Home » Posts tagged 'KSZ'

Tag Archives: KSZ

Kavango Resources Plc (KAV) – KSZ Hukuntsi – TDEM conductor C1 identified

KSZ Hukuntsi – TDEM conductor C1 identified

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the identification of an electro-magnetic (EM) anomaly in Target Area C in the Hukuntsi (northern) section of the Company’s Kalahari Suture Zone (“KSZ”) Project.

Designated Target C1 (“C1”), the conductive anomaly is located 11km from Target A2 (“A2”), which was first announced on 20 April 2020.

C1 and A2 appear to lie within the same geological corridor. The Company now plans to drill a minimum of one hole in A2 and a minimum of one hole in C1. Drilling is to commence at the end of June.

Both A2 and C1 lie in ‘Norilsk-style’ gabbro keels. The primary objective of both holes is to recover drill core from the bottom of the keels for further analysis to test the system’s potential to host major metal sulphide deposits.

 

Highlights

  • Target C1
    • 11km NE of Target A2
    • Kavango believes A2 and C1 lie in the same geological corridor of Karoo-age gabbro, which is open in both directions
    • The conductor is 1,200m by 1,600m and sits at the bottom of a keel as defined by the Company’s 3D Geological Model
    • 530m depth from surface to centre of the conductor
    • The decay constant is ~360msec
    • Conductance of 2,500 Siemens
  • Drill plan:
    • Drill operator is Mindea Exploration and Drilling Services (Pty) (“Mindea”)
    • Mindea to set up camp between Targets A2 & C1
    • Drilling at A2 to commence in June
    • Drilling to commence at C1 in July
    • Kavango to pay <half the total drill cost to Mindea in cash (c.£70,000), with remaining fees payable in shares
    • Potential to increase scope of drilling, once rig is on site and pending further data analysis
    • Extensive assaying and downhole geophysics planned on all boreholes

 

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

“The ‘Norilsk Model’ for metal sulphide systems suggests deposits originally formed in clusters. In this context, it is encouraging that C1 is located relatively close to A2. We believe both targets lie potentially within the same geological corridor of Karoo gabbro.

If drilling validates our interpretation of the data, this could prove to be a significant development in our attempts to unlock the Kalahari Suture Zone.

The fact that C1 shares a number of highly similar characteristics with A2 is very encouraging. Like A2, C1 is in an ideal geological setting (at the bottom of a “keel”), is nearly 2km2 in size, has a conductance of 2,500 Siemens and a decay constant of ~360msec.

We look forward to retrieving core from both targets in the coming months.”

 

Background

Over the last three years, Kavango has conducted extensive geophysical surveys over Karoo-age gabbros at Hukuntsi using airborne and ground-based based technology. In 2019 Kavango completed a successful orientation drill programme, data from which helped augment the Company’s extensive 3D Magnetic Model of the region’s subsurface geology (announced 8 September 2020).

On 30 November 2020 Kavango released results from its analysis of the 3D Magnetic Model, which revealed close similarities between the gabbroic rock formations in the KSZ and those at the Norilsk mining centre, in northern Russia.

In December that year, the Company initiated the first ground-based Time Domain Electromagnetic (TDEM) survey of the KSZ. This was the first time this powerful remote sensing technology had been used on the KSZ. Kavango subsequently secured a strategic partnership with the TDEM operator, Spectral Geophysics Ltd, to accelerate and broaden the TDEM programme.

On 20 April 2021 and 5 May 2021, Kavango released details of the results from the second TDEM survey, which defined Target A2.

On 10 June 2021, Kavango announced plans to drill two holes in the KSZ. The drill contractor is Mindea Exploration and Drilling Services (Pty), who has agreed to receive >half its fees in equity from Kavango.

Links to the relevant announcements are provided below:

 

About Target A2

Kavango estimates Target A2’s properties are:

–    1km length, which is open along strike

–    Extends between 250m to 700m below surface and is gently dipping

–    Decay constant of approximately 340msec and conductance of approximately 3000 Siemens, readings which Kavango management considers are consistent with nickel sulphide deposits elsewhere in the world

–    Located in the right geological setting, at the bottom of a “keel” in the gabbroic intrusion, according to the Company’s Magnetic 3D-Model (8 September 2020)

About Target C1

Kavango estimates Target C1’s properties are:

–    1,200m by 1,600m in size

–    530m depth to centre of the conductor

–    Decay constant of approximately 360msec and conductance of approximately 2,500 Siemens

–    Located in the right geological setting, at the bottom of a “keel” in the gabbroic intrusion, 11km away from A2 (potentially in the same geological corridor of Karoo-gabbro)

———————————————————————–

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 additional 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 Resources #KAV – Shareholder presentation on KSZ Drilling

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that Ben Turney will be presenting at Shares Magazine Investor Evening on KSZ Drilling on Wednesday 16 June.

Ben is scheduled to speak at 1920 and will present the Company’s recently announced drill plans in the northern (Hukuntsi) section of the Kalahari Suture Zone.

Ben will provide shareholders and investors with screenshots and maps of the latest geophysical models Kavango has developed, following successful completion of further Time Domain Electromagnetic surveys in the area.

To register for the event please visit the link below.

https://www.sharesmagazine.co.uk/events/event/shares-investor-evening–webinar-160621

The presentation will be recorded and a copy will be made available via the Company’s social media channels.

 

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 (Broker) 

+44 1483 413500

Nick Emerson

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.

Kavango Resources (KAV): KSZ Hukuntsi – Drilling to commence in June

KSZ Hukuntsi -Drilling to commence in June

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce drilling will commence on two “proof of concept” geological holes in the northern (Hukuntsi) section of the Kalahari Suture Zone (“KSZ”) in June.

Kavango’s primary objective is to become the first company ever to retrieve drill core from the bottom of the “keels” of the Karoo-age gabbros in the KSZ. The Company anticipates that drill-core from these holes will provide firm physical evidence of the KSZ’s potential to host ‘Norilsk-style’ metal sulphide deposits.

To this end, Kavango has awarded a contract to Mindea Exploration and Drilling Services (Pty) (“Mindea”), a company operated under the Botswana Citizen Economic Empowerment Policy, to design, engineer and drill a minimum of two 500m boreholes (the “Drill Contract”). Drilling is planned to commence by no later than 30 June 2021.

Mindea has agreed to accept payment for the Drill Contract half in cash and half in Kavango stock (at an issue price of 4.53p per share).

Highlights

  • Drill contract key terms:
    • Mindea to drill a minimum of two 500m “geological” diamond holes at Hukuntsi
    • Cost per metre calculated on possible depth per hole of 800m
    • Mindea to design and engineer all bore holes
    • All bore-holes to be cased from surface into the gabbro intrusive to allow for extensive testing and geophysical surveying
    • Bore-holes will be oriented -80° from the horizontal
    • Core samples (HQ and NQ size) to be recovered for geological logging, whole rock geochemistry and assaying.
    • Key safety protocols and COVID-security processes agreed
    • Mindea to accept over half its fee in equity in Kavango, to be paid through the issue of shares in the Company at an agreed price of 4.53p per share
  • Drill targets:
    • Final drill collar locations to be confirmed later this month
    • A minimum of one hole to be drilled into Target A2 (announced on 20 April 2020)
    • Analysis of other potential drill targets ongoing, with results expected shortly
  • Planned testing programme on all boreholes:
    • Downhole electromagnetic (“EM”) surveys to be performed by Spectral Geophysics, with an anticipated search radius of 300m-400m from the drill string
    • XRF testing of sand cores to be completed by Kavango’s exploration team.
    • Core for assay and petrological work will be split by Kavango staff in Hukuntsi
    • Whole rock geochemistry and assay testing of core samples to be completed at the SGS laboratory in South Africa
    • Additional analysis of geochemistry and petrological/mineralogical studies to be performed in the UK by academic consultants.
  • Site preparation:
    • Site visits completed, camp location agreed and two water sources identified
    • The Company has engaged with the local community to secure its support
    • Drill rig mobilisation expected within the next week
  • Ongoing discussions with Equity Drilling Ltd (a 49% shareholder in Mindea) concerning a future potential strategic partnership
  • Budget in place for more extensive drilling campaign later in 2021

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

“The Kalahari Suture Zone was first identified 45 years ago. The technical challenges of pursuing exploration under 70m of Kalahari sands and sediments proved too much for previous companies that attempted to unlock this region’s significant potential.

Through the deployment of modern remote sensing technologies, sophisticated data analysis and persistent hard work, Kavango now aims to become the first company to retrieve drill core samples from the bottom of the “keels” of the Karoo-age gabbros here.

If we are successful this will be a major achievement for the Company. 

We believe core samples from the bottom of the gabbroic “keels” could provide us with the definitive proof we have been looking for that the KSZ could host one or more major deposits of nickel, copper and platinum group metals.

I am particularly delighted to be working with Mindea Exploration and Drilling Services on such an important project. Mindea is a well-established national drilling contractor in Botswana, having worked for Debswana and DeBeers. Equity Drilling, one of Mindea’s largest shareholders, also operates a highly regarded drill school in Gaborone, the first of its kind in Africa.

Kavango is committed to investing heavily in Botswana. Working with such reliable local partners as Mindea and Equity Drilling is integral to our ambitious growth strategy.

The fact that Mindea has agreed to receive over half of its fees in equity suggests considerable faith in the potential of the KSZ to host metal sulphide ore bodies and a great endorsement of Kavango’s exploration approach. For a minimal cash outlay, we can make significant advances with the KSZ Project, while keeping a budget in reserve for a more extensive drill campaign later this year.”

Background

Over the last three years, Kavango has conducted extensive geophysical surveys over Karoo-age gabbros at Hukuntsi using airborne and ground-based based technology. In 2019 Kavango completed a successful orientation drill programme, data from which helped augment the Company’s extensive 3D Magnetic Model of the region’s subsurface geology (announced 8 September 2020).

On 30 November 2020 Kavango released results from its analysis of the 3D Magnetic Model, which revealed close similarities between the gabbroic rock formations in the KSZ and those at the Norilsk mining centre, in northern Russia.

In December that year, the Company initiated the first ground-based Time Domain Electromagnetic (TDEM) survey of the KSZ. This was the first time this powerful remote sensing technology had been used on the KSZ.

On 20 April 2021 and 5 May 2021, Kavango released details of the results from the second TDEM survey, which defined Target A2.

Links to the relevant announcements are provided below:

Ø 08 September 2020 – https://www.investegate.co.uk/kavango-resources–kav-/rns/3d-model-confirms-ksz-norilsk-rock-formations/202009080700072794Y/

Ø 30 November 2020 – https://www.investegate.co.uk/kavango-resources–kav-/rns/4-norilsk-style-target-areas-selected-in-the-ksz/202011300700068179G/

Ø 20 April 2021 – https://www.investegate.co.uk/kavango-resources–kav-/rns/ksz-hukuntsi—tdem-conductor-identified/202104200700039575V/

Ø 05 May 2021 – https://www.investegate.co.uk/kavango-resources–kav-/rns/ksz-tdem-update-and-warrant-exercise/202105051000016206X/

The Company now proposes to drill at least one 500m borehole into Target A2, with a second hole also planned in the area. Final confirmation of specific drill collar locations will be confirmed in the coming weeks.

About Mindea

Mindea Exploration and Drilling Services (Pty) LTD was formed in September 2019 by Equity Drilling Limited and Maureen Mokgaotsane (Geologist), Sebanka Lobatlamang (Geologist) and Eddie Babuseng (Attorney at Law) to provide complete exploration solutions to its clients in Botswana.

Mindea is currently operated under the Botswana Citizen Economic Empowerment Policy and is owned 51% by local shareholders and 49% by Equity Drilling. Over the coming years it is expected that Botswana nationals will wholly own Mindea, with Equity Drilling continuing to provide strategic and technical support.

Mindea operates to strict international safety standards and deploys the latest equipment to its projects. Mindea is rigorous in its planning and site preparation.

Reflecting the quality of its operations, Mindea has recently been awarded a 3-year contract by Debswana to drill various national projects in Botswana. In addition to this, Mindea is a regular drill contractor for DeBeers.

About Equity Drilling

The owners of Equity Drilling are extremely experienced drill operators, with extensive experience of successfully working on technically challenging projects across Africa.

Equity Drilling established Africa’s first Drilling School in Botswana, the Africa Mining and Drilling Institute (“AMDI “)

AMDI is Botswana Qualifications Authority (BQA) certified, which offers internationally recognised certification to all students wishing to be taught exploration drilling. AMDI has an exclusive working relationship agreement in place with the Australian Drilling Industry Association (the “ADIA”) and offer the ADIA’s DICAT curriculum with a strong emphasis on safety in the workplace.

AMDI also offers funds the delivery of pre-industry courses to students from local communities, who have had no previous work experience. This course prepares students for the work place and making them eligible for placement into the industry on graduation. Mindea’s own labour resources have been drawn from these pre-industry course graduates

About Target A2

Kavango estimates Target A2’s properties are:

–    1km length, which is open along strike

–    Extends between 250m to 700m below surface and is gently dipping

–    Decay constant of approximately 340msec and conductance of approximately 3000 Siemens, readings   which Kavango management considers are consistent with nickel sulphide deposits elsewhere in the world

–    Located in the right geological setting, at the bottom of a “keel” in the gabbroic intrusion, according to the Company’s Magnetic 3D-Model (8 September 2020)

————————————————————————————————————

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 additional 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 Resources #KAV – London South East Natural Resources Webinar

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, will be presenting at the London South East May Natural Resources Webinar on 25 May 2021 at 17:45 BST.

Ben Turney, Executive Director of Kavango, will deliver a presentation titled “Why Kavango Resources should feature in your portfolio”. This will be followed by a virtual question and answer session.

To view the presentation and participate in the Q&A please visit the following link:

https://us02web.zoom.us/webinar/register/4616057084894/WN_4mo_Tp8iTNyczo4hxQ_QcQ

Kavango Overview

Kavango is currently pursuing major exploration projects in the Kalahari Suture Zone (“KSZ”) and the Kalahari Copper Belt (“KCB”) in Botswana.

In the KSZ, Kavango’s key focus in 2021 is “proof of concept”. The Company has deployed sophisticated remote sensing technologies and advanced data modeling techniques to identify high priority drill targets, for a campaign later this year. The primary objective of future drilling will be to penetrate to the bottom of one or more of the “keels” in the gabbroic formations in the four ‘Norilsk Style’ target areas, described in the announcement on 30 November 2020.

If it achieves this goal, Kavango will become the first company ever to extract drill core from the bottom of the Karoo-age gabbros in the KSZ. Analysis of such drill core is expected to provide valuable data to help establish the system’s potential to host magmatic sulphide ore bodies.

Meanwhile, in the KCB, Kavango is targeting large-scale copper/silver deposits, using tried and tested exploration methods.

The Company is currently working in two separate Joint Ventures (“JV”), one with Power Metal Resources (“Power Metal”) and one with LVR GeoExplorers Pty Ltd (“LVR”). The JV with Power Metal also includes the Ditau Rare Earth Elements Project.

Kavango has recently flown extensive Airborne Electromagnetic (“AEM”) surveys over the JV prospecting licences in the KCB. The Company is analyzing the results to augment future field exploration.

At the South Ghanzi Project (held within the Power Metal JV), Kavango announced on 14 May 2021 the identification of 7 conductors, which include three large, high-priority targets.

Results from the LVR AEM surveys are expected shortly.

At Ditau (also held within the Power Metal JV), Kavango continues to conduct surveys on the 10 “ring structures”, which might represent potential carbonatites.  Carbonatites are the principal source of 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. The Company expects to release an update on this in the coming weeks.

To view the presentation and participate in the Q&A please visit the following link:

https://us02web.zoom.us/webinar/register/4616057084894/WN_4mo_Tp8iTNyczo4hxQ_QcQ

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 information in this press release that relates to “geological and/or geophysical results” for the LVR 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.

Kavango Resources #KAV – Strategic Partnership with Spectral Geophysics

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the signing of a strategic partnership with Spectral Geophysics Ltd (“Spectral”) (the “Strategic Partnership”).

Spectral is one of Southern Africa’s leading firms in the use of ground-based remote sensing technologies to identify high-speed electromagnetic (“EM”) conductors at depth. Spectral has specialist knowledge and expertise in mapping subsurface geology beneath Kalahari cover. This experience is particularly important to exploration of the Company’s Kalahari Suture Zone (“KSZ”) Project in Botswana.

Highlights

v Spectral has completed two Time Domain Electromagnetic (“TDEM”) surveys in the KSZ. The second of these, at Target A2, identified:

–  A large conductive anomaly, which is approximately 1km in strike with a large decay constant (~340msec) that could indicate presence of metallic sulphides

–  A second possible discrete conductor to the west of A2, which requires further surveying.

v Under the terms of the Strategic Partnership:

–  Spectral will share with Kavango its technical knowledge to optimise future underground remote surveys of the KSZ

–  Spectral will prioritise the assignment of its advanced surveying technologies to the KSZ for a period of 24 months

–  Kavango will share with Spectral results of independent assessments on any data gathered from remote surveys

–  Kavango’s field exploration team will provide additional support to facilitate more rapid deployment of remote sensing technologies to target areas.

v In return for securing priority access to Spectral’s technical expertise and advanced remote surveying technologies, Kavango has agreed to issue Spectral:

–  3,000,000 ordinary shares in the Company at 3p per share (the “Partnership Shares”). The Partnership Shares will be lodged with the Company’s broker and are subject to a 12-month lock-in.

–  3,000,000 warrants in the company exercisable at 4.25p per share with the following vesting conditions

I.  1,000,000 warrants vest on completion of the next 5 TDEM surveys in the KSZ

II.  1,000,000 warrants vest on completion of a further 5 TDEM surveys in the KSZ

III.  1,000,000 warrants vest on completion of a further 5 TDEM surveys in the KSZ

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

“We are delighted to announce a Strategic Partnership with Spectral Geophysics and its founder Cas Lötter.

Cas is one of Africa’s principal experts in subsurface geological surveying. Under his leadership, Spectral is now among the Continent’s leading specialists in ground-based EM surveys, having worked on projects in 18 countries for many of the world’s largest mining firms.

In addition to this, Cas has personally interpreted over 100,000 line kilometers of helicopter EM data and was directly involved in the target identification that led to the T3 and A4 Dome copper discoveries in the Kalahari Copper Belt.

With Spectral’s assistance and experience, Kavango will now be able to deploy more sophisticated methods and remote sensing technologies into the Kalahari Suture Zone. Following the success of the first two TDEM surveys we completed at Hukuntsi, this is a major step forward for Kavango and significantly bolsters our exploration capabilities.”

Cas Lötter, founder of Spectral Geosciences, commented:

“I have been intrigued by the potential of the Kalahari Suture Zone for over 30 years. However, it has only been in recent years that technology has improved to the point to allow for effective surveying at depth, beneath the Kalahari cover.

I was happy to be invited to work on the KSZ Project last year. It is a technically-complex environment to work in, but my team and I have developed sophisticated methods to enable us to step up to this challenge. The fact that our data has stood up to rigorous external validation further strengthens my belief that our partnership with Kavango could yield substantial results.

Now that we have seen the results from our first TDEM surveys, I am even more encouraged by what we have already found. We have learned a lot from the first phase of surveys and applied these lessons to the next round of surveys, which are well underway.”

About Cas Lötter & Spectral

Cas Lötter had his first experience with mapping geology below the Kalahari beds in 1985 when he located the mafic/ultramafic contact of the northern limb of the Molopo Farms Complex, using aeromagnetic, ground magnetics and gravity. Since that time, he has been involved in exploration projects for minerals and groundwater below the Kalahari stretching from the northern Cape of South Africa to eastern Namibia and further north through western Zambia into the southern DRC and into Zimbabwe in the east. He was especially active in Botswana where he has been a resident since 1993, the year he established geophysical consulting and contracting company, Spectral Geophysics. Spectral serviced several multi-nationals and a plethora of Canadian, British and Australian juniors eg. Rio Tinto, BHP-Billiton, Anglo American, Phelps Dodge, Falconbridge, First Quantum etc. in the search for diamonds, gold, copper, nickel, lead-zinc, uranium and manganese. Spectral has also been involved in projects in South Africa, Namibia, Angola, DRC, Congo, Zimbabwe, Mozambique, Swaziland, Lesotho, Kenya, Tanzania, Uganda, Ivory Coast, Senegal, Ghana, Mali, Eritrea and CAR.

Cas Lötter, in his personal capacity, has also been involved extensively in consulting assignments in India (processed and interpreted 100,000+ line km of helicopter EM data)  and Iran (training of local geophysicists in electromagnetic surveying and processing). In Africa, he was directly involved in projects which led to the discovery or mapping of a resource eg. Kalgold on the Kraaipan Belt in South Africa, Lumwana and Sentinel on the Zambian Copper Belt, Golden Ridge, North Mara and Geita in Tanzania. He was also closely involved with the geophysical mapping of the T3 deposit in the Kalahari Copper Belt and commissioned, planned, supervised, processed and interpreted the helicopter electromagnetic survey which led to the discovery of the A4 dome deposit near T3.

Spectral’s main areas of expertise are advanced processing and interpretation of airborne and ground electromagnetic data as well as 3D modelling of Induced Polarisation / Resistivity data. Spectral is currently concentrating on deep electromagnetic prospecting for metallic sulphides using the gold standard in transmitter and receiver technology available from Australia. Spectral has extensive experience with the application of TDEM and SQUID sensors in electromagnetic prospecting and have applied the technology successfully in Botswana, South Africa and Namibia over a period of six years.

Terms of the Strategic Partnership

Kavango and Spectral have entered into a Strategic Partnership, whereby Spectral will share with Kavango its technical knowledge to optimise future underground remote surveys in the KSZ.

Kavango has incentivised Spectral to prioritise physical surveys of the KSZ and to deploy its most powerful remote sensing technologies. The Strategic Partnership will involve Spectral making recommendations concerning the use of specific techniques and technologies to maximise the chances of success, identifying any large-scale conductors that may exist in the KSZ.

Kavango will share with Spectral results of any data analytical work it receives from third party geophysicists, employed to provide independent assessment of survey data. Kavango expects any third party analysis will help augment and calibrate future surveys conducted by Spectral in the KSZ.

In return for Spectral’s commitment to the Strategic Partnership, Kavango will issue Spectral 3,000,000 Partnership Shares, at an issue price of 3p per share. The Partnership Shares will be held with First Equity for a 12-month lock in period

In addition, Kavango will issue Spectral with warrants to subscribe for up to 3,000,0000 new ordinary shares, exercisable at 4.25p a share with a 4-year exercise period from the date of signing the strategic partnership agreement between Kavango and Spectral (the “Partnership Warrants”). The Partnership Warrants will vest in 3 tranches, set out in the table below:

Spectral Partnership Warrants Vesting Tranches

Tranche

Exercise Price

Number of Warrants

Life of Warrants

Vesting Condition

1

4.25p

1,000,000

4 Years

Warrants vest on completion of FIRST 5 ground-based remote sensing surveys in the KSZ

2

4.25p

1,000,000

4 Years

Warrants vest on completion of SECOND 5 ground-based remote sensing surveys in the KSZ

3

4.25p

1,000,000

4 Years

Warrants vest on completion of THIRD 5 ground-based remote sensing surveys in the KSZ

———————————————————————–

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 additional 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

 

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.

Gabbro/gabbroic:   A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth’s crust. Gabbroic rocks (or “gabbros”) are formed as the molten magma crystallizes and cools.

Gabbroic sills:   Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.

Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.

Massive sulphide: When a deposit consists almost entirely of sulphides it is termed “massive”. When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed “disseminated”.

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  

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.