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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)

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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): 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 Plc (KAV) – Kalahari Copper Belt update: Copper and Silver targets identified on LVR JV

KCB update: Cu/Ag targets identified on the LVR JV

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that extensive copper/silver targets (the “Targets”) have been identified on Prospecting Licences (PLs) 082/2018 and 083/2018 in the Kalahari Copper Belt (KCB). The two PLs are held in a Joint Venture farm-in with LVR GeoExplorers Ltd (the “LVR Project”).

The Targets were detected as a result of the recent Airborne EM (AEM) surveys flown over the LVR Project.  Strong soil geochemical anomalies occur at surface above the Targets.

Highlights

  • 1,216km of Airborne Electromagnetic (AEM) surveys flown over the LVR Project in March
    • Stage 1 of the LVR farm-in now complete, taking Kavango’s stake in the LVR Project to 25%
  • PL 082/2018
    • Identification of a series of conductors over a 3.5km wide deformation zone
    • The conductors lie along strike of the Plutus deposit and the Boseto Mine to the north east
    • The primary target is a large EM conductor, extending to at least 400m from the surface
    • Strong coincidental copper (25ppm to >56ppm) and zinc (50ppm to >100ppm) in soils anomaly on surface
    • Fault controlled soil geochemistry anomalies striking over 5km
    • Distinct similarities with Cupric Canyon’s Banana Zone South Limb (mirror image) on the south side of the Ghanzi Ridge
  • PL 083/2018,
    • >10km of AEM conductors in the south-east of the PL, across two main targets (6km and 4km wide)
    • Both targets have coincidental copper in soils anomaly over three lines (500m spacing) and the anomaly remains open
    • The conductors are underlain by a linear magnetic anomaly extending for over 2km beneath the soil anomaly
  • The structural position of the Targets is prospective for the discovery of copper/silver mineralisation
    • PL 082/2018 is drill ready
    • PL 083/2018 requires further field exploration to delineate drill targets
  • Drilling expected in Q3, on award of Environmental Management Plan.

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

“The Airborne EM surveys have produced compelling justification for Kavango’s strategy in the Kalahari Copper Belt. We are confident we have identified copper mineralised systems, which we now have to test through drilling.

The Company’s integrated exploration approach, combining soil geochemistry, stratigraphical and structural mapping together with geophysical surveying is proving to be highly effective. A program of trenching on PL082/2018 and additional soil geochemistry on PL083/2018 is planned prior to a drill program later in the year.”

Background

SkyTEM Ltd conducted the AEM surveys in February 2021, flying a total of 1,216 line/kms over the LVR Project.

The AEM surveys, flown together with airborne magnetic surveying, were carried out on lines 200m apart, on an approximately north-south orientation.

The survey blocks were selected by Kavango’s geophysical team, based upon analysis of magnetic data and soil geochemistry results obtained at the end of 2020 combined with the remote mapping of geological structures from the analysis of Landsat imagery.

The LVR JV

The LVR JV Agreement between Kavango and LVR GeoExplorers Ltd comprise two PLs totalling 1,091km2. Kavango has the right to acquire a 90% interest in the PLs through staged exploration expenditure commitments.

With completion of Stage 1 of the JV, Kavango has earned its first 25% interest in the two licences.

The plots of the AEM surveys and their interpretation will be posted on the Company’s website.

PL 082/2018

PL 082/2018 is 126km2 and lies along strike of the Plutus deposit and the Boseto Mine, owned by Cupric Canyon. This PL is characterised by steeply dipping repetitions of D’Kar and Ngwako Pan formations sitting above and either side of a basement dome.

The AEM survey has identified a series of EM conductors over 3.5km, which are coincident with a significant geochemical anomaly. Kavango has completed extensive soil sampling over this target area, including fifteen 4km sample lines that have returned copper readings in the range of 25ppm to >56ppm and zinc readings of 50ppm to >100ppm. Fault controlled soil geochemistry anomalies strike over 5km and merit immediate further investigation.

The conductors appear to be centred on an area of deformation and thrusting marked by a number of NNE trending faults commonly associated with economic mineralisation on the KCB.

The geological interpretation suggests an almost mirror image of the Banana Zone deposit (15km to the SE) that has been drilled out by Cupric Canyon on the southern side of the adjacent Ghanzi Ridge.

The main conductor lies just 1km from the main tarred road to Maun and a few hundred meters from a major power line. It is close to surface and extends to 400m depth. It represents an attractive drill target.

LVR PL 083/2018,

PL 083/2018 covers 965km2 and lies in the western part of the KCB in Botswana.

The AEM survey over this PL shows a series of thin formational conductors (possible redox boundaries) proceeding west for over 20km but, as they approach the eastern boundary of the PL, these conductors are intercepted by NNE faults and “blossom” into a large conductive body 6km wide (Target A), with another conductive body (Target B) 4km wide further to the north.

Kalahari sand cover is approximately 10m thick in this area, but soil geochemistry anomalies remain strong.

A well-defined copper in soil anomaly (>40ppm Cu), sitting above Target A, is defined over three sample lines 500m apart. The soil anomaly remains open.

A 2km magnetic anomaly is also coincident with both the AEM survey results and the soil anomalies.

Further exploration work is required on these two anomalies to identify their stratigraphical associations and depth. However, initial data suggests both have good potential for metal mineralisation.

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 Resources #KAV – Kanye Resources Exploration Update – Extensive anomalies identified, including seven AEM conductive targets at Kalahari Copper Belt

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 seven conductive targets in the Company’s South Ghanzi copper exploration project (“South Ghanzi”) in the Kalahari Copper Belt (“KCB”).

The seven targets were defined by the Airborne Electromagnetic (“AEM”) surveys flown over South Ghanzi in February. Follow up ground-based exploration of the geophysical anomalies has delivered very encouraging results, with close correlation between copper-zinc in soils geochemistry, regional geological mapping and the AEM data.

These findings align closely with previous fieldwork conducted by Kavango and the established regional exploration model for the discovery of major copper/silver deposits within the KCB.

South Ghanzi is held in a Joint Venture with Power Metal Resources plc (LSE:POW) (“Power Metal”). Kavango is the operator.

Highlights

Ø Seven conductive, kilometre-scale anomalies defined by AEM surveys, recently flown by SkyTEM Ltd

–    Each anomaly represents a potential drill target

–  Initial data interpretation suggests a range of target depths of 40m to 400m for exploration drilling

–    Kavango will follow up with additional soil sampling, trenching and geological mapping ahead of a drilling program planned for later in 2021.

Ø Three of the conductors are associated with anticlines/fold structures. These are the highest priority targets for further exploration.

Ø Target 36A (“Acacia”) is a 4km x 4km conductor on the northern boundary of PL 036-2020

–    Lies within a fold “nose”, which is plunging southwest

–    Made up of at least 4 individual pods of high conductivity

–  Soil geochemistry directly over the anomaly demonstrates elevated levels of copper (>42ppm) and zinc (>75ppm)

–    Zinc is a key pathfinder element for the discovery of major copper/silver deposits within the KCB.

Ø Target 36G (“Morula”) is estimated to be about 2km wide with at least 12km of strike on a south-westerly trend along the central backbone of PL 036

–    AEM data and the soil geochemistry suggest this target represents the sheared and thrust faulted southern limb of the “Acacia” fold

–  The soil geochemistry anomaly along the Morula target extends for over 12km demonstrates and is open at both ends

–   Seven 4km long soil sample lines (500m spaced with 100m spaced samples) completed, with four intersecting the southwest and three intersecting the northeast of Morula. The two groups of soil sample lines were 7km apart

–    All soil sample lines returned readings with significant concentrations of copper (38ppm to 62ppm) and zinc (59ppm to 111ppm) across the 12km soil anomaly

–  Seven infill soil sample lines planned at 1km spacing, to test the extent of potential mineralisation across the Morula conductor/anomaly.

Ø Target B (“Baobab”) is a 2km x 3km closed conductor, about 1km south west of the Morula fold and 4km south east of Ghanzi town within PL 036/2020

–    The Target sits across the “nose” of a second, “opposing” fold on the same stratigraphic horizon as Acacia.

–    Baobab is in a very encouraging geological setting. Soil geochemistry Survey underway.

Ø Target E (“Elephant”) lies in the southeast corner of PL 037/2020. It is a broad, 2.5km wide intense conductor with a strike of at least 6km and open at both ends

–    Unlike most of the other targets, the main body of the Elephant anomaly is between 400 and 600m from surface

–   A number of faults intersect the main body, giving rise to several close surface conductors, which could be sampled with shallow drilling.

Ø 3D AEM model interpretation of South Ghanzi is in progress and will include re-logging of water borehole chips and historic drillholes.

Ø An Environmental Management Plan (“EMP”) application is progressing

–   Upon award of the EMP, the Company plans to initiate exploration drilling across a number of these targets.

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

“The Airborne EM program has demonstrated that the two Ghanzi South PLs have significant potential for the discovery of copper/silver mineralisation. The generally shallow depth of the conductors is a major asset.

We are confident we are looking at numerous mineralised systems. The copper and zinc readings taken from Kalahari cover are promising, but we will only be able to gauge economic viability after drilling and assay testing.

In the meantime, the acquisition of a new portable XRF analyser will speed up the soil geochemistry surveys. Trenching through shallow Kalahari cover is also possible in some areas and will assist in the geological mapping. The aim is to have a more complete understanding of the geology before a drilling program is undertaken later in the year.

The results to date from the South Ghanzi Project have been very promising. We are particularly encouraged by the elevated copper and zinc readings, which correlate closely with sizeable sections of the shallow depth AEM conductors.

With the Environmental Management Plan application progressing well, the next few months in South Ghanzi will be key.”

South Ghanzi exploration

The South Ghanzi PLs lie within the Central Structural Corridor of the Kalahari Copper Belt immediately south of the town of Ghanzi.

Sedimentary horizons hosting copper/silver mineralisation in the KCB are known to be conductive. AEM surveys are a recognised and tested exploration method for identifying high priority drill targets.

Kavango’s strategy in the KCB is to identify conductive targets and then to complete follow up investigation, using other proven exploration methods including geological mapping and testing of soil geochemistry through extensive sampling. The correlation of positive zinc and copper soil geochemistry readings to positive AEM results is a highly encouraging exploration vector.

Given Kavango’s understanding of the regional lithology and stratigraphy of the KCB, the Company is optimistic about the progress it has made in South Ghanzi over recent months.

Specifically, the identification of a number of smaller anticlines associated with conductors suggests there are multiple promising drill targets at South Ghanzi.

AEM survey results

SkyTEM Ltd, a Danish geophysical contractor, conducted the AEM surveys over South Ghanzi in February 2021.

A total of 1,271 line kms were flown over the 2 PLs, which comprise a total area of 1,294km2. The AEM surveys, flown together with airborne magnetic surveying, were carried out on lines 200m apart and an approximately North-South orientation.

The survey blocks were selected by Kavango’s geophysical team, based upon analysis of magnetic data, soil geochemistry, remote mapping of geological structures and field mapping of the stratigraphy and structural geology.

The AEM surveys defined seven distinct conductor anomalies on both PLs. These are mostly related to fold hinge structures and confined to the interface between the Ngwako Pan and D’Kar Formations. Significantly, the conductors are usually coincident with copper and zinc soil anomalies detected using portable XRF equipment.

–    Copper is a less mobile element in soil, so the identification of such elevated readings is promising

–    As a more mobile element, zinc is a known “pathfinder element” in the search for major copper/silver deposits. Zinc has been successfully used as an exploration vector for other discoveries in the KCB.

The most significant conductor (Acacia) lies just south of the northern boundary of PL036/2018 about 9km SW of Ghanzi town. The conductor is approximately 4km x 4km in area and is made up of at least 4 individual pods. The conductive material appears to exist almost from surface to a depth of no more than 200m. The conductor lies almost entirely within the fold “nose”, which is plunging to the SW and within the D’Kar Formation just above its contact with the Ngwako Pan Formation.

Kavango has completed extensive soil sampling over Acacia, having taken samples over 16km of lines. Results demonstrate extensive copper and zinc anomalies over the conductive target. The majority of the anomalous readings were >42ppm copper and >75ppm zinc.

An associated conductor (Morula) lies just to the south of Acacia and is also supported by a strong copper in soils anomaly. The conductor is at least 2km wide and over 12km along strike (open at each end).

This conductor probably represents the southern limb of the same fold, but appears to be sheared along a thrust fault. This sheared limb has been cut by a number of NNE trending structures (faults). Such faults are known to be associated with mineralisation elsewhere on the KCB. The Company might elect to conduct further AEM surveys to close off the anomaly and establish its true extent.

The third priority conductor (Baobab) is 2km x 3km in area and is contained within the “nose” of a second major fold on the same stratigraphic horizon as the Acacia target. The size and geological setting for this conductor is encouraging. Kavango will prioritise soil sampling of this area in the coming weeks.

The fourth priority conductor (Elephant) lies in the southeast corner of the South Ghanzi Project and is also supported by a strong copper in soils anomaly. The conductor is at least 2.5km x 5km in area and remains open along strike.

Unlike the other targets, the main body of the Elephant anomaly is between 400 and 600m from surface. A number of faults intersect the main body, giving rise to several close surface conductors, which could be sampled with shallow drilling.

The Company might elect to conduct further AEM survey work to close off the conductor and establish its true extent.

Environmental Management Plan

Kavango initiated the EMP application in February. The award of an EMP is a prerequisite for exploration drilling in Botswana.

The Department of Environmental Affairs (“DEA”) has accepted the project brief for the EMP. A consultant, working on behalf of Kavango, will now engage and consult with local farmers, before submitting a report to the DEA to progress the application.

The POW/KAV Joint Venture

The South Ghanzi PLs are held in the name of Kavango and are subject to a JV Agreement in which each company holds a 50% interest via Kanye Resources plc. Exploration costs are equally shared. Kavango is the operator. Application has been made to transfer the PLs into a recently established Botswana JV company, Kanye Resources (Pty) Ltd. There are plans to IPO Kanye Resources plc on a recognised stock exchange.

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 has been read and approved by Mr Mike Moles (BSc (Geology) & BSocSci (African Studies), who is a Member of the Australian Institute of Mining & Metallurgy (MAusIMM) and has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration 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 is a beneficial shareholder of Kavango Resources plc.

Kavango Resources #KAV – KSZ TDEM surveys – presentation on Vox Markets

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, will participate in  an investor webinar on Tuesday May  18th at 5.30pm on Vox Markets.

Ben Turney, Executive Director of Kavango, will present the Company’s latest results of exploration in the Kalahari Suture Zone (“KSZ”).

As Kavango seeks to unlock the KSZ’s significant potential to host large-scale metal sulphide deposits, the Company has deployed Time Domain Electromagnetic (“TDEM”) surveying technology to identify targets, for a drill campaign later this year.

Following the success of the first TDEM surveys, Kavango recently entered into a strategic partnership with Spectral Geophysics, a highly experienced and effective operator of TDEM powerful technology, to complete a more extensive programme.

Further results are expected soon and Ben will take the opportunity on May 18th to present and provide context to the models Kavango has developed, which are guiding its exploration. Ben will be available to answer any questions webinar attendees have about the methods Kavango is using in the KSZ, how the Company has interpreted the data and the steps it is taking to de-risk this project before commencing drilling.

Please register your interest and submit your questions at https://voxmarkets.brand.live/c/vox-markets-webinar-may-18th

Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.comand 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 – KSZ TDEM Update and Warrant Exercise

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce an update on its Kalahari Suture Zone (“KSZ”) project, receipt of £59,500 in warrant exercises and completion  of the strategic partnership with Spectral Geophysics (“Spectral”) (announced 20 April 2021).

KSZ Update

Further to the announcement on 20 April 2021, Spectral has completed a third Time Domain Electromagnetic (“TDEM”) survey in Target Area A (“Survey A3”). This survey was designed to corroborate the existence of the large-scale conductive anomaly previously identified. Spectral also deployed an upgraded configuration of its equipment, which has proved to be successful.

TDEM surveys can be used to identify super electromagnetic (“EM”) conductors at depth, within highly complex geological environments such as the KSZ. Spectral Geophysics is a highly experienced and effective operator of TDEM technology currently being employed on the project.

Data from Survey A3 has now been successfully processed and interpreted. The data further confirms the existence of the previously identified conductive anomaly and that it has a conductance of ~3000 Siemens. Kavango now estimates the anomaly’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)

As the results come in from Kavango’s extensive TDEM surveying programme and are processed and interpreted, the Company expects to start planning a drilling programme. The exact timing and extent of such a programme remains to be determined, but it is currently considered likely that it will include drilling inclined holes of up to 450m through the conductive target at A2 that will aim to intercept the conductor at roughly 400m.

Kavango has prepared an explanatory video, which presents the geophysical model of the conductive target at A2, for shareholders to view on the Company’s website. The video is accessible via the link below:

https://cdn.kavangoresources.com/VNS-KAV_TDEM_conductor_Pt2_V03.mp4

On completion of Survey A3, Spectral immediately deployed its team and equipment to Target Area B1, which Kavango’s field exploration team had prepared in advance. This survey is now nearing completion and Kavango expects to receive data later this week, for processing, interpretation and review.

Spectral will then move straight onto Target Area B2, which the Company has begun preparing the site for.

Kavango anticipates the remaining TDEM surveys in this current phase of exploration will continue at this accelerated pace.

Completion of Spectral Geophysics Strategic Partnership

Following the success of the first TDEM surveys in the KSZ, Spectral and Kavango entered into a strategic partnership in April 2021, to leverage each other’s expertise to identify high-priority drill targets.

As part of this deal, Kavango agreed to issue Spectral with 3,000,000 ordinary shares of £0.001 at an issue price of 3p pence per share (the “Partnership Shares”). The Partnership Shares are subject to a 12-month lock-in and will be held in custody by the Company’s broker, First Equity. The Company allotted the Partnership Shares on 30 April 2021, subject only to their admission to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”).

Exercise of Warrants

Kavango announces it has received notices to exercise warrants over 5,950,000 new ordinary shares of £0.001 each in the Company (the “Warrant Shares”).

The Warrant Shares are being issued pursuant to the exercise of warrants granted and announced on 15 April 2020.  Subscription monies of £ 59,500 have been received by Kavango in respect of these exercises.

Admission and Total Voting Rights

Application has been made for Admission of the Warrant Shares and Partnership Shares.  It is expected that Admission will become effective and that dealings in the Warrant Shares and Partnership Shares will commence at 8.00am on or around 11 May 2021.

Following Admission, the total issued share capital of the Company will consist of 351,352,139 Ordinary Shares. Therefore, the total number of voting rights in the Company is 351,352,139 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company.

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   

Michael Foster

mfoster@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

Super EM Conductors: are bodies of highly conductive minerals such as 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, (originally) horizontal bodies of solidified gabbroic magma that intruded into the Earth’s crust while 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  

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  

Kavango Resources #KAV – KSZ Hukuntsi – TDEM conductor 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 A in the Hukuntsi (northern) section of the Company’s Kalahari Suture Zone (“KSZ”) Project.

The anomaly appears to be a large conductive body (the “Conductor”) that lies between 250 and 700m from surface and appears to sit within the lower parts of a gabbro “keel”, as predicted by the Company’s proprietary 3D-Underground Model of Hukuntsi announced on 8 September 2020. Kavango believes this is in a promising geological setting.

Highlights

v The Conductor was identified through the analysis of data from the second Time Domain Electro-Magnetic (“TDEM”) survey completed on Target Area A:

–    The ground-based, fixed loop TDEM surveys have been deployed to search for super conductors within the deeper “keels” of the extensive gabbroic intrusions in the KSZ.

–    The first two surveys (A1 & A2) were completed in close proximity to one another in Target Area A

–    Spectral Geophysics Ltd (“Spectral”), who are conducting the surveys on behalf of the Company, concluded that the Conductor “is interpreted to be caused by a shallow dipping, discrete conductor at least 1km in strike with a large decay constant (~340msec) that could indicate the presence of metallic sulphides”

–    The actual size of the causative source of the Conductor and its thickness will only be determined by drilling

–    The Conductor is oriented on a plunging plane, with a minimum depth of 250m, and a maximum depth extension of 450m (that is to a depth of 700m below surface).

v Given the size and the nature of the EM signature, Kavango sought independent verification of the validity and accuracy of the TDEM data from three independent geophysical consultants, including a specialist plate modeller who is experienced in modelling highly conductive EM environments. These consultants confirmed:

–    The TDEM surveys collected valid and accurate data readings

–    The equipment used to collect the TDEM data, the procedures adopted, the processing techniques (software) and the interpretation of the final results are all valid for this type of survey.

–    The plate model is accurate (plate modelling estimates the size, geometry and orientation of subsurface conductive bodies)

–    The EM signature of the Conductor is notably distinct from the surrounding conductive environment

–    TDEM surveys are the appropriate technology to identify conductive bodies in the KSZ.

v Using its proprietary 3D-Model of the underground geology at Hukuntsi, Kavango concludes that the Conductor is in the right geological setting for drilling (250m from surface to the projected “keel” of the gabbroic intrusion at 700m).

v Spectral is continuing TDEM surveys on Target Areas “B”,”C” and “D” at Hukuntsi.

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

“The apparent identification of a large EM anomaly within the “keel” of a gabbroic intrusion in Target Area “A” is promising.

While we were hopeful of what the first TDEM surveys of the KSZ might uncover, we are encouraged to have identified a conductive body of this size, in this geological setting so early in the programme.

As a prudent step, we have sought expert independent verification of the TDEM data and techniques employed.

Initial analysis confirms that the work carried out by Spectral was thorough, the data and the position and conductivity of the Conductor are reliable. Further work is still needed, but I am pleased with the validation we have so far received. 

I’d like to thank Spectral, the independent contractors and our in-house team for the excellent work they have completed on behalf of Kavango.  

This is the first time TDEM surveys have been deployed in the KSZ. We are confident this technology holds the key to unlocking the project’s significant potential. TDEM surveying will continue at an accelerated pace on the remaining principal target areas so we can prioritise targets for detailed drill site locations.”

TDEM surveys at Hukuntsi

On 30 November 2020, Kavango announced it had identified four “Norilsk-style” target areas at Hukuntsi for further exploration. These target areas cover 182.5km2 and incorporate deep “keel” formations in the Karoo-age gabbros, with long axes. The four target areas include:

–    Target Area A (8km x 9km)

–    Target Area B (6km x 10km)

–    Target Area C (4.5km x 5km)

–    Target Area D (3.5km x 8km)

In December 2020, the Company commenced orientation work on the first two surveys on Target Area A (A1 & A2). The interpretation and modelling was completed in late February, with independent data verification sought over March and into April.

The Conductor at A2

The Conductor appears to lie at a minimum depth of 250m and maximum depth extension of 450m (that is to a depth of at least 700m below ground). Spectral concluded that the Conductor “is interpreted to be caused by a shallow dipping, discrete conductor at approximately 1km in strike with a large decay constant (~340msec) that could indicate the presence of metallic sulphides”.  The actual size and thickness of the causative source at depth will only be determined by drilling

The EM decay constant (TAU) within the anomalous areas is calculated at approximately 340msec. These values are similar to nickel sulphide deposits discovered elsewhere in the world.

According to the Company’s 3D-model of the underground geology at Hukuntsi, the Conductor appears to lie at the base of a Karoo gabbro intrusive “keel”, which is the right geological setting for a potential mineral deposit. The Company is encouraged by this data.

To help further de-risk the Conductor, the Company sought independent expert verification of the data gathered from the TDEM surveys. This has confirmed the integrity of the methods used by Spectral, the quality of the data collected and the conclusions Spectral reached in its final report.

Next steps

The Conductor will be re-surveyed on two or three other survey lines from a new TDEM loop position to obtain further confirmation.

Meanwhile the TDEM surveying of Target Areas “B”, “C” and “D” will continue. Spectral will undertake either one or two TDEM surveys on each of these Target Areas.

The planned surveying of all four Target Areas should be completed before the end of June.   On completion, any conductors identified will be followed up with additional, offset TDEM loops at higher resolutions.  Offset loops will provide important information on the geometry and properties of any targets prior to subsequent exploration 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 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 

Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.

Kavango Resources #KAV – Licence acquisitions on the KCB in Botswana

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 two agreements that would allow a 50/50 Joint Venture between Kavango and Power Metal Resources plc (LSE:POW) (“Power Metal”) to acquire a 100% interest in eight prospecting licences (PLs) in the highly prospective Kalahari Copper Belt (“KCB”).

Highlights

Ø The Joint Venture is incorporated in the Botswana registered, Kanye Resources (Pty) Ltd (“Kanye”), the 100% subsidiary of UK incorporated Kanye Resources Plc in which Kavango and Power Metal each hold a 50% interest.

Ø Kanye has signed two separate agreements to purchase 100% of the eight PLs. This includes:

–  Four PLs in proximity to Ghanzi in the central zone of the Botswana KCB from Shongwe Resources (Pty) Ltd for US$200,000.

–  A further four PLs near the town of Mamuno on the Namibian border for US$230,000, which has been signed with Vinmarsh Interprises (Pty) Ltd.  

Ø Both transactions are subject to due diligence and the approval of the Botswana authorities.

Ø Kanye’s two existing PL’s that lie immediately south of the town of Ghanzi are currently held in the name of Kavango Minerals (Pty) Ltd and are in the process of being transferred to Kanye.

Ø After transfer of all ten PLs, Kanye will control 4,255km2 of exploration ground in the KCB, targeting the discovery of commercial copper/silver deposits.

Ø Results from the South Ghanzi AEM surveys are expected in April.

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

“The acquisition (subject to approvals in Botswana) of eight new prospecting licences is a major step forward in the development of Kanye Resources Plc as a significant player in the exploration for copper in the highly prospective KCB. Kavango’s experienced “in country” exploration capacity combines well with the financial expertise and assets of Power Metal. We are happy with the progress we are making on this project and look forward to providing more updates over the coming weeks.”

Kanye

Kanye Resources (Pty) Ltd, incorporated in Botswana, is a 100% subsidiary of UK registered Kanye Resources Plc and is the Joint Venture initiative between Kavango (50%) and Power Metal (50%).  It is planned to list Kanye Resources Plc on the LSE later in the year.

Kanye currently has a 100% interest in the two Ghanzi South PLs on the KCB (1,294km2) and the two “Ditau” PLs south of the town of Kang in central Botswana (1,386km2), which is prospective for minerals associated with carbonatite including rare earth elements. All four PLs are being transferred from Kavango Minerals (Pty) Ltd into the name of Kanye.

Earlier in March SkyTEM completed over 1,300km of airborne EM surveying on the Ghanzi South PLs on behalf of Kanye. The contractor’s final report will be available in April. 

Shongwe Resources (Pty) Ltd

Subject to due diligence and approval of the Botswana authorities, the directors of Shongwe Resources have agreed to transfer four licences (480km2) situated south and west of Kanye’s Ghanzi South PLs for a cash consideration equivalent to US$200,000.

Kavango and Power Metal will each contribute 50% to the acquisition cost.

VinMarsh Interprises (Pty) Ltd

Subject to due diligence and approval of the Botswana authorities, the directors of VinMarsh Interprises (Pty) Ltd have agreed to transfer four licences (2,481km2) situated on the border with Namibia in the vicinity of the border town of Mamuno for a cash consideration equivalent to US$230,000.

Kavango and Power Metal will each contribute 50% to the acquisition cost.

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   

Michael Foster

mfoster@kavangoresources.com

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker) 

+44 1483 413500

Nick Emerson

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

NOTES TO EDITORS

KAVANGO’S INTERESTS IN THE KALAHARI COPPER BELT

Kavango’s exploration licenses in the KCB include:

The South Ghanzi Project

–  50% working interests in prospecting licenses PL036/2020 and PL037/2020 (totalling 1,294km2), held in Joint Venture with Power Metal. (announced 21 September).

The LVR Project

–  Earning in a 90% interest in prospecting licenses PL082/2018 & PL 083/2018, held in a Joint Venture with  LVR GeoExplorers (Pty) Ltd (“LVR”), which cover 1,091km 2

THE SOUTH GHANZI PROJECT GEOLOGICAL SETTING

The South Ghanzi Project and LVR Project areas include lengthy redox boundaries, close to surface, that represent excellent exploration targets.

The redox boundaries were formed several hundred million years ago in active sedimentary basins flooded by shallow seas. Organic matter accumulating on the sea floor created anoxic conditions, which formed a chemical barrier to metal ions rising upwards through the sediments as the basin subsided. The change in chemistry caused the precipitation of metal species (carbonates, sulphides etc.) including copper and silver on or just below the redox boundary.

Subsequent tectonic activity folded the sedimentary layers, which was often accompanied by the concentration of metals into the fold hinges. The upward rock slopes of these fold hinges are known as synclines, while the downward rock slopes are called anticlines.

Several large-scale copper/silver ore deposits have been discovered on the KCB in such hinges in areas now held under licence by Sandfire Resources (ASX:SFR) and Cupric Canyon (a privately owned mining company). These deposits are relatively close to surface and are amenable to open pit mining operations.

Accumulations of sulphide metals can be traced along the strike of the redox boundaries (sometimes for many kilometres), since they often have a higher magnetic signature than the surrounding rock.

THE DITAU PROJECT

The Ditau Project comprises two prospecting licences (“PLs”) (PL169/2012 & PL010/2019)  that cover an area of 1,386km 2 . Geophysical and geochemical analyses by Kavango in the two PLs have identified 10 “ring structures” (including at least one possible kimberlite).

The “ring structures” represent potential carbonatites.

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.

One of the ring structures is a 7km x 5km magnetic and gravity anomaly with significant zinc-in-soils values. Assay and whole rock geochemistry results from two drill holes drilled on this ring structure in 2019 by Kavango demonstrated the presence of an extensive zone of altered Karoo sediments sitting above a mafic intrusive body. The alteration extended to over 300m in depth in both holes, which were 1.8km apart. The geochemistry obtained from the drill core suggested that the alteration was due to “fenitization”, a type of extensive alteration associated with alkali magmatism and carbonatites. 

Fenite alteration is particularly associated with carbonatite intrusions, where it occurs as an aureole or halos around the carbonatite intrusive. It can indicate the presence of mineralised intrusions in a similar way that alteration patterns are used in other ore systems, such as porphyry copper deposits.

Kavango suspects that the post-Karoo fenitized rocks intersected at Ditau may be comparable to the Longonjo carbonatite in Angola being developed as a neodymium and praseodymium open pit mine by Pensana Metals Limited.

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