Kavango Resources PLC Botswana electromagnetic survey Phase1 complete (9674D)
15 October 2018 - 5:00PM
UK Regulatory
TIDMKAV
RNS Number : 9674D
Kavango Resources PLC
15 October 2018
PRESS RELEASE
15 October 2018
KAVANGO RESOURCES PLC
BOTSWANA HELICOPTER-BORNE ELECTROMAGNETIC SURVEY PHASE 1
COMPLETED - POSITIVE INITIAL RESULTS
Kavango Resources plc ("Kavango" or "the Company") (Ticker LSE:
KAV), the exploration group listed on the Standard List segment of
the main market of the London Stock Exchange and targeting the
discovery of world class mineral deposits in Botswana, is pleased
to announce that Phase 1 of the airborne electromagnetic
geophysical survey at its KSZ Project in southwest Botswana has
been completed and 26 conductive anomalies have been identified
from the Phase 1 programme.
Highlights:
-- Following the Company's announcement on 13 September 2018,
Geotech Airborne Geophysical Surveys of Canada has now completed
Phase 1 of the electromagnetic survey (VTEM) over the Company's
Kalahari Suture Zone Project ("KSZ") in southwest Botswana;
-- Initial results from Phase 1 of the survey covering 2,000
line-kms in the Hukuntsi area of the KSZ project has identified 26
conductive anomalies some of which coincide with geochemical
anomalies that have been previously discovered by the Company;
-- These conductive zones could indicate the presence of
sulphide orebodies; these zones have now been prioritized for
ground based follow up that includes CSAMT resistivity and Induced
Polarisation (IP) geophysical surveys;
-- In parallel, an IP survey is also underway at the Ditau
prospect, which forms part of the KSZ project, where earlier
exploration by the Company identified coincident geophysical and
base metal anomalies; subject to results, drilling could commence
before the end of the year;
-- The airborne electromagnetic survey will continue after the
Company has completed its full assessment of all the conductive
zones identified during Phase 1.
Michael Foster, Chief Executive Officer of Kavango
commented:
"We are pleased to be able to report that the initial survey
results show that various VTEM anomalies coincide with significant
geochemical anomalies.
Priority targets are now being followed up on the ground with
CSAMT resistivity and Induced Polarisation (IP) geophysical
surveys. Similar work has commenced at the Ditau licence which
forms part of the KSZ project.
We believe the under-explored area of the KSZ holds potential
for the discovery of world class base and precious metals deposits
and we look forward to announcing further results in due
course".
For further information please contact:
Kavango Resources plc
Michael Foster +44 20 3651 5705
mfoster@kavangoresources.com
City & Westminster Corporate Finance LLP +44 20 7917 6824
Nicola Baldwin
SI Capital Limited (Broker) +44 (0)1483 413500
Nick Emerson / Alan Gunn
Notes for Editors:
Kavango's 100% subsidiary in Botswana is the holder of 12
prospecting licences covering much of the KSZ magnetic anomaly that
is approximately 450km long and where Kavango is exploring for
Ni-Cu-PGE rich sulphide orebodies.
The area being surveyed displays a geological setting with
distinct similarities to the extensive Norilsk nickel, copper and
platinum group element deposits in Siberia.
Further information in respect of the Company and its business
interests is provided on the Company's website at
www.kavangoresources.com.
****************************ENDS**************************************
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END
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