Strategy/Company/Ops Update

RNS Number : 0539A

Kavango Resources PLC

07 September 2018

 

PRESS RELEASE

 7 September 2018

KAVANGO RESOURCES plc

BOTSWANA PERMIT RECEIVED - ELECTROMAGNETIC SURVEY TO COMMENCE

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 required permit for the airborne electromagnetic geophysical survey of its KSZ Project in southwest Botswana has been granted.

Highlights

·    Following the Company's RNS of 4 September 2018, Kavango is pleased to announce that a permit for the flying of the electromagnetic survey (VTEM) to be carried out over the licences in the Kalahari Suture Zone ("KSZ") area has now been granted by the Botswana Civil Aviation Authority;

·     A contract has been signed with a subsidiary of Geotech Airborne Geophysical Surveys of Canada to fly 2,000 line kms (Phase 1), with an option to extend the survey to 8,144 line kms (Phases 2 and 3). Phase 1 is expected to take 3-4 weeks, subject to weather conditions;

·    The VTEM survey is to commence shortly and the Company intends to provide regular feedback to market with regard to progress of this work and any material findings, notably with regard to target areas identified;

·    The KSZ Project comprises 12 prospecting licences over an area of almost 7,000km² in the southwest of Botswana that covers much of a 450km long structural/magnetic feature along which Kavango is exploring for Ni-Cu-PGE rich sulphide orebodies;

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

Michael Foster, Chief Executive Officer of Kavango commented:

"We are pleased to announce that the necessary permit has been granted which allows us to commence flying of the VTEM survey over the Kalahari Suture Zone prospecting licences in Botswana.

The area to be surveyed displays a geological setting with distinct similarities to the extensive Norilsk nickel, copper and platinum group element deposits in Siberia and our exploration programmes, historically and going forward, have been designed with this in mind.

This VTEM survey announced today is a key step in the targeting process for what is a considerable strategic area under the 12 prospecting licences held outright by the Company most notably the 450km long structural/magnetic feature previously identified.

Flying is expected to commence shortly and we look forward to updating the market with material developments as this work is undertaken."

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                                           

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