Strategic Licence acquisitions - Botswana

RNS Number : 6833E

Kavango Resources PLC

22 October 2018

 

PRESS RELEASE

 22 October 2018

KAVANGO RESOURCES PLC

STRATEGIC LICENCE ACQUISITIONS - BOTSWANA

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 the acquisition of three new prospecting licences ("PL's") to build further the Company's ground portfolio.

The acquisition of the new PL's follows completion of Phase 1 of the airborne electromagnetic (AEM) survey over the company's Kalahari Suture Zone ("KSZ") Project. Based on the Company's previous work, management believes it is strategically important that the Company secure additional ground to cover the key areas of prospectivity.

Highlights

·     On 15 October 2018 the Company announced completion of Phase 1 of the AEM survey which has identified 26 conductive anomalies;

·     Following completion of the survey, the Company's 100% owned subsidiary in Botswana has now been granted three additional PL's, extending the group's ground holding along the KSZ by a further 2,300km².

·     Two of the three new PL's are contiguous and immediately adjoin the northern area covered by Phase 1 of the AEM survey;

·     The Company now holds 15 PL's that cover approximately 80% of the KSZ, a 450 km long magnetic anomaly and where Kavango is exploring for Ni-Cu-PGE rich sulphide orebodies;

·     The Company's 15 PL's on the KSZ Project now cover a total of 9,231 km².

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

"Extending our land position to a total of 9,231 km² following the assessment of our recent work provides the Company with an important strategic ground holding on the highly prospective KSZ.

It is worth emphasising again that the KSZ is a 450km long under-explored magnetic feature of geological significance in the south west of Botswana.

Results of our on-going exploration programme in the KSZ area will be provided to the market in the near future, as they become available."

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 15 prospecting licences covering 9,231 km² of ground including most of the 450 km long KSZ magnetic anomaly along which Kavango is exploring for Ni-Cu-PGE rich sulphide orebodies. 

The area being explored displays a geological setting with distinct similarities to the Norilsk/Talnakh deposits in Siberia, host to the world's largest Ni-Cu-PGE mines.

Click on the link below for the location of the existing PL's (marked in red) and the new PL's (marked in blue) in southwest Botswana:

http://www.kavangoresources.com/images/Maps/Southwest-Botswana.png

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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