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New UK Investor Magazine podcast- Taylor Wimpey #TW, Tekcapital #TEK & Kavango Resources #KAV

investor

The UK Investor Magazine Podcast is joined by Alan Green as we delve into this market’s key themes and a selection of UK equities.

We start by exploring the current rally in equities and whether it is a bear market rally, or something that can be sustained. Markets welcomed the recent instalment from the Fed which sparked a rally, sending the S&P 500 up 10% from the lows and the NASDAQ up 16%.

UK house prices rose 11% year-on-year in July as the housing market shrugged off cost-of-living crisis concerns. However, the Nationwide Chief Economist pointed to signs of a softening which hit housebuilding shares heavily yesterday.

Today, Taylor Wimpey shares bounced back following a strong first half update. We look at their results and outlook for the second half of the year.

Tekcapital released half year results last week following their presentation at the UK Investor Magazine Investor presentation in July. The company is to IPO a number of their portfolio companies in the coming months which could increase their portfolios NAV.

We cover the latest update by Kavango Resources on their activities in the Kalahari Copper Belt.

Taylor Wimpey, Tekcapital, and a Bear Market Rally with Alan Green

Kavango Resources #KAV – Kalahari Copper Belt target definition PL036/2020

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) provides an update on drill targeting at its Kalahari Copper Belt (KCB) licence PL036/2020.

Highlights

–  Initial high-resolution, close-spaced soil geochemical programme complete at PL036/2020 (the “Targeting Programme”)

–  5,145  soil samples collected

–  Large-scale programme undertaken, giving high-resolution over target areas

–  Particular focus over mapped Ngwako Pan-D’kar formational contact

–  4 significant geochemical features consisting of +15ppm Cu anomalies (peak 110ppm) delineated (the “Targets”)

–  The 4 Targets appear to fit previously mapped geology, including the potential “fold nose” over Acacia

–  3 of the Targets conform to previously identified Acacia, Morula (western portion) and Happy target areas

–  1 new target area identified (“Kudu”) to the north east of Acacia

–  Kavango has provided a series of maps showing the Targets:

https://www.kavangoresources.com/media-library/news-release-media/rns03august2022

–  Follow up work to include:

–  Infill soil sampling

–  Upgraded interpretation of existing Airborne Magnetics and Airborne EM

–  CSAMT geophysics

–  RC drill programme

–  The Targeting Programme remains ongoing on licences PL082/2018 and on the Mamuno licence package.

–  Expected completion before end of August

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

“Through an intensive soil sampling program across our KCB licences, we have sought to achieve enhanced target resolution ahead of drilling. Not only have we achieved this, but through the close spacing of samples we have also identified a previously unidentified and prospective structure, which is now being followed up.

The combined soil sampling and geological mapping, which has recently successfully identified multiple instances of the key Ngwako Pan-D’kar formational contact in our licences, is helping us sharpen our drill targets. The next steps will be to upgrade our geophysical interpretation of data we acquired in 2021 and complete some infill soil sampling where necessary. Our goal is to ensure that when we drill the KCB, we will have the optimal chance of success.”

Kalahari Copper Belt Overview

As announced on 8 July 2022, Kavango Resources identified the presence of an important lithological control of copper/silver mineralisation in the KCB, across several of its prospecting licences. The feature that Kavango has located, the Ngwako Pan-D’Kar formational contact point, is closely associated with multiple copper-silver deposits and discoveries elsewhere in the KCB.

This formational contact represents a chemical Reduction-Oxidation (Redox) boundary between the underlying oxidised Ngwako Pan Formation and the overlying reduced D’kar formation. Economic grades of mineralisation can be found along or in close proximity to this contact due to intense shearing, folding, and tensional failure between the rock layers.

Most known deposits in the KCB share some common characteristics

–  Commonly localised in reduced horizons in the lower D’kar Formation and above the oxidised Ngwako Formation,

–  Mineralisation remobilised into the limbs of anticlinal dome and basin structures

–  Mineralisation locally remobilised along cross cutting structures into higher levels of the D’kar through veins and shear zones to form high grade copper deposits

KCB Exploration Strategy

Based on the Company’s understanding of the mineralisation models in the KCB, Kavango embarked on a 3-tier exploration programme:

1.  Understanding the geology using:

–  Aeromagnetics

–  Geological mapping

–  Satellite imagery interpretation

–  Lithogeochemistry

–  Petrology

–  Soil geochemistry

–  Drilling

2.  Identification of significant structures using:

–  Aeromagnetics

–  Satellite imagery interpretation

–  Geological mapping

3.  Detection of mineralisation using:

–  Soil geochemistry

–  Airborne electromagnetics  

–  Drilling

The Targeting Programme is currently in progress on PLs 036/2020, PL082/2018 and Mamuno Licences (PLs 049/2020 and PL052/2020).

Kalahari Copper Belt geochemical survey

 

 

Line spacing

Sample Station spacing

TotalPlannedSamples

Status

PL036/2020

Combined 400m and 800m

50

5201

Largely complete

PL049/2020 and PL052/2020

800m

50

1319

In progress

PL082/2018

800m

50

3179

In progress

 

Total

9699

Sampling Methodology

–  Excavation to 30-40cm below the surface

–  Sample is collected from bottom of hole and sieved to approximately 200g of -180um fraction

–  Sample is analysed using the company’s in-house Vanta XRF Analyser in geochemistry mode with three beams switched on for a total analytical time of 120 seconds per sample. Analyses are done using a desk-top docking station to ensure a consistent presentation distance between the sample and analyser window

–  Reference materials (of known values) are inserted after every 25 samples and at the end and beginning of each batch

–  Resultant data is then used to generate user factors for normalising the analytical results prior to interpretation

–  Selected samples are also sent to an independent laboratory in South Africa for multi-element analyses by conventional means

PL036/2020 soil geochemistry results

PL

Planned

completed

outstanding

PL036/2020

5201

5145

 

56

Remaining samples will be collected as and when access to land is available.

Four key copper-in-soil geochemical features have been delineated:

1.  Acacia

A wide anomaly around the central part of the fold nose of the ‘Acacia fold’. Possible source of this anomaly could be radial axial fold fractures, tapping into the Ngwako Pan/D’kar contact along the axis of a shallowly SW plunging anticline. Maximum value is 56ppm Cu, with 5 values above 20ppm Cu. Coincident Zn anomalism (+20ppm Zn) identified

2.  Morula (western portion)

A wide anomaly just south of the Acacia fold nose. Measuring 3km x 3km with a general NE-SW trend parallel to the regional stratigraphy. Maximum value is 38ppm Cu. A previous orientation survey associated this anomaly with a calcrete platform coincident with a drainage feature

3.  Happy

A low-tenor teardrop shaped anomaly to the south. 9km long and 1km at its widest. Best defined by the +15ppm Cu values. Maximum value is 25ppm Cu. Located in the centre of a possible anticline where the Ngwako Pan Formation is not exposed at surface. This anomaly has supporting anomalous Zn values (+20ppm Zn)

4.  Kudu

A previously unrecognised NE-SW trending zone of anomalous Cu values. 18km long (non-continuous) NE-SW trend, defined by 8 values in excess of 30ppm Cu; maximum value is 110ppm Cu. Trend is distinct and ‘tight’, defined by a maximum of 3 values above 20ppm at its widest. This trend is sub-parallel to stratigraphy

The narrow focus suggests this could be a steeply dipping feature, and/or a sharp structural feature such as a fault. It is also immediately adjacent to what Kavango’s geologists have mapped as a structural repetition of the key Ngwako Pan-D’kar contact

Kavango has provided a series of maps showing the Targets:

https://www.kavangoresources.com/media-library/news-release-media/rns03august2022

Planned follow-up for PL036/2020

–  Infill soil sampling

–  Ground truthing of the anomalous areas

–  Updated interpretation of existing Airborne Magnetic and Airborne EM data

–  Plans to carry out a Controlled Source Audio Magnetotelluric (CSAMT) survey and inversions aimed at elucidating subsurface structure

–  Collation and correlation of all the data sets

–  Generation of drill targets

–  RC drill programme

Ahead of drilling, further soil geochemical results are expected to be released by Kavango from work on its licences PL082/2018 (considered to be a possible analogue for the ‘Banana Zone’ deposit, which sits to the immediate south of Ghanzi Ridge and is owned by Khoemacau Copper Mining Pty Ltd), and on the Mamuno licences, adjacent to the border with Namibia, and close to the central axis of the KCB. The combined results will then be used for target ranking.

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

bturney@kavangoresources.com

 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’.

Kavango Resources #KAV July Exclusive – Alan Green discusses the Kanye Resources acquisition & independent valuation with CEO Ben Turney & CFO Brett Grist

In this exclusive Kavango Resources #KAV interview, Alan Green discusses the Kanye Resources acquisition & independent valuation with CEO Ben Turney & CFO Brett Grist. We discuss the independent valuation at $8m announced earlier today, and Brett then presents some of the opportunities across some of the Kanye assets in the Kalahari Copper Belt (KCB), followed by the LVR licenses also in the KCB. Ben then outlines the latest developments at the flagship Kalahari Suture Zone (KSZ), and the recent discovery of a cluster of three EM Conductors in close proximity to one another. Ben then wraps up with a series of upcoming milestones for investors to watch out for.

Vox Markets Podcast – Alan Green on Berkeley Group, Kavango Resources #KAV & ECR Minerals #ECR

Alan Green CEO of Brand Communications explains why we have humidity with high temperatures in the UK, the Conservative Party leadership contest and talks about the following stocks:

Berkeley Group #BKG 

Kavango Resources #KAV 

ECR Minerals #ECR

https://www.voxmarkets.co.uk/articles/alan-green-on-berkeley-group-kavango-resources-ecr-minerals-78d6934/

UK Investor Magazine podcast – Alan Green discusses markets, Whitbread #WTB, Kavango Resources #KAV & Sovereign Metals #SVML

Equities outlook, Whitbread, and Kavango Resources with Alan Green

Alan Green joins the UK Investor Magazine as we delve into the recent market volatility and explore the outlook for equity markets.

We start by looking at upcoming central bank action with the Federal Reserve and Bank of England poised to hike rates in the coming hours and days. Market expectations point to a 75 bps jump in US rates as the Federal Reserve meets this evening. Our focus shifts to the market perceptions of the tightening cycle and whether investors will take confidence from a ‘managed’ recession caused by rising rates, but allows for plenty of future easing with rates around 2%.

Whitbread have been a major beneficiary of the economic reopening and enjoyed a 300% year-on-year increase in sales, helping shares rise 5% on the day.

Kavango Resources is developing a series of projects in Botswana including the Kalahari Copper Belt and Ditau Camp project. We look at their recent updates and relationship with Power Metal Resources who are set to present at the UK Investor Magazine Summer Investor Evening 30th June.

Register for the UK Investor Magazine Summer Investor Evening here

Sovereign Metals are preparing to release an updated scoping study and we recap the key milestones to date and the significance of their Kasiya Titanium Rutile & Graphite project in Malawi.

Power Metal Resources #POW – Ditau Project – Drilling and Geophysics Update

Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces a drilling update in respect of the Ditau Camp Project (“Ditau”), located in southwestern Botswana. Ditau is considered prospective for carbonatite hosted rare-earth element (“REE”), base metal and possible precious metal mineralisation.

Ditau is held within a 50/50 Joint Venture (“Kanye Resources”) with London-listed Kavango Resources plc (LSE:KAV) (“Kavango”). Kavango is the operator.

Project Background

The third diamond core drill hole of the programme, drill hole DITDD005 on the i1 Target is now complete, and the drill rig has relocated to the i8 target, where drilling has now commenced on hole DITDD006. The final siting of DITDD006 followed the completion of a Controlled Source Audio-Magnetotelluric (CSAMT) ground geophysical survey and survey data inversion modelling.

The CSAMT survey imagery has provided enhanced interpretative model of the geology and structural setting of the i8 Target beneath the Kalahari sands and sediments. Images highlighting the i8 Target with a CSAMT section overlay can be found at the link below:

Ditau drilling and AMT update – Power Metal Resources plc (LON: POW)

Additionally, Kanye has shipped the first batch of drill core samples from hole DITDD004 for testing at a certified laboratory in South Africa, with fast-track analyses requested.

Highlights:

–    Diamond core drillhole DITDD006 has commenced on the i8 Target:

–    CSAMT survey completed over i8 has provided an enhanced targeting model enabling drill collar location, hole dip and azimuth optimisation.

–    The i8 Target is highlighted by a circa 4km diameter ring structure which was interpreted from airborne magnetic survey data.

–    This target was the subject of 5.5-line km of CSAMT surveying, using both high and low frequency configurations.

–    Inversion processing of the CSAMT data over the i8 Target, which was completed by an external geophysical consultant, has shown bedrock signatures below the i8 Target magnetic anomaly that are significantly different from the surrounding flat lying signatures which are interpreted to be sedimentary country rock. 

–    These geophysical signatures appear disturbed in dip and vertical position and are interpreted to relate to an intrusive body.  These signatures are significantly different to those seen in the CSAMT survey for the i10 and i1 Targets.

–    Drillhole DITDD006 is targeting the ring of the magnetic geophysics high, where it is coincident with resistivity geophysics high features, near the edge of the i8 Target.

–    Drillhole DITDD005, targeting the i1 Target, is now complete with a final down-hole depth of 343.9m.

–    DITDD005 intersected extensive conglomerate with a measurable magnetic mineral content.

–    The interpretation of these findings is to be aided by an expanded CSAMT survey programme – which includes additional line-km over the i1 target.

–    Update in respect of Drillhole DITDD004, targeting the i10 Target:

–    DITDD004 intersected thick successions of highly magnetic brecciated rock units, confirmed by magnetic susceptibility readings on drill core, with the magnetism interpreted as being related to hydrothermal alteration processes.

–    First batch of drill core samples have been cut and shipped for multi-element analyses (including select fire-assays), at a certified laboratory located in South Africa, with fast-turnaround ‘rush analysis’ requested.

–    Further sample batches from hole DITDD004 will be dispatched during the coming weeks.

–    A separate batch of samples for petrographic analysis are currently in preparation.

–    High frequency CSAMT geophysics survey underway on the i10 Target, with the purpose of augmenting the existing AMT survey dataset, to assist further modelling and interpretation of the range of lithologies intersected in the DITDD004 drill hole.

Paul Johnson, Chief Executive Officer of Power Metal Resources PLC, commented:

“The Ditau drilling is moving at significant pace through the key targets and today we announce the commencement of hole DITDD006, which is located on the i8 Target, the third main area being tested as part of this ongoing programme. As you will see from the AMT images linked above, the i8 target is particularly interesting.

Photographs of the drill core from  hole DITDD004  are now available to view in the Gallery section of the Company’s website, the core samples have been submitted to the assay laboratory in South Africa and the results  are eagerly anticipated with the faster-turnaround ‘rush’ analytical service requested.

There is an intensely active period underway in the Kanye JV and I look to providing further updates to the market in the near future.”

Target I8

The inversion modelling  of the CSAMT and aeromagnetic survey data has led Kanye to conclude that the i8 Target anomaly could be caused by a buried intrusive body, approximately 4km in diameter.  The inversions modelling, undertaken by an external geophysical consultant, shows ‘intrusive’ signatures below a magnetic ring anomaly, that are significantly different to the surrounding flat lying ‘sedimentary’ signatures.

The CSAMT survey has detected signatures that appear disturbed in their dip and vertical position. There is also possible thrust faulting that has been identified by the inversions.

The area of disturbance is radially symmetric with the aeromagnetic ring structure and is interpreted to be a possible intrusion. Further, there are CSAMT signatures that are coincident with the outer magnetic ring that are protruding high into the resistivity section, further suggesting the possibility of an intrusive body.  This signature is significantly different from that interpreted from preliminary CSAMT data collected on the i10 and i1 Targets.

The target conforms to an idealised model for a carbonatite.  The composition of this is now being tested by drillhole DITDD006, planned to a depth of 400m. 

Background to Targeting

Kanye has identified 12 geophysical structures/targets at Ditau (i1 through i12 Targets), which could be possible carbonatites and/or intrusive complexes that may host carbonatites. Nine of these targets are particularly well defined.

There are two target types at Ditau:

1)    Discrete kilometre-scale carbonatite pipe targets; and

2)    Larger multi-kilometre scale intrusive complex targets that may also be host to carbonatite intrusives.

The 12 Ditau geophysical targets are not known to have been tested for REEs historically. Kanye identified these targets, which range in size from circa 2km to 18km in diameter, using modern geophysical interpretative techniques. Kanye has used combined and integrated Airborne Magnetics, Ground Magnetics and CSAMT surveys in the exploration of the Project and for drill targeting.

Recently completed and inverted CSAMT surveying of the i8 Target, using both high and low frequency configurations, has resulted in high resolution of the basement below the Kalahari sand and sediment cover, providing enhanced target definition. As a result, Kanye is now running both high and low frequency CSAMT surveys over the i1 and i10 Targets to further enhance the interpretation of these, post drilling.

Completed Holes

A total of three drillholes for a combined core length of 1,037.3m have now been completed as part of the 2022 drilling programme. Mindea Exploration and Drilling Services (Pty) (“Mindea”) is conducting the drilling. Analytical results will be provided once assays are received, compiled, and interpreted.

2022 Drill Programme Summary Table (WGS 84 UTM Z34S):

Target

Drillhole

UTM E

UTM N

Azimuth (°)

Inclination (°)

Final depth

i10

DITDD003

640350

7231120

000

-80

300.1m

i10

DITDD004

640350

7230500

000

-80

393.3m

i1

DITDD005

650000

7246515

000

-80

343.9m

i8

DITDD006

654100

7233400

180

-80

In progress

 

POW/KAV Joint Venture at Ditau

Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with London-listed Kavango Resources plc (LSE:KAV) (“Kavango”). Kavango is the operator.

Competent 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 Competent 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:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

 

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

 

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

 

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

NOTES TO EDITORS

Power Metal Resources plc – Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work. 

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:

 

Project

Location

Current

POW %

Work Completed or Underway

Results Awaited

Alamo Gold Project

USA

Earn-in to 75%

Excavation of multiple test pits and mapping & sampling.

Field and assay results from on-site work programme.

Athabasca Uranium

Canada

100%

Data compilation across uranium properties

Interpretation results from all Properties complete. Next steps upcoming.

Authier North Lithium

Canada

Earn-in to 100%

Soil & rock sampling completed

Technical Review of exploration results & define next exploration steps.

Ditau Project

Botswana

50%

Drill programme focused on key targets notably drilling of potential carbonatites and targeting rare-earth elements.

Field updates and receipt & review of laboratory assay results.

Kalahari Copper Belt

Botswana

50%

Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas

Field programme findings and defined drill targets for near term drilling.

Molopo Farms

Botswana

53%#

Review of recent exploration findings.

Determine next exploration steps and action plan.

Victoria Goldfields

Australia

49.9%

Diamond drill programme completed.

 

Field updates and receipt & review of laboratory assay results.

Paterson Projects

Australia

82.78%*

Wallal passive seismic and 2D seismic processing work programme completed.

Review of historical data and target generation for Ripon Hills & Braeside West projects.

 

Findings from multiple work programmes including final approvals and preparations for planned deep diamond drilling.

Selta Project

Australia

82.78%*

Lithium review underway including desktop and field mapping and sampling.

Findings from lithium review exploration programme.

* Reducing to 62.12% after Completion of the Pre-IPO Financing

# subject to completion of acquisition announced 18.5.22 interest will increase to 87.71%

Kavango Resources #KAV – Ditau drilling and AMT update

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) has successfully completed hole DITDD005 on the “i1” target (“Target i1”) at the Ditau Camp Project (“Ditau”). The Company has now moved the drill rig to the “i8” target (“Target i8”), Hole DITDD006, following the completion of a Controlled Source Audio-Magnetotelluric (CSAMT) ground geophysical survey and inversion model.

The CSAMT survey has provided enhanced resolution of the bedrock beneath the Kalahari sands and sediments of Target i8. As a result of the upgrade in Target i8, based on this newly acquired data, drilling has commenced here.

Kavango has provided an inversion of the Target i8 Aeromagnetic data with an CSAMT section overlay on its website:

https://www.kavangoresources.com/media-library/news-release-media/rns15june2022

Meanwhile, Kavango has also shipped the first batch of samples from Hole DITDD004 for testing at a certified laboratory in South Africa, with ‘rush analyses’ requested.

Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE:POW)

Highlights

–    Drillhole DITDD006 has commencement on target i8.

–    Enhanced CSAMT survey completed that has provided additional bedrock resolution, resulting in prioritisation of this drillhole on the i8 target

–    Target i8 is a ~4km diameter ring structure interpreted from airborne magnetic survey data

–    This target has been the subject of 5.5-line km of CSAMT surveying, using both high and low frequency configurations

–    Interpretation of the inversion of the CSAMT for Target i8, by an external geophysical consultant, has shown bedrock signatures that are significantly different from the surrounding flat lying signatures, which are interpreted to be sedimentary country rock. 

–    The CSAMT survey has detected signatures that appear disturbed in dip and vertical position, inferring a phase of an intrusive.  These signatures are significantly different from that interpreted from preliminary CSAMT data for targets i10 and i1.

–    Hole DITDD006 will target the ring/magnetic high, coincident with the upwards protruding resistivity highs, at the edge of the i8 target

–    Drillhole DITDD005 completed; final depth 343.90 m

–    This targeted Target i1

–    DITDD005 intersected extensive conglomerate with a measurable magnetic mineral content

–    Interpretation is to be aided by an expanded CSAMT programme

–    Drillhole DITDD004 update

–    DITDD004 intersected extensive high magnetic mineral content confirmed via magnetic susceptibility readings, possible breccias and overprinting  hydrothermal alteration

–    First batch of samples has been cut and shipped for multi-element analyses, including some fire assays, to a certified laboratory in South Africa, with ‘rush’ analysis requested

–    Further batch will be dispatched during June

–    Separate batch of petrology samples are in preparation

–    Low frequency AMT survey underway aimed at augmenting existing high frequency CSAMT data, to assist interpretation of the range of lithologies identified at this target

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

“I would like to thank our team and our drillers, Equity Drilling/Mindea, for making rapid progress at Ditau, which has enabled us to begin drilling the fourth hole of this campaign in  fewer than two months since we started.

All our hard work to improve the company over the last 18 months is paying off handsomely. We are seeing this both in the acceleration of our work programmes and our deployment of enhanced technology in the field.

Our recent CSAMT surveys illustrate perfectly how much progress Kavango has made.

Our team has identified a possible intrusive body at i8 using CSAMT. This development has guided our exploration in real-time. We  will now test the i8 Target by drilling hole DITDD006.

Kavango has proven the effectiveness of the CSAMT technique at Ditau. As such, we have decided to perform further surveys on the recently drilled i10 and i1 targets. We are hopeful this data, together with what we learn from the drill cores, will sharpen future targeting in our hunt for economic mineralisation.”

Background to targeting

Kavango has identified 12 geophysical structures/targets at Ditau (targets i1 through i12), which the Company believes could be possible carbonatites and/or intrusive complexes that may host carbonatites. 9 of these targets are particularly well defined.

There are two target types at Ditau:

1)  Discrete kilometre-scale carbonatite pipe targets, and

2)  Larger multi-kilometre scale intrusive complex targets that may also be host to carbonatite intrusives.

The 12 Ditau geophysical targets are not known to have been tested for REEs, historically. Kavango identified these targets, which range in size from ~2km to ~18km in diameter, using modern geophysical interpretative techniques. Kavango has used combined and integrated Airborne Magnetics, Ground Magnetics and Controlled Source Audio-Magnetotelluric (“CSAMT”) surveys in the exploration of the property and for drill targeting.

Recently completed and inverted CSAMT surveying of Target i8, using both high and low frequency configurations, has resulted in high resolution of the basement below the Kalahari sand and sediment cover, providing target definition. As a result, Kavango is now running both high and low frequency CSAMT surveys over Target i1 and Target i10 to enhance the interpretation of these, post drilling.

Target i8

A combination of inversions from CSAMT and Aeromagnetic data has lead Kavango to conclude that Target i8 could represent an intrusive body, approximately 4 km in diameter.

Interpretation of the inversion of the CSAMT for Target i8, by an external geophysical consultant, has shown bedrock signatures that are significantly different from the surrounding flat lying signatures, which are interpreted to be sedimentary country rock.

The CSAMT survey has detected signatures that appear disturbed in dip and vertical position. There is also possible trust faulting.

The area of disturbance is radially symmetric with the aeromagnetic ring structure and is interpreted to be a possible intrusion. Further, there are CSAMT signatures that are coincident with the outer magnetic ring, that are protruding high into the resistivity section, inferring a phase of an intrusive.  This signature is significantly different from that interpreted from preliminary CSAMT data for targets i10 and i1.

The target conforms to an idealized model for a intrusive.  The composition of this is now being tested by drilling of hole DITDD006, planned to a depth of 400m.

Completed holes

A table summarising the holes completed at Ditau under the 2022 program is provided below. Analytical results will be provided once assays are complete.

Target

Drillhole

Planned
UTM E

Planned
UTM N

Planned azimuth

Planned inclination

Final depth

i10

DITDD003

640350

7231120

000

-80

300.14m

i10

DITDD004

640350

7230500

000

-80

393.29m

i1

DITDD005

650000

7246515

000

-80

343.90m

i8

DITDD006

654100

7233400

180

-80

In progress

The POW/KAV Joint Venture at Ditau

Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE:POW) (“Power Metal”). Kavango is the operator. Mindea Exploration and Drilling Services (Pty) (“Mindea”) is conducting the drilling, on a part-cash, part-equity basis.

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

bturney@kavangoresources.com

+46 7697 406 06

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 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 the styles of mineralisation 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.

NOTES TO EDITORS

THE DITAU CAMP PROJECT

The Ditau Camp Project comprises two Prospecting Licences (“PLs”) (PL169/2012 & PL010/2019) that cover an area of 1,386km2. Geophysical analyses by Kavango in the two PLs have identified 12 “geophysical structures” of which 9 have clear indications of being “ring structures”.

The “ring structures” have the potential to host carbonatite and other intrusive rocks.

Carbonatites are the principal source of rare earth elements (“REEs”) including the much sought-after elements Neodymium (Nd) and Praseodymium (Pr), which are used in the manufacture of the new generation of electric vehicles (EVs), magnets and other high-tech applications. Other elements/minerals associated with carbonatites include Niobium, Phosphates, Monazite, Strontium, Magnetite and Copper.

Mafic intrusives have potential to host base and precious metals, as seen in the Molopo Farms Project, Selebi Phikwe and Tati Nickel deposits in Botswana.

Kavango Resources #KAV – Annual Financial Report

 

Kavango Resources plc (LSE:KAV) announces that its Annual Report and Accounts for the year ended 31 December 2021 has been published [and posted to shareholders].

As announced on 7 June 2022 the Company’s Annual General Meeting will be held at the offices of the Company’s Solicitors, Druces LLP, Salisbury House, London Wall, London EC2M 5PS at 11 a.m. on 08 July 2022 (the “AGM”).

A copy of the notice of its annual general meeting (the “2022 AGM Notice”) and form of proxy for the AGM, along with the 2021 annual report and financial statements, is available to download from the Company’s website ( www.kavangoresources.com ).

In accordance with Listing Rule 9.6.1 of the UK Financial Conduct Authority (“FCA”), a copy of the 2022 AGM Notice and a form of proxy for the AGM will be submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at:

https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

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

bturney@kavangoresources.com

+46 7697 406 06

  First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker)

+44 1483 413500

Nick Emerson

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

Kavango Resources #KAV – Calling of AGM

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) is pleased to announce the Company’s Annual General Meeting will be held at the offices of the Company’s Solicitors, Druces LLP, Salisbury House, London Wall, London EC2M 5PS at 11 a.m. on 08 July 2022 (the “AGM”).

Kavango will post a copy of the notice of its annual general meeting (the “2022 AGM Notice”) and form of proxy for the AGM, along with the 2021 annual report and financial statements to shareholders on Monday 13 June 2022, which will be available to download from the Company’s website ( www.kavangoresources.com ) on the same day.

In accordance with Listing Rule 9.6.1 of the UK Financial Conduct Authority (“FCA”), a copy of the 2022 AGM Notice and a form of proxy for the AGM will be submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at:

https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

Research Talks Special Live from the UK Investor Show in London

In a research talks special streamed from the The UK Investor Show Alan Green and Mark Fairbairn discuss MetalNRG Plc #MNRG Kavango Resources PLC #KAV Technology Minerals #TM1 and the sum of the parts valuation case for Power Metal Resources #POW

#research #gold #copper #nickel #investor #RareEarth #circulareconomy #batteryrecycling #BatteryMetals #mining #exploration #mineralexploration Rolf A Gerritsen Ben Turney Brett Grist Robin Brundle Alex Stanbury Emily Steward Harry Chathli John Bick Paul Johnson Tristan Pottas Oliver Friesen

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