REG - Kavango Resources - BOTS – New Ditau Competent Persons Report

Kavango ResourcesAnnouncement

05/08/2024 07:00

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RNS Number : 0780Z  Kavango Resources PLC  05 August 2024

05 August 2024

Kavango Resources

("Kavango" or "the Company")

BOTS - New Ditau Technical Report

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals
exploration company, is pleased to announce the release of a new National
Instrument 43-101-Technical Report (the "Technical Report") for its 100%-owned
Ditau Project ("Ditau") in Botswana.

The Technical Report has been completed by internationally recognised mining
advisor, SLR Consulting (Canada) Ltd ("SLR") and recommends next steps for
Kavango's exploration at Ditau.

Highlights

·    SLR was selected to prepare the Technical Report because of its
extensive understanding of the types of deposit and targets associated with
the Ditau Project.

·    The Ditau Technical Report can be read on the Company's website
(https://kavangoresources.com/investor-relations/reports) .

·    SLR concludes that Ditau is an attractive early-stage exploration
project with the potential to host a variety of mineralisation styles,
warranting a systematic exploration effort consisting of detailed geophysical
surveying and a significant amount of drilling.

·    Prospective mineralisation targets include:

·    Banded Iron Formation ("BIF")-hosted orogenic gold

·    Iron oxide copper-gold ("IOCG"), and

·    Rare earth element ("REE")-bearing carbonatites.

·    SLR has made recommendations for future work programs, which Kavango
is presently evaluating.

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

"SLR's new report underlines the discovery potential within Kavango's Ditau
Project in Botswana for a range of critical and precious metals.

The Ditau Project provides us with a longer-term, blue-sky exploration
opportunity. This strategically complements our nearer-term exploration
efforts in the Kalahari Copper Belt, where we are currently drilling testing a
large copper system, and Zimbabwe, where we're drilling to discover
bulk-minable gold deposits.

SLR has consolidated the large datasets Kavango has gathered at Ditau to
provide clear recommendations for the direction of future exploration. We are
currently considering these recommendations and will update the market when
we've decided on the way forward that has the greatest impact."

Background to the Technical Report

SLR Consulting (Canada) Ltd. ("SLR") was retained by Kavango to prepare an
independent Technical Report on the Ditau Project, located in Kgalagadi
District, southwestern Botswana. The purpose of this Technical Report is to
document the technical information available on the Project and to propose
additional work. The Technical Report conforms to National Instrument 43-101
Standards of Disclosure for Mineral Projects ("NI 43-101").

Figure 1: The location of Kavango's exploration tenements in Botswana

SLRRecommendations

As exploration of the Ditau system intersected by hole DITDD004 is at an early
stage, SLR recommends that Kavango maintain the existing land position by
completing at least the minimum exploration expenditures required to renew the
current Prospecting Licences ("PLs"). Renewal of the PLs will provide Kavango
with flexibility to pursue the current target as well as untested geophysical
targets elsewhere on the Property.

SLR recommends a two-phase work program. The recommended Phase I work program
consists of:

1.   An upgraded, re-interpretation of the regional airborne magnetic data
with the input of a structural geologist followed by:

2.   Combined helicopter-borne electromagnetic (EM) and very high resolution
horizontal gradient enhanced magnetic surveying over targeted areas to define
structures that could be critical to controlling mineralized zones, regardless
of the model invoked.

3.   Follow up ground magnetic surveying.

4.   Deep penetrating gradient array induced polarization (IP) surveying
tuned to local conditions over specific target areas as defined by the
airborne magnetics would identify drill targets.

SLR further states that completion of the proposed Phase I program is expected
to develop several high priority drill targets. Contingent on the Phase I
program results, a Phase II program would consist of diamond drilling to test
Phase I targets. The budget for the Phase II program would depend on the
number and depth of higher priority areas identified in Phase I.

Kavango is presently considering these recommendations and next steps for the
project.

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'. Mr
Grist is an employee of Kanago Resources plc.

 

References

Technical Report on the Ditau Project, Kgalagadi District, Southwestern
Botswana Report for NI 43-101 by SLR (Canada) Ltd, 24 June 2024.

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