22 March 2024
Kavango Resources
("Kavango" or "the
Company")
BOTS: KCB Update
Kavango Resources plc (LSE: KAV), the Southern
Africa focussed metals exploration company, is pleased to announce
receipt of the final geophysical survey data on its property in
Botswana's Kalahari Copper Belt ("KCB"), from South Africa based
New Resolution Geophysics ("NRG").
Highlights
· The
geophysical survey consists of 2,374 line-km of helicopter airborne
Time Domain Electromagnetic ("EM"), magnetic, and gravity data (the
"Survey").
· The
Survey expands on the airborne geophysical surveys acquired from
ENRG as part of the acquisition of the block of prospecting
licences completed in November 2023 (announced
>>> 16 November 2023)
o Kavango
intends to compile the historic ENRG AEM, magnetic and gravity
survey data together with the recent NRG Kavango AEM, Magnetic and
gravity to produce one merged and levelled data set.
· The
new magnetic data will be used to map structure and
lithology.
· The
gravity data will be used to interpret basins, which relate to
priority areas for alteration fluid traps.
o The gravity data will
also be used to verify whether the sub-basin identified in ENRG's
data extends into Block 1A.
o Kavango believes the
margins of this sub-basin could provide priority targets for trap
site development and deposit formation.
·
The geophysical processing and initial
interpretation is estimated to be completed by the end of March,
followed by ground geophysics in April and generation of drill
targets.
Ben Turney,
Chief Executive Officer of Kavango Resources,
commented:
"The
completion of the NRG geophysical survey marks the commencement of
a significant phase of exploration on the Karakubis licences.
We aim to develop target areas from the data and then follow-up
with ground geophysics immediately to develop drill targets for
copper and related metals."
The NRG
Survey
The geophysical survey consisted of 2,374
line-km of helicopter airborne Time Domain Electromagnetic ("EM"),
Magnetic, and Gravity data, all acquired on one NRG helicopter
platform. The survey was flown using a 500m line
spacing. These data will expand on the airborne geophysical
surveys already completed by ENRG on the contiguous block to the
east-southeast (announced
>>> 18 January 2024).
The NRG survey was conducted over the Karakubis
Property in north-western Botswana, on five key Prospecting
Licences ("PLs"). Block 1A licences PL046/2020, PL049/2020,
PL052/2020, PL053/2020 and its Block 1B licences PL205/2016 were
covered and are located southwest of the town of Ghanzi.
Figure 1 - Preliminary data from the
completed NRG survey overlaid on a backdrop of geology and regional
magnetics.
Kavango is also currently re-processing data
from ENRG's survey on PL203/2016 and PL127/2017 which it will add
to data from the new survey, in order to examine its working theory
that the copper/silver prospective geological and geophysical
features it interpreted from ENRG's existing airborne geophysics
survey data extends onto Kavango Block 1A.
The survey was completed on the 9th
of January 2024 and final NRG data was delivered on February
26th. The final Quality Control checks on
deliverables have been conducted and final products will be updated
immediately. The Electromagnetic is currently being inverted to
allow further analysis. The interpretation of products from
the Magnetic and Gravity data will immediately be incorporated into
the property interpretation. The geophysical processing and initial interpretation is
estimated to be completed by the end of March, followed by ground
geophysics in April and then generation of drill
targets.
Kavango intends to compile the
historic ENRG AEM, Magnetic and Gravity survey data together with
the recent NRG Kavango AEM, Magnetic and gravity to produce one
merged and levelled data set. These combined data sets will
then be used for a new geophysical interpretation of the geology
and structure and combined with AEM inversions towards the goal of
selecting target areas, prospective for alteration and copper
mineralization.
Figure 2 - Preliminary data from the
completed NRG survey, together with previous ENRG data, overlaid on
a backdrop of geology and regional magnetics.
The Magnetic data will be used to map structure
and lithology and the Gravity data will be used to interpret
basins, which relate to priority areas for alteration fluid
traps. The Gravity data will also be used to
verify whether the sub-basin identified in ENRG's data extends into
Block 1A. Kavango believes the margins of this sub-basin
could provide priority targets for trap site development and
deposit formation.
Kavango will test its model - that the
stratigraphy and lithology they have begun to map on the former
ENRG PLs extends onto the Kavango licence blocks. Kavango believes
that ENRG's data conforms to sequences in the lower
D'Kar Formation present across other parts of the KCB.
Inversions (models) of the historical
ENRG AEM data will be received within a few days and inversions on
the new Kavango AEM data will commence immediately. These
will be merged and will provide a single set of uniformly sourced
inversions across the new contiguous licence block, which will be
interpreted for target areas for ground geophysical
follow-up. Specific targets will then be selected for
drilling.
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';.