05 August 2024
Kavango Resources
("Kavango" or "the
Company")
BOTS - New Ditau Technical
Report
Kavango Resources plc (LSE: KAV), the Southern
Africa focussed metals exploration company, is pleased to announce
the release of a new National Instrument 43-101-Technical Report
(the "Technical Report") for its 100%-owned Ditau Project ("Ditau")
in Botswana.
The Technical Report has been completed by
internationally recognised mining advisor, SLR Consulting (Canada)
Ltd ("SLR") and recommends next steps for Kavango's exploration at
Ditau.
Highlights
· SLR
was selected to prepare the Technical Report because of its
extensive understanding of the types of deposit and targets
associated with the Ditau Project.
· The
Ditau Technical Report can be read on the Company's
website.
· SLR
concludes that Ditau is an attractive early-stage exploration
project with the potential to host a variety of mineralisation
styles, warranting a systematic exploration effort consisting of
detailed geophysical surveying and a significant amount of
drilling.
·
Prospective mineralisation targets include:
·
Banded Iron Formation ("BIF")-hosted orogenic gold
·
Iron oxide copper-gold ("IOCG"), and
·
Rare earth element ("REE")-bearing carbonatites.
· SLR
has made recommendations for future work programs, which Kavango is
presently evaluating.
Ben Turney,
Chief Executive Officer of Kavango Resources,
commented:
"SLR's new
report underlines the discovery potential within Kavango's Ditau
Project in Botswana for a range of critical and precious
metals.
The Ditau
Project provides us with a longer-term, blue-sky exploration
opportunity. This strategically complements our nearer-term
exploration efforts in the Kalahari Copper Belt, where we are
currently drilling testing a large copper system, and Zimbabwe,
where we're drilling to discover bulk-minable gold
deposits.
SLR has
consolidated the large datasets Kavango has gathered at Ditau to
provide clear recommendations for the direction of future
exploration. We are currently considering these recommendations and
will update the market when we've decided on the way forward that
has the greatest impact."
Background to
the Technical Report
SLR Consulting (Canada) Ltd. ("SLR") was
retained by Kavango to prepare an independent Technical Report on
the Ditau Project, located in Kgalagadi District, southwestern
Botswana. The purpose of this Technical Report is to document the
technical information available on the Project and to propose
additional work. The Technical Report conforms to National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI
43-101").
Figure 1: The location of Kavango's
exploration tenements in Botswana
SLRRecommendations
As exploration of the Ditau system intersected
by hole DITDD004 is at an early stage, SLR recommends that Kavango
maintain the existing land position by completing at least the
minimum exploration expenditures required to renew the current
Prospecting Licences ("PLs"). Renewal of the PLs will provide
Kavango with flexibility to pursue the current target as well as
untested geophysical targets elsewhere on the Property.
SLR recommends a two-phase work program. The
recommended Phase I work program consists of:
1. An upgraded, re-interpretation
of the regional airborne magnetic data with the input of a
structural geologist followed by:
2. Combined helicopter-borne
electromagnetic (EM) and very high resolution horizontal gradient
enhanced magnetic surveying over targeted areas to define
structures that could be critical to controlling mineralized zones,
regardless of the model invoked.
3. Follow up ground magnetic
surveying.
4. Deep penetrating gradient array
induced polarization (IP) surveying tuned to local conditions over
specific target areas as defined by the airborne magnetics would
identify drill targets.
SLR further states that completion of the
proposed Phase I program is expected to develop several high
priority drill targets. Contingent on the Phase I program results,
a Phase II program would consist of diamond drilling to test Phase
I targets. The budget for the Phase II program would depend on the
number and depth of higher priority areas identified in Phase
I.
Kavango is presently considering these
recommendations and next steps for the project.
Further information in respect of Kavango 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
+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 Kanago
Resources plc.
References
Technical Report on the Ditau
Project, Kgalagadi District, Southwestern Botswana Report for NI
43-101 by SLR (Canada) Ltd, 24 June 2024.