REG - Kavango Resources - BOTS: KCB Update

Kavango ResourcesAnnouncement

22/03/2024 10:45

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RNS Number : 9789H  Kavango Resources PLC  22 March 2024

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
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/xzeo2px)
)

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
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/rmkqm2w)
).

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 9(th) of January 2024 and final NRG data was
delivered on February 26(th).  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';.

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