New Vox Markets Podcast out now discussing: First Class Metals #FCM, Technology Minerals #TM1, Revolution Bars #RGB
Alan Green, CEO of Brand Communications talks about the football world cup, including the upcoming England vs Wales and discusses the following companies:
– First Class Metals #FCM
– Technology Minerals #TM1
– Revolution Bars #RGB
https://www.voxmarkets.co.uk/articles/alan-green-talks-about-revolution-bars-first-class-metals-technology-minerals-8daf582
Kavango Resources PLC #KAV – Holding(s) in Company
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GB00BF0VMV24
Issuer Name
KAVANGO RESOURCES PLC
UK or Non-UK Issuer
UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Purebond Limited
City of registered office (if applicable)
Wembley
Country of registered office (if applicable)
England
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
25-Nov-2022
6. Date on which Issuer notified
25-Nov-2022
7. Total positions of person(s) subject to the notification obligation
|
. |
% of voting rights attached to shares (total of 8.A) |
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2) |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer |
|
Resulting situation on the date on which threshold was crossed or reached |
12.047009 |
0.000000 |
12.047009 |
85,000,000 |
|
Position of previous notification (if applicable) |
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
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Class/Type of shares ISIN code(if possible) |
Number of direct voting rights (DTR5.1) |
Number of indirect voting rights (DTR5.2.1) |
% of direct voting rights (DTR5.1) |
% of indirect voting rights (DTR5.2.1) |
|
GB00BF0VMV24 |
85,000,000 |
12.047009 |
||
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Sub Total 8.A |
85,000,000 |
12.047009% |
||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
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Type of financial instrument |
Expiration date |
Exercise/conversion period |
Number of voting rights that may be acquired if the instrument is exercised/converted |
% of voting rights |
|
|
||||
|
Sub Total 8.B1 |
||||
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Physical or cash settlement |
Number of voting rights |
% of voting rights |
|
|
|||||
|
Sub Total 8.B2 |
|||||
9. Information in relation to the person subject to the notification obligation
1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.
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Ultimate controlling person |
Name of controlled undertaking |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
|
Solai Holdings Limited
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Purebond Limited |
12.047009 |
12.047009% |
|
|
|
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
(1) Purebond Limited is a 100% Subsidiary of Solai Holdings Limited.
(2) 3 Named Directors of Solai Holdings Limited off which 2 are also Directors of Purebond Limited are also Trustees of Solai Pension Scheme which has 0.141730% (1,000,000 Shares) Voting Rights in Kavango Plc.
12. Date of Completion
26-Nov-2022
13. Place Of Completion
London
#FCM First Class Metals plc- Esa Property Geophysical (VTEM) Reinterpretation
First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK metals exploration company seeking large scale metal discoveries across its extensive Canadian Schreiber-Hemlo land holding and the Sunbeam Project, is pleased to provide an update on activities in respect to the Esa claim block.
HIGHLIGHTS
· VTEM reinterpretation by Paterson Grant Watson Limited “PGW” now completed.
· Reinterpretation further identifies potential east-west trending shear zone dissecting the central area of the property, the “Esa shear zone”.
· Esa is located just 11km Northeast of the Barrick Hemlo 23M oz gold mine.
· Ground reconnaissance has identified outcrop of sheared metamorphic rocks
· Field campaign completing multiple soil lines across the “Esa shear zone” underway with results pending.
Esa
The Esa property covers 20km² and is situated just 11km north of the iconic Hemlo gold mine operated by Barrick Gold (>23M oz Au) which after over thirty years of continuous production remains one of Canada’s most prolific producing gold mines. Hemlo is a sheared-fractured-folded, disseminated-replacement-stockwork deposit, located at a felsic volcanic-sedimentary rock interface, with sulphides in a structural regime. Metamorphism has overprinted the system. Pluton emplacements as well as intrusions of variable age and composition may have played a role in metal deposition or reworking, see Figure 1.
Figure 1- Esa Property regional location with FCM North Hemlo to the north and the Barrick Williams 23m oz Au mine in the south
FCM recently engaged Paterson Grant and Watson Ltd. ‘PGW’ to undertake a re interpretation of the VETEM acquired over Esa. This report has now been finalised and it comments “Exploration at the Esa property focuses on shear-zone hosted, stratabound gold mineralization found within the metasedimentary unit. The genetic model is considered similar to the Hemlo gold deposit.” The report further comments: “Through the centre of the property, the proposed Hemlo-style shear zone trends roughly WNW-ESE and is associated with a magnetic anomaly of approximately 60 nT within the Esa/Soturi block magnetic data. The anomaly is approximately 350 m wide and is identifiable within the Hemlo survey data for approximately 5 km to the west and 4.5 km to the east of the Esa property as a regional arcuate structure…………and:
Mineralization within the property appears closely related to a series of N-S trending magnetic anomalies which may be related to the Marathon, Kapuskasing or Biscotasing dyke swarm. Numerous high geochemical Au assay values occur along these anomalies and at the intersection of these anomalies and WNW-ESE interpreted faults”, see Figure 2 and 2a”
Figure 2 and 2a-Reinterpretated PGW VTEM showing interpretated shear zone bisecting the Esa Property and 3D block model interpretation highlighting the deep seated N-S anomaly
PGW also indicated that whilst the magnetic component of the survey was instrumental in their (re)interpretation the VTEM added little. The strong geophysical response dissecting the property has been in part ‘ground-truthed’ and supports the interpreted presence of a shear. The inferred shear is also identified on adjacent properties: to the west, trending on to Esa, whilst its continuation east coincides with reported anomalous gold values. This inferred Esa shear crossing the property in an arcuate roughly east west orientation has formed the focus of field work to date. Rock samples of boulders were identified as sheared sulphitic mafic rocks. It is worth noting that owing to ground cover, both forestation and Quaternary gravels, there is a paucity of exposure generally across the property. However, significantly, the shear has now been identified in outcrop in the eastern sector of the property.
The following comment from Dr Tony Starling (Telluris Consulting Limited) reaffirms and supports the Esa shear interpretation being adopted by the Company. Dr Tony Starling is a world-renowned expert in structural geophysics. Previously Telluris had been contracted by FCM to carry out a structural geological review of the both the Esa & North Hemlo project areas and their wider environs.
“The PGW report interprets the arcuate near E-W linear anomaly as a shear zone (the Esa shear zone) as suggested by its slightly wider, more diffuse response in the geophysics, which makes sense.”
Telluris Consulting Ltd
Dr Tony Starling is founder and Managing Director of Telluris Consulting Ltd. Telluris Consulting is a geological consultancy established in 1993 that specialises in the application of structural and alteration studies with bespoke image processing with extensive experience in Archean settings.
More recently FCM is exploring the use of proprietary algorithms based on remote sensing (Aster imagery) to further explore the potential of the Esa (and North Hemlo) blocks.
FCM has a field team finalising a soil sampling programme along the inferred surface expressions of the shear, see Figure 3; whilst in parallel the team continued the systematic prospecting of the claim block. 8 soil lines orientated north – south and one oblique line across the property west to east over roughly 4km of strike are near completion.
Figure 3-Map of the soil sample lines.
The 5 western lines crossed the magnetic feature in the western portion of the property. The 4 eastern lines were in the vicinity of sheared pyritic boulders and the intersection with a major N-S feature; hence the last soil line being orientated oblique to both structures.
Across the Esa property in this season’s campaign over 450 soil samples and 10 rock samples will have been collected. Results will be reported when final assays for all elements are received.
Marc J. Sale CEO First Class Metals said: “I am delighted that for negligible cost to FCM to have gained and contracted a reinterpreted of the full set of geophysical including VTEM data. The PGW reinterpretation is significant due to its findings giving credence to the postulated theory an inferred ‘Hemlo style’ arcuate east west shear across the property. This reinforcement has led us to undertake very late into the season a soil sampling campaign that extended previous work and now covers the entire length of the shear. I am grateful to the field team for their efforts in indulging me during progressively worsening conditions. I look forward to receiving the assay results of the soils and interpreting the data it provides into our model”.
For further information, please contact:
First Class Metals PLC
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James Knowles, Executive Chairman |
07488 362641 |
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Marc J Sale, CEO |
07711 093532 |
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Ayub Bodi, Executive Director |
07860 598086 |
First Equity Limited
(Financial Adviser & Broker) Jonathan Brown
Jason Robertson 02073742212
Quoted Micro 28 November 2022
AQUIS STOCK EXCHANGE
One Health Group (OHGR) joined the Apex segment of the Aquis Stock Exchange on 24 November. The NHS-funded medical procedures provider raised £1.56m at 150p a share, giving One Health Group a market capitalisation of £15.1m. The share price ended the week at 156.5p. Demand for the company’s services should continue to be strong as the NHS tries to reduce the backlog of operations. In the six months to September 2022, revenues were £9.7m. The plan is to pay 50% of post-tax profit in dividends. Net cash was £3.68m at the end of March 2022. The additional cash will provide working capital.
Electric vehicle drivetrains developer Equipmake Holdings (EQIP) edged up revenues by 3% to £3.71m in the year to May 2022. A much greater proportion of the revenues came from commercial and production contracts. The loss was more than trebled to £5.2m. There was still £1.88m of cash in the balance sheet and since then it raised £10m gross at 4.25p a share in its Aquis flotation. A partnership with an electrical aerospace specialist will generate initial orders for prototypes worth £400,000.
VSA Capital (VSA) has reiterated that it will report a first half loss. The Aquis corporate adviser is holding a showcase event for Aquis companies on 29 November.
Inqo Investments (INQO) has sold its investment in Zambia-based honey producer Bee Sweet Honey There was a ZAR950,000 loss on the investment.
Guanajuato Silver (GSVR) has made a partial early repayment of its silver and gold loans using 97,000 ounces of silver and 846 ounces of gold. In the three months to September 2022 produced 329,297 ounces of silver and 3,226 ounces of gold, while lead and zinc sales have become significant. The trend of quarter-on-quarter production increases is expected to continue.
Clarify Pharma (PSYC) has acquired £250,000 stakes in Nasdaq-listed companies Atai Life Sciences Inc (ATAI) and Compass Pathways (CMPS). Both companies are involved in developing psychedelic treatments.
AQRU (AQRU) is reducing the number of employees by three-quarters to save money. Monthly overheads will fall by 65%. Yields on the company’s cryptocurrency app are being reduced.
Cooks Coffee Company (COOK) has issued up to NZ$2m of convertible notes to wholesale investors. The cash will fund the growth of the café existing chain and acquisitions, as well as paying off some existing debt.
Ananda Developments (ANA) is seeking shareholder approval to acquire the 50% of DJT Group that it does not own, which has a licence to grow >0.2% THC cannabis for research. The cost is £3.2m in shares. The process of gaining approval to grow and manufacture medicinal cannabis has been formalised.
IamFire (FIRE) says investee company WeShop user downloads and transactions are increasing.
Marula Mining (MARU) has increased its stake in the Blesberg lithium mine from 5% to 100%. The cost is $1.7m. This is subject to regulatory approval. Mobile mining equipment and the majority of processing equipment is on the site and the infrastructure is being upgraded. First deliveries of lithium ore are expected in December.
Diesel additives supplier SulNOx Group (SNOX) has appointed Steele Environmental as a US distributor for shipping markets and land-based transportation and revealed a positive evaluation with Caspian Marine Services.
Invinity Energy Systems (IES) has cut the nominal value of its shares so that it can issue more shares. A 2.2 MWh energy storage sale has been made to the company’s Taiwan resale partner. That is ten Invinity VS3 batteries.
EDX Medical (EDX) announced a collaboration for the European cancer biomarker programme with Tianjin Bioscience. This should result in the development of cost-effective cancer tests.
MiLOC Group Ltd has changed its name to Crushmetric Group Ltd. A placing raised £22,000 at 20p a share.
A company owned by NFT Investments (NFT) chairman Jonathan Bixby and non-exec Mike Edwards have has acquired 20 million shares at 0.8p a share. Finance boss Rob Smith has purchased 724,503 Chapel Down Group (CDGP) shares at 25.5p each. A company associated with chief executive David Immelman bought 50,084 DXS International (DXSP) shares at 5.454p each.
Former Aquis-quoted company Jigsaw Insurance Services is recommending a 204p a share cash offer from insurance business consolidator PIB Group Ltd. There could also be additional consideration of 14p a share depending on completion accounts. That values the bid at up to £24.1m. Harrogate-based Jigsaw was formerly known as NCI Vehicle Rescue and it left what was then known as ISDX in February 2015, so it still comes under the Takeover Panel rules.
AIM
Michelmersh Brick (MBH) expects 2022 pre-tax profit to be ahead of expectations and it is acquiring pre-built brick products manufacturer and brick fabricator Fabspeed for an initial £6.25m. The Fabspeed acquisition will be earnings enhancing. There could be up to £2m more payable depending on performance over 24 months. A share buy back programme of up to £3m is being launched.
Tatton Asset Management (TAM) continues to generate impressive net inflows to its assets undermanagement. They were £907m in the six months to September 2022, helping to offset market declines. The 50%-owned 8AM Global added a further £1bn taking the group total to £12.3bn, which has already risen to £12.9bn in November. Pre-tax profit improved from £6.77m to £7.68m and the dividend was raised by 12.5% to 4.5p a share.
finnCap (FCAP) has ended bid talks with fellow broker Panmure Gordon. It was not possible to find a mutually acceptable structure or terms for the merger.
Osirium Technologies (OSI) is raising £1.53m at 2p a share and the cash will provide additional working capital and help the cyber security business reach cash breakeven earlier than previously expected. Annualised cost savings of £1m have been identified and £650,000 of these have already been implemented. Sales director Stuart McGregor is replacing chief executive David Guyatt and he will become executive chair instead. Allenby has increased its forecast 2022 revenues to £1.8m and slightly reduced the expected loss to £3.22m.
Tissue products manufacturer Accrol (ACRL) increased interim revenues by 64% to £121.1m through a combination of higher prices and volume growth. Net debt was £30.5m at the end of October 2022 and it could fall to £24.4m by April 2023. A full year pre-tax profit of £6.7m is forecast.
Omega Diagnostics (ODX) has received the £4m deferred consideration for the sale of the CD4 business. Net cash is expected to be £6.2m by the end of March 2022. This can be used to expand the health and food intolerance operations. The US is a market where more investment is planned. Omega Diagnostics remains loss making but could move into profit in 2023-24.
Electrolyser developer Clean Power Hydrogen (CPH2) is having problems with the design and operation of its cryostat unit in the MFE 220 test unit. Scaling up the unit has been a challenge. This delayed the expected October deliveries of two initial MFE 220 units. One customer has cancelled the order and is going with a rival electrolyser. A redesign of the unit should cure the issues. On the current forecasts, the cash could reduce to £3m by the end of 2024 and then rise the following year, but further delays could mean the cash reduces more quickly than expected.
Curtis Banks Group (CBP) is in advanced discussions concerning a bid from Nucleus Financial Platforms, which is conducting due diligence. Susan McInnes has been appointed as an independent non-executive director of Curtis Banks.
DeepMatter Group (DMTR) is the latest company with plans to cancel the AIM quotation because management believes that it will be easier to raise cash as a private company. The digital chemistry data analysis business says major shareholders support the plan. DeepMatter wants to raise £1m before leaving AIM and then a larger amount after the departure.
Trafalgar Property Group (TRAF) has moved into hydroponics. The residential property developer has acquired assets and leasehold premises from May Barn Horticultural Consultancy, which is controlled by Trafalgar Property director Dr Paul Challinor, for £30,000. Trafalgar Property will concentrate on assessing plant propagation requirements and studies on tissue culture of plant material. The current work is on lettuce varieties and hydroponic tomato seedlings, as well as seedlings of Nicotiana benthamiana for future development for cosmetics and pharmaceuticals.
Real Good Food (RGD) has secured additional financing of £2.5m from Hilco Private Capital, which lasts for 12 months and is in addition to the £6.3m from the Leumi ABL. This will help to fund restructuring and cost reduction.
Zanaga Iron Ore Company (ZIOC) is acquiring a controlling shareholding in the Zanaga iron ore project from Glencore Projects in return for shares that will give Glencore a 48.26% stake. Glencore can appoint two directors and is required to retain the shares for six months. Glencore has exclusive marketing rights for the iron ore produced at the mine. A general meeting will be held on 13 December to gain shareholder approval for the deal.
MAIN MARKET
Structural steel supplier Severfield (SFR) improved interim profit and it is continuing to improve in the second half. In the six months to September 2022, revenues improved from £195.9m to £234.9m through a combination of underlying growth and higher steel prices. Underlying pre-tax profit rose from £10.3m to £12.1m, including a doubled contribution of £600,000 from the India business. Net debt was £15.8m at the end of September and the interim dividend was raised from 1.2p a share to 1.3p a share. The UK and Europe order book is worth £464m and the India order book is £143m.
Devro (DVO) has agreed a 316p a share bid from Netherlands-based Saria, which has been interested in bidding for the sausage skins supplier since the beginning of 2022.
Cardiff Property (CDFF) increased NAV from 2549p a share to 2756p a share in the year to September 2022. The current share price is 2420p. The dividend was raised from 18.5p a share to 20.5p a share. There has been a downturn in confidence in the Thames Valley property market.
Alkemy Capital Investments (ALK) says its subsidiary Tees Valley Lithium has received full planning permission for Europe’s largest lithium hydroxide refinery in Teeside. This will supply the electric vehicle battery market. Production could commence in 2025.
National World (NWOR) has decided not to bid for Reach (RCH).
Motor dealer Caffyns (CFYN) improved interim revenues from £110.8m to £119m, although underlying pre-tax profit dipped by one-third to £1.6m. New car volumes were ahead of the market and there was a 12% decrease in like-for-like used car volumes. The interim dividend is unchanged at 7.5p a share.
Ross Group (RGP) has raised £136,000 at 1.5p a share. Ross has entered into a global exclusive supply chain management agreement with the Energy Group LLC in the US to manage green hydrogen production and projects. This could be the start of a significant business for Ross.
Andrew Hore
Alan Green covers Cora Gold #CORA & Blencowe Resources #BRES on this week’s Stockbox Research Talks
Alan Green covers Cora Gold #CORA & Blencowe Resources #BRES on this week’s Stockbox Research Talks
Technology Minerals #TM1 – Notice of AGM
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, gives notice that the Annual General Meeting of the Company (“AGM”) will be held at 15:30 GMT on Monday 19 December at the Courthouse Hotel London, 19-21 Great Marlborough Street, London, W1F 7HL.
The Notice of AGM, which contains a report from Chief Financial Officer, James Cable, regarding progress of the proposed acquisition of Recyclus Group Limited, and form of proxy have been posted to shareholders and will be made available on the Company’s website: www.technologyminerals.co.uk
Enquiries
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alex Stanbury, Chief Executive Officer |
+44 (0) 20 4582 3500 |
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Oberon Investments Limited |
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Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
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Arden Partners Plc |
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Ruari McGirr |
+44 (0)207 614 5900 |
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Gracechurch Group |
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Harry Chathli, Alexis Gore, Amy Stupavsky |
+44 (0) 20 4582 3500 |
Markets and Stocks – Doc Holliday talks to Alan Green
As we head towards Christmas, Alan Green and Doc Holliday talk markets and stocks. We discuss the macro events in the UK and the opportunities that Brexit and inflation could be throwing up for UK agriculture before we turn to stocks. Doc covers Harland & Wolff #HARL, ECR Minerals #ECR, Contango Holdings #CGO, Emmerson #EML, Longboat Energy #LBE, Poolbeg Pharma #POLB, hVIVO #HVO, Reabold Resources #RBD and More Acquisitions #TMOR.
#POW Power Metal Resources PLC – New Lithium Project – Ontario, Canada
Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the acquisition by staking of the 100% owned, North Wind Lithium Project (“North Wind” or the “Project”) located in Ontario, Canada.
The staking was completed through Power Metal’s wholly-owned Canadian subsidiary, Power Metal Resources Canada Inc (“Power Canada”).
HIGHLIGHTS:
· Following a detailed review of several publicly available provincial government geological databases and reports, Power Metal have staked a total of 5,788.5-hectares over a 16km long trend of highly anomalous lithium-in-lake sediment results.
· The North Wind Lithium Project is considered by the Company to be prospective for lithium (Li), caesium (Cs), and tantalum (Ta) (“LCT”) bearing pegmatite occurrences.
· The Project is ideally located less than 25km northwest of the town of Beardmore, Ontario, and is criss-crossed by multiple access roads which connect up to the Trans-Canada Highway located less than 40km away.
· This Project acquisition provides Power Metal Resources with a significant land holding which is prospective for LCT pegmatite occurrences within the stable and supportive mining jurisdiction of Ontario, Canada.
Paul Johnson, Chief Executive Officer of Power Metal Resources commented:
“The addition of the North Wind Lithium Project is a significant boost for Power Metal Resources as it provides the Company with a new and potentially high-impact lithium focused opportunity.
We consider that lithium as a commodity has a particularly bright future with high demand and constrained supply. In fact, the significant move higher in the lithium price has sparked considerable interest in available exploration properties around the world, and particularly those in safe jurisdictions.
It was a great achievement that through painstaking work, the Power Metal technical team have been able to identify this new opportunity and secure it through staking, one of the most cost-effective ways to secure new interests.
Further updates will follow as we advance our knowledge and set out exploration plans for the North Wind Lithium Project.”
ADDITIONAL INFORMATION:
The Project is located within the Onaman-Tashota greenstone belt, where historical exploration has traditionally focused on precious and base-metals – however the geology, in a provincial Open File Report (the “Report”), determined that the belt was prospective for LCT pegmatite occurrences – the main source of ‘hard rock’ lithium worldwide. 1
Other lithium explorers and operators within the region include Imagine Lithium Inc. (TSX.V: ILI) with their Jackpot Lithium Project (with a reported historical non-compliant resource of 2,000,000 tonnes at 1.09% Li2O), located 50km to the south of North Wind and Green Technology Metals (ASX: GT1) with their flagship Seymour Project (which hosts a JORC compliant total Mineral Resource of 9.9Mt at 1.04% Li2O) located approximately 65km to the northwest.
The Project is centred on a granitic intrusion, cut by numerous mapped dykes. Highly anomalous lake sediment results (detailed further below) suggest that a zoned LCT pegmatite system may be present but has never been investigated. North Wind was identified through detailed research and analysis by the Power Metal Resources technical team, utilising over 600,000 individual lake sediment sample points collected by the Ontario Geological Survey (OGS), who also prepared selected recommendations for exploration which were presented in the Report 1. Based on this data as well as information contained within the Report; the area encompassing the North Wind Project was selected for the strategic acquisition by staking.
The highly prospective and anomalous lake sediment data contained within the Project includes:
· Seven instances of >99th percentile (with respect to regional data) Li-in-lake sediment results (ranging from 18.63 to 34.95 ppm Li) with 34.95 ppm representing the 99.95th percentile result.
· Of those seven samples, six are >95th percentile for caesium (1.26 to 2.21 ppm Cs), with three >99th percentile (1.94 to 2.21 ppm Cs).
· The seven samples are also noted to be highly elevated in tantalum with results ranging between 0.6 and 0.9 ppm Ta.
The presence of anomalous, or highly elevated concentrations of lithium, caesium and tantalum from samples collected within the same water body suggest a nearby mineralised source, and therefore the Project represents a highly prospective target for LCT pegmatite occurrences. Further desktop analysis is currently underway, with a comprehensive Phase I Field Sampling Programme planned in Q1-Q2, 2023.
STAKING PROCESS:
A total of 278 Mining Claim cells were registered by electronic staking through the Ontario Mining Lands Administration System, covering a total area of 5,788.5-hectares for a total cost to the Company of CAD $13,900 (circa £8,500). The mining cells are 100% owned by Power Canada, a wholly owned subsidiary of Power Metal Resources plc. Each Mining Claim cell covers 20.82-hectares and has an annual exploration spend commitment of CAD$400 from year two onwards. The Project therefore has a total exploration spend commitment of circa £68,000 by the end of year 2 and then annually onwards, in order to keep all 278 Mining Claim cells in good standing.
A map showing the outline of the property, basic geological information and lake sediment results is below:
Fig. 1: Plan Map of the North Wind Lithium Project and Surrounding Area.
QUALIFIED PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
REFERENCE NOTES;
1: Cundari, R.M., Paju, G.F., Hinz, S.L.K., Tuomi, R.D., Fudge, S.P., Pettigrew, T.K., 2019, Ontario Geological Survey Open File Report 6352, Report of Activities, 2018 Resident Geologist Program.
#KAV Kavango Resources plc – KCB – CSAMT breakthrough
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) is pleased to announce an important breakthrough in its use of Controlled-Source Audio Magnetotelluric (“CSAMT”) surveys as an exploration tool in the Kalahari Copper Belt (“KCB”).
Over the last 12 months Kavango has refined and calibrated its use of CSAMT, across its project portfolio. The Company has now completed a programme of CSAMT surveys on KCB prospecting licence PL082/2018 (announced >>> 12 October 2022).
Line 4A is the longest line of CSAMT on PL082/2018 and extended beyond the licence boundary to the southeast, onto ground that hosts the Kronos occurrence (the “Line 4A Survey”) with the permission of holder Sandfire Resources (ASX:SFR). As Kronos is known to lie at the D’Kar/Ngwako contact zone, Kavango’s objective was to use this occurrence as a calibration point of known geology. The goal is to confirm the D’Kar/Ngwako Pan contact signature in the CSAMT data and then extrapolate this onto PL082/2018. This formational contact is recognised as the primary regional control of copper/silver mineralisation across the KCB.
Initial results of inversions of the CSAMT data from the Line 4A Survey appear to provide high quality vertical resistivity sections that identify sedimentary strata with good resolution, down to 4000m depth. This far exceeds expectations. Previously, at the Company’s Kalahari Suture Zone and Ditau projects, Kavango had achieved detailed resolution of sedimentary strata down to roughly 1000m depth. As such, the Company believes it has achieved a significant breakthrough in its proprietary application of CSAMT technology in the KCB.
If drilling demonstrates that Kavango can accurately map the D’Kar/Ngwako Pan contact from surface, using CSAMT, the Company believes this should substantially enhance its exploration programme in the KCB.
Further updates will be made, as Kavango interprets and analyses inversions of data taken from the lines 3, 4A, 6A and 8 surveys. The Company intends to use these results to calibrate its future use of CSAMT and enhance the ongoing drill programme on licence PL082/2018, which is targeting copper/silver mineralisation.
Jeremy S. Brett, Senior Geophysicist at Kavango Resources, commented:
“CSAMT applied to the Kalahari Copper Belt is showing impressive promise as a geophysical tool to detect the primary bedding and secondary brittle controls that are well known to control mineralization in the belt.
This method provides the detection of structure in vertical section and meshes well with the regional folding and faulting that can be interpreted very well from aeromagnetic surveys.
The combination appears to be very powerful for exploration targeting, and Kavango hopes to prove this via diamond drilling.“
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
Ben Turney
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson
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’.
The technical information contained in this announcement pertaining to geophysics have been read and approved by Mr. Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical Consultant, Jeremy S. Brett International Consulting Ltd. in Toronto, Canada. Mr. Brett is a member of the Professional Geoscientists of Ontario, the Prospectors and Developers Association of Canada, the Canadian Exploration Geophysical Society, and the Society of Economic Geologists. Mr. Brett has sufficient experience that is relevant to geophysics applied to the styles of mineralization and types of deposits under consideration to act as a Qualified Person as defined under the Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects.
