14 May 2024
Kavango Resources
("Kavango" or "the
Company")
BOTS - KCB landmark drill contract
signed
Kavango Resources plc (LSE: KAV), the Southern
Africa focussed metals exploration company, is pleased to announce
that it is has placed a drill contract for the first phase of
stratigraphic drilling on the Kalahari Copper Belt (KCB) Karakubis
Project.
Highlights
·
Contract placed for first phase of 5,000m diamond core
drilling on the Karakubis Project tenements in western
Botswana.
·
Program comprises 10-15 holes and is expected to commence in
June 2024.
·
Contractor is Mitchell Drilling Botswana (Pty) Ltd
('Mitchell'), who have completed multiple successful diamond
drilling programs in the KCB for other clients.
·
Mitchell is a subsidiary of Mitchell Drilling International,
a contractor who have drilled over 5
million metres for mineral exploration across the world.
·
Drilling is designed to test stratigraphic position and
structural features interpreted from heliborne electromagnetic
(AEM) survey, previously reported (>>>
2 April 2024).
·
Drilling aims to follow up:
1. Targets previously identified by
a combination of historic AEM, and Induced Polarisation (IP)
surveys, and geological interpretation on the recently acquired
ENRG licences that were never drill tested, and;
2. New targets being generated from
interpretation of Kavango's AEM, magnetic and gravity survey flown
in December 2023 and January 2024.
·
Drilling expected to last four months and will be undertaken
in a phased programme starting with one rig and scaled up to two
rigs drilling day and night shifts.
Ben Turney,
Chief Executive Officer of Kavango Resources,
commented:
"This is
Kavango's best prepared and most important drill campaign. We are
pursuing large-scale copper targets in the Kalahari Copper Belt.
Our primary objective is to prove a copper mineralising system
exists in our Karakubis licences. If we are successful, this will
be transformational for our business.
We look
forward to working with Mitchell to deliver a rapid drill program
to test the structures and trap zones our team has identified. This
program will be delivered quickly, starting with one rig and
quickly scaling up to a second rig. We expect to complete drilling
within 4 months.
While there
are no guarantees in exploration, the work our team has done
maximises our chances of success. We enter this landmark drill
campaign with a sense of growing optimism."
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.