Watch as Ben Turney, chief executive of Kavango Resources updates Bonnie Hughes on the latest from the exploration firm’s Botswana-focused portfolio.
In the video, the pair discuss the news earlier this week that the Great Red Spot target at the company’s Kalahari Suture Zone project exhibits similar geophysical signatures to the Olympic Dam IOCG ore deposit in Australia.
Likewise, they cover Kavango’s expanded exploration programme at Ditau, where it is exploring rare earth elements, as well as progress across the firm’s licences in the Kalahari Copper Belt.
Here are some of the questions we asked:
- The placing and allocation of the funds.
- The ‘New Target’ Great Red Spot
- Expanded exploration program on Ditau
- Geophysical work done on KCB and its progress
Kavango Resources plc has been conducting exploration over this 5km x 8km magnetic body since 2018. Most recently, the Company drilled exploration holes KSZDD001 and KSZDD002 in this area. Initial results from KSZDD001 (announced 16 November 2021) provided Kavango with an exploration lead that appeared to support a late 1990’s theory about the GRS, in that it could host a form of Iron Oxide Copper-Gold (“IOCG”) style mineralisation.
IOCG systems can host highly valuable copper, gold and uranium ores. The large size and relatively simple metallurgy can produce extremely profitable mines.
Following six months of additional field exploration and detailed desktop analysis, Kavango confirms it now believes the GRS conforms to an idealized model for a large IOCG-style system.
The Company believes this is a significant development for the prospectivity of the GRS. IOCG deposits are an alteration “overprint” of the host geology when they form. Therefore, Kavango believes the IOCG model represents a second mineralisation style possibly present within the GRS, in addition to the existing potential for nickel/copper (Ni/Cu) sulphide deposits.
Ben Turney, Chief Executive Officer of Kavango Resources, commented on last Friday’s fundraising:
“We received an offer from First Equity on Friday to raise money for Kavango over the weekend. We set a maximum limit of £750,000 and received offers to subscribe for nearly double this amount.
At this stage in Kavango’s development, the additional working capital will support expanding our exploration programme. We are also conscious to manage dilution at this level. A number of workstreams are nearing completion and we will be able to deploy the new funds quickly.
We would like to thank First Equity and their clients for their strong support .”
