Kavango Resources (LON:KAV) New TDEM Loop Designs for the B1 Target Area

Following completion of Hole KSZDD002 to target depth of 650m (announced 28 February), Kavango Resources plc (LSE:KAV) has redesignated the B1 Conductor as the “B1 Target Area”.

The B1 Target Area is located above the Great Red Spot (the “GRS”), a large-scale 5km by 8km coincident magnetic and gravity anomaly in the northern (Hukuntsi) section of the Kalahari Suture Zone (“KSZ”).

The B1 Target Area has been re-modelled and contains two conductor targets (“the Targets”), which the Company believes are prospective for nickel/copper (Ni/Cu) sulphides.

– Target B1-1 is a shallowly dipping modelled plate, with a conductance of 16,000 Siemens. This level of conductance is consistent with possible Ni/Cu massive sulphides

– Target B1-2 is a vertically dipping modelled plate with a conductance of 2,500 Siemens, and is consistent with the presence of possible Ni/Cu net textured sulphides

The existence of the two Targets has been confirmed by a Downhole Electromagnetic (“DHEM”) survey of borehole KSZDD002, and the modelling of both the DHEM and Surface TDEM in tandem.

An intrusive Karoo gabbro was intersected at the modelled target depth of Target B1-2 in drillhole KSZDD002, which indicates the right host rock environment for Kavango’s exploration model. The Targets conform to Kavango’s idealised model for a potential massive sulphide body in a shallow dipping Karoo gabbro sill, associated with a possible Karoo gabbro vertical feeder dyke containing net textured sulphides. The Company plans to drill test the Targets with two boreholes.

To this end, Kavango has now finalised designs for new Surface Time Domain Electromagnetic surveys (“Surface TDEM”) and subsurface DHEM surveys, using two large 1km x 1km electromagnetic loops. These two loops are designed to ‘null couple’ separately with each of the two Targets, to test rigorously the new modelled conductive plates. The surveys will aim to gather data to refine the size, shape, depth and orientation of the Targets. These data will then be modelled to finalise the drill collar locations.

Kavango is in discussion with Spectral Geophysics Pty to conduct the TDEM and DHEM surveys over the B1 Target Area as soon as a team and equipment become available.

In addition to this, work is ongoing to conduct a much more extensive TDEM campaign across the Hukuntsi area of the KSZ, including (but not limited to) the GRS and the “30km Strike” target zone (announced 23 November 2021). Based on initial results from its recent drill campaign, the Company’s objective is to build an inventory of high conductance targets for future exploration and drilling.

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

“Armed with the downhole survey data we gathered from KSZDD002, we have a high degree of confidence in the configuration of the follow up Surface TDEM and DHEM surveys over the B1 Target Area. These have been designed to refine the geometries of the two targets we have modelled.

The 16,000 Siemens, slightly dipping modelled body is of most interest at this stage. As exciting as this target could be, we have to plan prudently to maximise our chances of intercepting it with the drill bit at the next attempt.

We will mobilise the team and surveying equipment to test as quickly as we can this target and the 2,500 Siemen vertically dipping modelled body.

Thanks to the drilling of KSZDD002, we now have two conductors as priority future exploration targets. I look forward to providing further updates once we have been through our process of verifying the results independently.”

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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