Kavango Resources (LON:KAV) KCB – Drilling commences at Kalahari Copper Belt, Botswana

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to announce that drilling has begun at Hole KCBRC001 within the Company’s Kalahari Copper Belt (“KCB”) project area.

Hole KCBRC001 is the first hole to test the Central Zone of PL082/2018, a well-defined copper anomaly that is 27km in strike and contains multiple targets prospective for copper/silver mineralisation.

HIGHLIGHTS

– Hole KCBRC001

– Target depth up to 250m

– Drilling commenced on Monday 10 October

– First of up to 6 exploration holes planned in current phase

– Target chosen based on highly favourable geochemical data (strong copper anomalies)

– Central Zone target

– KCBRC001 is targeting a 100m wide anomaly that has been identified by 3 adjacent points of value >30ppm copper (“Cu”) (pXRF values), spaced at 50m intervals

– Quartz veining observed at surface, as both quartz float and thin veins in in-situ D’kar formation rock

– Veining can be an indicator of potentially mineralising fluid flow, and might be associated with mineralisation at depth

– Sand cover is relatively thin (less than 5m)

– This increases Kavango’s confidence in the Cu soil geochemical readings taken

– Next steps

– Kavango is using live data from an ongoing Controlled-Source Audio MagnetoTelluric (“CSAMT”) survey to enhance future drill targeting

– Potentially mineralised samples will be analysed at an internationally accredited laboratory

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

“Each hole that we drill in the Kalahari Copper Belt could lead to a significant discovery. Our team has done fantastic work over the last 18 months to bring us to this point and our future exploration is a simple numbers game. The more we drill, the greater the chance we have of success.

Reverse circulation drilling is highly cost-effective and will enable us to cover a great deal of ground in a relatively short period of time. With so many high-priority drill targets across our portfolio, we are excited about what the coming months will bring.”

KCBRC001 details

KCBRC001 is targeting a discrete copper geochemical anomaly aligned with mapped underlying geology at PL082/2018 (announced >>> 29th September 2022) called the Central Zone.

The details of the Central Zone are as follows:

– Adjacent to an interpreted anticline feature. This anticline forms the dome that hosts the Zeta and Plutus copper deposits located by Discovery Metals to the North East. Kavango interprets the elevated copper values as representing a possible leakage zone from an underlying redox contact

– Quartz veining has been observed as both quartz float and as thin veins in in-situ D’Kar formation rock.

– Infill soil sampling confirmed elevated copper readings along the Central Zone’s strike length, further strengthening its prospectivity

The drilling of hole KCBRC001 is expected to complete well before the end of October.

First phase drill programme details

KCBRC001 is the first hole in a reconnaissance drill programme targeting multiple prospective targets on PL082/2018. Based on Kavango’s analysis, this prospecting licence represents a possible analogue for Khoemacau’s Banana Zone deposit, which has been reported to have an estimated total mineral resource of 55.7Mt @ 1.1% Cu & 16.4g/t Ag.

Kavango expects to drill up to 5 further holes to test other parts of the Central Zone target and the Northern Zone target.

The details of the Northern Zone target are as follows:

– Robust anomaly extending over 8km of geological strike length occurring in an area with no outcrop (under Kalahari cover) on the edge of a magnetic high that bears similarities to the Ourea and Quirinus copper deposits identified by Discovery Metals in 2009. These deposits are interpreted to be on the limbs of tight anticlines

– Previous work by Kavango identified an AEM conductor in this area extending over approximately 8km and 400m at its widest. This conductor coincides with copper readings identified in geochemical soil samples over the Northern Zone

– In contrast to other areas of the Company’s KCB projects, cover is generally thin over PL082/2018. This means that drilling conditions should be favourable for Reverse Circulation (“RC”) drilling. RC drilling is rapid and has minimal water requirements, making it a suitable and cost-effective method of reconnaissance drilling in the KCB.

Drilling is expected to complete by early November. Upon completion of each hole, samples will be sent to an internationally accredited laboratory for testing.

In parallel with drilling, Kavango is completing an CSAMT survey of up to 17 line-km within PL082/2018. The Company’s objective is to provide resolution of the anticipated anticline structure and to ensure optimal drill orientation. Future drill target locations will be finalised, based on drill data and CSAMT interpretation.

Further information in respect of the Company 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

[email protected]


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