, Kavango will recruit a new full-time geologist.

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

[e-mail]

First Equity (Joint Broker)

[phone]

Jason Robertson 

SI Capital Limited (Joint Broker) 

[phone]

Nick Emerson

Kavango Competent Person Statement

The information in this press release that relates to "geological and/or geophysical results" for the South Ghanzi Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc.

Note to Editors:

THE KALAHARI SUTURE ZONE

Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km² of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.

The area covered by Kavango's KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey's Bay (Canada). 

The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia's nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango's licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.

KSZ DEFINITIONS

High Speed EM Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.

Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit -

https://twitter.com/KavangoRes/status/1316004057895645186?s=20   

 

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