17 June 2024
Kavango Resources
("Kavango" or "the
Company")
BOTS -KCB drilling commences
Kavango Resources plc (LSE: KAV), the Southern
Africa focussed metals exploration company, is pleased to announce
the Company has commenced drilling its first high priority targets
at the Karakubis Copper Project in Botswana's Kalahari Copper Belt
("KCB").
Highlights
· Kavango has identified 15 high
priority targets for its first phase of drilling.
· Drill holes have been designed
to check favourable trap sites modelled from geophysical data,
confirm stratigraphy, and assess the potential to host large scale
copper-silver mineralisation.
· Kavango's high priority
targets are all located above interpreted, doubly-plunging fold
structures over gravity highs where associated faulting is thought
to be favourable for trap site development.
· The Company's first phase of
drilling, totalling approximately 5,000 m, will test relatively
shallow targets between 150 m and 350 m below surface.
· Kavango's contract driller,
Mitchell Drilling, is set up on site and prepared to begin drilling
this week.
· Further priority targets are
anticipated as data processing and interpretation are completed for
survey results from Survey Blocks 1A and 1B.
Ben Turney,
Chief Executive Officer of Kavango Resources,
commented:
"This is the
most sophisticated drill campaign ever undertaken by Kavango. Over
the last 2 years, we've made substantial improvements to our team
and exploration methods. This has culminated in this 5,000m diamond
drill programme and I would like to thank all our people for their
creativity and commitment in making this happen.
Assembling
the first 15 high priority drill targets has been a superb team
effort and we are confident in the work we've completed. We've
assembled a wide ranging and comprehensive data set over Karakubis.
We've then compared the results of this with what is known about
major discoveries elsewhere on the Kalahari Copper Belt. Finally,
we believe we've identified the correct regional structures and
trap sites for large-scale copper/silver
deposits.
Our immediate
objective now is to test these probable trap sites and prove that
copper mineralising fluids passed through our ground. If we can
achieve this it will be a transformational event for Kavango's
shareholders.
I wish our
team every success in the coming months and look forward to our
first results later this summer."
Drill
Objective
The exploration and drilling strategy at
Karakubis aims to validate the interpretations made to date by
establishing the stratigraphic position, verifying the presence of
structural trap sites and proving the presence of a copper/silver
mineralising system through identification of path finder
minerals.
Further work will be undertaken based upon
interpretation of the results.
For further information please
contact:
Kavango
Resources plc
Ben Turney
+46 7697 406 06
First Equity (Broker)
Jason Robertson
+44 207 374 2212
Kavango
Competent Person Statement
The technical information contained in this
announcement pertaining to geology and exploration have been read
and approved by Brett Grist BSc(Hons) FAusIMM (CP). Mr Grist
is a Fellow of the Australasian Institute of Mining and Metallurgy
with Chartered Professional status. Mr Grist has sufficient
experience that is relevant to the exploration programmes and
geology of the main styles of mineralisation and deposit types
under consideration to act as a Qualified Person as defined in the
2012 Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. Mr Grist is an
employee of Kavango Resources plc.