Kavango Resources PLC (LON:KAV) KCB – Enhanced drill target resolution over PL082

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to report that infill soil sampling has successfully enhanced target resolution at its Kalahari Copper Belt (“KCB”) licence PL082/2018, ahead of drilling.

Based on in-house data analysis, Kavango’s technical team believes PL082/2018 is a possible analogue to Khoemacau’s Banana Zone deposit, which sits immediately to the south of Ghanzi Ridge and which has been reported as having an estimated total mineral resource of 55.8Mt @ 1.1% Cu & 16.4g/t Ag.

HIGHLIGHTS

– Infill soil sampling has confirmed and extended the existing two target zones within PL082/2018 (announced >>> 26 August 2022) and added a third new target zone (the “Target Zones”)

– 312 soil samples taken, to add to the 3,182 existing samples

– Line spacing reduced to 400m from 800m in prospective areas

New Target

– The “Middle Zone” is located between the Northern Zone and Central Zone, with a 1.25km strike and peak value of 35ppm Cu

Enhanced targets

– Northern Zone: strike length extended to 9km from 8km and maximum strike width extended to 650m from 400m

– Central Zone: elevated copper (Cu) levels along 27km strike length confirmed

Next steps

– Up to 17km of Controlled-Source Audio MagnetoTelluric (“CSAMT”) survey lines

– Reverse Circulation (“RC”) and/or diamond drilling within the Target Zones

Kavango has provided a map showing the Target Zones at PL082/2018 on the Company’s website, via the link below:

https://www.kavangoresources.com/media-library/news-release-media/rns29september2022

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

“This latest infill soil sampling on PL082 underscores Kavango’s rigorous approach towards exploration, prior to drilling. The results are particularly encouraging in that they strengthen and extend our existing targets (the Northern and Central Zones), while adding a third entirely new target (the Middle Zone).

PL082/2018 is among the most promising of our 12 prospecting licences in the Kalahari Copper Belt due to its favourable regional geological structures, the consistent copper values we’ve encountered, and what we believe are significant geophysical similarities to Khoemacau’s nearby Banana Zone deposit.

We now have mobilised CSAMT equipment to help us learn more about the subsurface structures in this area, as a final step before drilling.”

Infill soil sampling details

Kavango previously identified two discrete copper geochemical anomalies, which align with mapped underlying geology at PL082/2018:

I) Central Zone (Cu: >30ppm, Max 118.8ppm)

– Follows the geological trend of a sub outcropping anticline. This anticline forms the dome that hosts the Zeta and Plutus copper deposits located by Discovery Metals to the North East. The elevated copper values are postulated to represent a possible leakage zone from an underlying redox contact

– The unit has been mapped to extend over the entire length of PL082/2018, extending over 27km, and is also characterised by a zone of elevated magnetic response

II) Northern Zone (Cu: >30ppm, Max 39.7ppm)

– A 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 coincides with the geochemical northern zone identified in this latest work

Ahead of drilling, Kavango has completed an additional infill soil sampling programme, designed to increase the Company’s understanding of both zones and the surrounding prospective area. In total, Kavango collected an additional 314 samples on infill lines. This reduced line spacing in the high prospectivity areas to 400m from 800m and added to the existing data set of 3,182 samples previously taken.

The new data has enhanced the two existing discrete copper anomalies as follows:

– Confirmation of elevated copper readings along the Central Zone further strengthens the target’s prospectivity

– Strike extent of the Northern Zone increased to 9km from 8km and the maximum width has been widened to 650m from 400m, which may comprise up to 3 separate parallel anomalies with a peak value of 43ppm Cu (pXRF values)

The infill soil sampling has also identified an additional 1.25km long copper anomaly, which the Company has designated the “Middle Zone”:

– Located between the existing Northern Zone and Central Zone, with a peak value of 35ppm Cu (pXRF values)

– The Middle Zone aligns with the regional geological trend (NE/SW) and straddles a geological contact between two integral units of the D’kar formation.

Next steps for PL082/2018

Kavango is in the process of mobilising CSAMT equipment to PL082/2018 and expects to complete up to 17 line-km of surveys to provide resolution of the anticipated anticline structure and to ensure optimal drill orientation.

The Company intends then to follow up with an RC drill programme, as the first phase of its comprehensive KCB drill strategy (announced >>> 27 September 2022). Kavango has identified 188 drill collar locations so far across the KCB and aims ultimately to complete up to 37,600m of RC and diamond drilling.

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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