REG - Kavango Resources - ZIM: First Nightshift Gold Resource for Mining
20/10/2025 07:00
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RNS Number : 0011E Kavango Resources PLC 20 October 2025
PRESS RELEASE
20 October 2025
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
ZIM: First Nightshift Gold Resource for Mining
Kavango Resources plc (LSE:KAV), the Southern Africa focused metals
exploration and gold production company, is pleased to announce confirmation
of an open-pit gold deposit at the Nightshift Prospect ("Nightshift") on the
Hillside Gold Project ("Hillside"), Zimbabwe.
Highlights
· Kavango considers Nightshift to be a gold deposit, with significant
upside potential, that is expected to deliver high ore tonnes per vertical
metre and high ounces per vertical metre. These factors combined support
Kavango's strategy to exploit its gold resources to their full potential and
increase gold production via modern mechanised mining and processing methods
· A preliminary JORC-compliant Mineral Resource Estimation (the "JORC
MRE") has exceeded Kavango's expectations, and the Company is now considering
construction of an upgraded 300 tonne-per-day ("tpd") gold processing plant at
Bills Luck Gold Mine, at the Hillside Project, up from the originally planned
200tpd capacity.
o Nightshift is located 800 metres ("m") to the West of the Bill's Luck Gold
Mine, where Kavango is building its first gold processing plant. The new
resource underpins the Company's planned near-term gold production at
Hillside.
· Due to Nightshift's large footprint, the first resource definition
drill programme targeted an area that the Kavango team believed was the most
representative portion of the prospect. The objective was to identify a
near-surface gold deposit that could be brought into production immediately.
o The JORC MRE reports a total resource of 20,000 ounces of gold ("oz/Au") at
0.86 grams per tonne ("g/t"), with 11,000 oz/Au in the Indicated category and
9,000oz/Au at 0.98g/t in the Inferred category.
· Nightshift is a gold deposit that Kavango believes can support
open-pit mining in the short term, and potentially underground mining in the
future. Nightshift covers at least 700m of strike length and is roughly 200m
wide.
o The system is open at depth and the majority of the strike extent remains
untested by drilling.
o Kavango's technical team identified the potential for open-pit gold mining
at Nightshift in 2024, following mapping and exploration drilling.
o The first three exploration holes all intersected gold hosting structures
>200m vertically below surface.
· In Q1 2025, Kavango completed preliminary resource drilling at
Nightshift to test a 100m x 125m grid.
o Preliminary resource drilling tested approximately 15% of the known strike
length at Nightshift.
o The objective was to identify sufficient ore to sustain a minimum three-year
mine life in the first phase of production.
o The JORC MRE indicates that Nightshift contains sufficient mineralisation to
support the Company's initial production plans.
· Kavango's technical team is now:
o Analysing the JORC MRE with a view to commencing shallow selective open-pit
mining in H1 2026, with close spaced grade control drilling undertaken prior
to mining.
o Planning further extensive exploration drilling along strike and at depth to
test the underground potential at Nightshift.
o Completing a resource definition drill programme at Bill's Luck, with an
initial JORC MRE anticipated before year-end to guide and de-risk the
Company's 2026 mining plan.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
"This maiden JORC resource at Nightshift is a defining moment for Kavango. It
proves that our gold development strategy in Zimbabwe is working and that our
decision to focus on near surface, fast-track production targets is delivering
results.
"When we first started exploration at our Hillside Gold Project in summer
2023, our goal was to identify gold deposits that we could bring into
production rapidly using modern mining and processing methods. This maiden
resource is only the first step in what we believe will become a much larger
resource base as exploration continues.
"In just over two years, we have advanced from initial discovery to defining a
compliant open-pit resource capable of supporting near-term gold production.
This is a tremendous achievement that highlights the potential that Zimbabwe's
gold fields offer Kavango.
"This is a fantastic accomplishment by our team, who deserve all the praise
for the hard work they have put into making this happen.
"Our initial drilling covered only about 15% of the known 700-metre strike,
and just 50m vertical depth, because we were focused on defining a starter
resource to underpin early cash flow and prove the concept. The fact that the
results have exceeded expectations at this stage gives us strong confidence in
the greater potential of Nightshift.
"Given we encountered gold bearing structures >200m vertical below surface
during exploration, we are particularly excited for the underground mining
possibilities here.
"As a result, we are now assessing an increase in our production capacity at
Hillside from 200 to 300 tonnes per day to reflect the greater resource
potential we have already demonstrated.
"In addition, our exploration team will extend trenching at Nightshift to test
expansion of the known strike from 700m to up to 1,400m. At the same time, we
are preparing a diamond drill programme to test the underground potential,
where structural work completed by our team and external consultants seems to
indicate continuity of the gold-bearing structures at depth, with gold grades
increasing.
"These next steps at Nightshift form part of our wider Hillside development
strategy. With resource drilling ongoing at Bill's Luck, we hope to release a
second JORC resource at Hillside a little later this year and provide further
updates on the progress of construction of our gold processing plants.
"With gold prices strong and momentum building across our portfolio, this
marks an exciting next step for Kavango. We have demonstrated that our
strategy is working, and our focus now is on unlocking the full potential of
our gold development projects."
Kavango's Mining Strategy at Hillside
Kavango is executing a strategy of increasing gold production in Zimbabwe by
building modern Carbon in Leach ("CIL") plants, which have much higher
throughput rates and significantly higher gold recoveries than traditional
stamp and roller milling using static VAT leaching methodologies which are
widely used in Zimbabwe, and currently at Hillside.
Kavango intends to build its first CIL plants at the Bill's Luck Gold Mine,
where the Company is currently mining underground and has established surface
infrastructure. Bill's Luck is 800m from Nightshift.
Kavango is close to commissioning its first modern CIL plant at Bill's Luck
that will have a nameplate 50tpd throughput capacity. The Company intends to
feed the 50tpd plant with a combination of ore mined by Kavango from the
Bill's Luck underground operation, and the Hillside contractor-mined sands.
Following publication of the preliminary JORC MRE at Nightshift, Kavango is
currently evaluating the construction of an additional CIL plant at Bill's
Luck with nameplate 250tpd throughput capacity with the intention of
commissioning this plant by the end of H1 2026, which would take the total
processing capacity at Hillside up to 300tpd.
Kavango expects the Nightshift gold deposit will make a significant
contribution to gold production, given the indicated strike length
(interpreted to be >750m), width (interpreted to be >200m), containing
multiple shear zones hosting gold bearing quartz and sulphide veins (12
interpreted shear structures), and its shallow depth of depletion from
contract artisanal miners (circa 15-20m). Kavango believes the Nightshift
Prospect to be a significant mineralised deposit that is expected to deliver
high ore tonnes per vertical metre and high ounces per vertical metre.
Preliminary Resource Modelling at Nightshift
Due to Nightshift's large footprint and the significant time and cost it would
take to drill the whole area out completely, the first resource definition
drill programme targeted an area that the Kavango team believed was the most
representative portion of the prospect (in terms of shear development and
contained mineralised structures). This was based on the proximity, geometry
and extent of the artisanal workings and from surface mapping and structural
work completed on drill cores. The first resource definition drilling
programme utilised a 25m x 25m grid pattern with holes inclined at -60 degrees
and drilled to a 50m vertical depth. The footprint covered a strike length of
approximately 125m and width of circa 200m, representing less than 15% of the
whole prospect's footprint.
Kavango's original objective was to construct a resource model immediately
once all assays had been returned from the resource definition drill
programme. However, the logging and sampling revealed a complex gold
mineralised system that required more data, prior to being able to construct a
high confidence resource model. Depletion from artisanal workings added an
additional level of complexity to calculating a resource.
To support resource modelling, Kavango completed a series of shallow trenches
approximately perpendicular to the strike of the mineralised structures at
Nightshift, and between the rows of completed resource definition holes. The
trenches were designed to assess the lithological and structural environment,
define the depletion more accurately, and allow the resource geologist to
model the continuity of the mineralised structures between the drill hole
intercepts more confidently.
The trenches were subsequently extended beyond the initial resource definition
drilling pattern and allowed the resource geologist to extend several of the
structures along strike and close to the surface in their resource estimation.
Following the success of the first trenches, Kavango is now preparing to
extend the trenching programme at Nightshift.
Exploration Plan at Nightshift
At Nightshift, gold-bearing quartz veins have been confirmed to occur within
well-developed shear zones. Preliminary structural interpretations highlight
the importance of understanding the broader kinematic framework of these shear
zones, as it provides critical insights into the controls on mineralisation.
This knowledge is expected to inform the anticipated geometry of mineralised
domains, guide more effective exploration strategies, and assist with vein
recognition in drill core. Furthermore, if stretching lineation influenced
fluid flow during mineralisation, the associated shear zone kinematics may
offer valuable predictive guidance on the plunge orientation of potential
orebodies.
The original drilling concept for Nightshift was designed to delineate a
mineral resource over a small part (roughly 15%) of the mapped mineralisation
to form the basis for a starter open pit mine and to obtain sufficient sample
to conduct metallurgical test work, on the basis it has the highest potential
to commence commercial production in the shortest amount of time, and with the
lowest capital entry.
Subsequent interpretation and the preliminary JORC MRE have provided further
information on the extent, orientation and possible kinematics at Nightshift,
which will be used to guide additional drilling, including deeper drilling,
and to build on this preliminary JORC MRE at Nightshift.
Highlights from the JORC MRE
1 Geological Data
The mineral resource estimate is based on the following data:
· Exploration diamond drill boreholes (1,012m)
· 33 resource definition diamond drill boreholes (2,111m)
· 18 trenches (2,413m)
· Surface mapping of outcrops, combined with trench logging.
· Sectional interpretation of borehole intersections using
lithological, structural and sampling data.
2 database Integrity
The drilling and trenching geological, geotechnical, structural and sampling
information are stored in a well-structured MS Excel based database system,
where all documentation is readily available for validation and review. This
database is in the process of being captured into a geological database
management system.
Geological logging, sampling and assay data in the database was physically
checked against the drill core, sampling logs and laboratory assay
certificates. Every sample assay result was physically checked against the
laboratory assay certificate.
The small number of errors found were corrected and database integrity was
found to be good.
3 Assay Quality Control
A comprehensive assay quality control programme is in place, which complies
with industry best practice. The results of the QA/QC programme were assessed
with the following conclusions
· No sample contamination is taking place based on the results of
blank material inserted in the sample batches.
· The accuracy of the results is acceptable, based on the results
of the certified reference material inserted in the sample batches.
· Precision of the results is lower than would be expected. This is
ascribed to the low grade and nuggety nature of the gold mineralisation, and
recommendations are made to improve this.
4 Geological Interpretation
Analysis of the results from regional traverse mapping, exploration-scale
structural mapping and detailed core-logging showed that the gold
mineralisation at the Nightshift and surrounding prospects associates with
shear zones that have acted as fluid conduits and controlled the alteration,
vein density and gold mineralisation.
The shear zones mapped on surface and intersected in boreholes were modelled
in three dimensions, using geological and structural measurements to guide the
correlation. The trace of artisanal surface workings was also used to
correlate the shear zones and mineralisation.
5 Deposit Dimensions
Borehole and trench positions are surveyed by differential GPS by a qualified
surveyor. A high-resolution drone survey provides topographical control.
The deposit comprises an anastomosing set of shear zones striking WNW-ESE and
dipping at 70-80 degrees to the NNE. Individual shear zones appear to be
continuous over strike lengths of 100m or more.
The resource estimate area has a total strike of 400m, with up to 12 shear
zones with widths varying from 2m up 15m in cases. The estimated resource
extends to a depth of 50m over the resource drilling grid, with some deeper
100m intersections obtained in the scoping drilling.
6 Estimation and Modelling Techniques
Resource modelling work was completed using Surpac Vision version 6.1.3
software.
A block model with parent block sizes of 12.5m x 5m x 4m (y: strike, z:
height, x: width) was created, and sub-blocked to 0.5m x 1.6m x 0.6m to
represent the volume as accurately as possible.
Block grade estimation was completed using multiple indicator kriging (MIK), a
non-linear geostatistical method for estimating resources in deposits with
highly skewed and mixed-grade distributions, often used in gold deposits.
Estimation composites were selected from within the individual shear zone
domains, with 34 individual domains estimated.
Block estimates were validated visually on plan and section by comparing them
to the informing sample data, as well as statistically by comparing the
averages of the informing composites to the block estimates.
No prior production data or previous estimates are available for comparison.
Figure 1: Nightshift Gold Block Grade Estimates - Plan View (100m grid)
Figure 2: Nightshift Gold Block Grade Estimates - Perspective View Looking WNW
7 Mining and Metallurgical Assumptions
Mining is assumed to be undertaken initially by open cast mining of small
selective shallow open pits at the Nightshift deposit.
Due to its expected lower grade relative to other Hillside ore sources,
Nightshift ore is envisaged to not be the primary or priority ore source,
rather it will constitute a 'top up' or 'base load' feedstock for a 200 to
300tpd plant located at Hillside
Resources are reported at a marginal processing cutoff grade of 0.5g/t, which
is calculated using a gold price of $3,000 per oz and a processing cost of $35
per tonne, which includes G&A overheads ($10/tonne).
The marginal processing cutoff grade represents all potential material
contained within the resource for which gold may be extracted over the life of
the project, i.e. including that which has been stockpiled during mining, and
is processed at the end of the mine life when no mining costs are being
incurred.
Considering mining costs (expected to be $26/ore tonne) and sustaining capital
($5/tonne), the cut-off grade during normal steady state operations at
$3000/oz gold price is 0.84 g/t.
8 Artisanal Mining
Significant shallow artisanal mining has taken place at the Nightshift
prospect. The artisanal excavations were mapped on surface and the depths were
measured where possible. 3D models of the likely dimensions of the mined-out
areas were then created and this material was removed from the resource model.
Artisanal mining is currently ongoing.
9 Bulk Density Determination
Dry bulk density was determined using the Archimedes Method on a large number
of samples throughout the deposit.
10 Resource Classification
The resource was classified into confidence classifications based on the
following criteria:
Measured Resource: Based on the geostatistical analysis carried out, a
sampling grid of less than the variogram ranges of about 15m would be required
to classify measured resource. No measured resource is declared.
Indicated Resource: Blocks within 25m from a datapoint, being within the
resource drilling and trenching grid were classified as indicated resource.
Inferred Resource: Blocks between 25m and 50m from a datapoint, as well as
areas extrapolated along strike or down dip were classified as inferred
resource.
Figure 3: Resource Classification
11 Nightshift Mineral resource Estimate
The effective date of the Nightshift Resource is 30 September 2025
Resource Class Tonnes Au g/t Contained Oz Bulk Density
INDICATED 421,000 0.78 11,000 2.75
INFERRED 273,000 0.98 9,000 2.76
Grand Total 694,000 0.86 20,000 2.75
Notes:
1. Resources are reported in accordance with the JORC Code (2012).
2. Resources are reported at a cutoff grade of 0.5g/t, based on reasonable
prospects for eventual economic extraction at a gold price of $3,000/oz.
3. Rounding as required by reporting guidelines may result in apparent
summation differences between tonnes, grade and contained metal content.
12 Conclusion and recommendations
Drilling, trenching and sampling have demonstrated that a gold resource exists
at the Nightshift prospect.
Potential exists to extend the resource along strike and downdip through
further exploration.
The sampling method, sample preparation and assaying methodology employed
should be reviewed and adapted to provide more precise assay results.
Nightshift Prospect Geology:
Thin overburden (<1m) comprising mixed soil and regolith are immediately
underlain by diorite and granodiorite in the northern portion of the prospect
while metasediments and metavolcanics with Banded Iron Formation (BIF) occupy
the southern portion (Figure 4) where cover thickness increases (<2m) due
to the friable nature of the metavolcanics.
Drilling has confirmed the presence of shear zones hosting quartz veins below
the artisanal miner's surface workings, within the diorite, granodiorite,
metasediments and metavolcanics. The mapped and interpreted shear zones
display a WNW-ESE trend, dipping generally towards the NNE. The artisanal
workings on surface appear to correlate well with the mineralised zones
observed in the logged drill cores, (Figure 5).
Figure 4: Nightshift, artisanal surface workings associated with interpreted
structural features.
Figure 5: Close up photograph of cut core from borehole NSDDIR023 showing
sections of core between 56.90m and 58.11m (above) and NSDDIR024,
46.00m-52.37m (below). Quartz veins, sub-parallel to fabric and cross-cutting
fabric, thought to represent different structural events host pyrite and mixed
sulphide mineralisation in granodiorite.
Nightshift Prospect Drilling:
The initial three exploration holes drilled at Nightshift all returned
encouraging gold grades which are understood from the artisanal workers to
represent free milling coarse gold within quartz veins together with an
element of untested finer gold in sulphide stringers. Artisanal miners report
higher recovered grades from individual shears within the broader Nightshift
Prospect.
Table 1: Selected intersections from completed holes, NSDD001, NSDD002 &
NSDD003
Hole no. m From m To m Interval Gold g/t
NSDD001 14.00 15.00 1.00 1.13
NSDD001 62.00 64.00 2.00 0.78
NSDD001 90.00 90.98 0.98 0.70
NSDD001 97.00 102.00 5.00 1.68
incl 97.00 99.00 2.00 2.29
NSDD001 106.00 110.00 4.00 0.69
NSDD001 115.51 116.00 0.49 2.49
NSDD001 138.00 140.00 2.00 1.24
NSDD001 143.00 144.00 1.00 0.66
NSDD001 148.00 159.90 11.90 0.92
incl 148.00 148.97 0.97 2.14
and 156.00 157.00 1.00 3.10
NSDD001 181.00 181.99 0.99 0.63
NSDD001 195.00 198.00 3.00 1.03
NSDD001 203.00 207.00 4.00 0.63
NSDD002 0.00 3.00 3.00 0.66
NSDD002 6.00 8.00 2.00 1.21
NSDD002 13.00 14.00 1.00 1.77
NSDD002 21.00 27.00 6.00 0.51
NSDD002 66.69 74.89 8.20 3.08
including 68.39 68.74 0.35 13.82
NSDD002 105.00 111.10 6.10 0.85
NSDD002 152.48 153.19 0.71 1.52
NSDD002 196.46 197.00 0.54 0.82
NSDD002 225.87 226.87 1.00 0.63
NSDD003 6.50 8.00 1.50 0.78
NSDD003 13.00 15.00 2.00 0.75
NSDD003 23.80 24.50 0.70 0.79
NSDD003 28.00 29.00 1.00 2.08
NSDD003 31.40 32.40 1.00 0.68
NSDD003 37.00 37.40 0.40 0.79
NSDD003 62.50 65.26 2.76 0.69
NSDD003 104.40 109.40 5.00 1.80
including 104.40 104.80 0.40 5.79
NSDD003 123.50 125.00 1.50 0.80
NSDD003 152.00 153.00 1.00 0.58
NSDD003 163.00 165.00 2.00 0.87
NSDD003 193.00 195.00 2.00 1.09
NSDD003 198.44 199.00 0.56 0.75
The initial high priority target area for preliminary resource drilling
averaged 200m across strike and 100m along strike, in the vicinity of hole
NSDD0002 where Artisanal miners were producing gold from 12 surface workings
with at least two different vein orientations, from oxidised meta-sediments
above a granodiorite intrusive next to NSDD0002. This hole also intersected an
additional nine grading structures under deeper cover that have not been
worked.
Kavango successfully completed 34 diamond drill holes for a total of
2,109.16m. The holes were drilled on 25m x 25m grid centred over the initial
scoping hole NSDD002. The inclined holes (-60°) were drilled to an average
depth of 60m and the surveyed collar locations and drill hole data are
tabulated in Table 2, below.
Table 2: Drillhole collar data for holes at Nightshift Prospect
No. Hole ID Easting Northing Rl Azimuth Dip EOH depth (m) comments
1 NSDDIR001 727694 7734017 1042 208 -60 62.64
2 NSDDIR002 727682 7733995 1042 208 -60 61.32
3 NSDDIR003 727670 7733975 1043 208 -60 62.68
4 NSDDIR004 727658 7733952 1044 208 -60 61.34
5 NSDDIR005 727646 7733926 1045 208 -60 102.00
6 NSDDIR006 727629 7733899 1050 Not drilled
7 NSDDIR007 727626 7733895 1047 208 -60 101.82
8 NSDDIR008 727670 7734029 1041 208 -60 62.93
9 NSDDIR009 727657 7734006 1041 208 -60 59.98
10 NSDDIR010 727644 7733985 1042 208 -60 59.93
11 NSDDIR011 727631 7733963 1043 208 -60 61.44
12 NSDDIR012 727618 7733940 1044 208 -60 101.84
13 NSDDIR013 727605 7733919 1045 208 -60 27.27 abandoned
14 NSDDIR014 727592 7733897 1045 208 -60 60.00
15 NSDDIR015 727705 7733983 1043 208 -60 60.08
16 NSDDIR016 727693 7733959 1044 208 -60 60.32
17 NSDDIR017 727683 7733941 1045 208 -60 60.75
18 NSDDIR018 727669 7733915 1046 208 -60 60.38
19 NSDDIR019 727656 7733889 1048 208 -60 60.05
20 NSDDIR020 727647 7733872 1049 208 -60 60.68
21 NSDDIR021 727737 7733991 1043 208 -60 60.18
22 NSDDIR022 727725 7733966 1044 208 -60 60.15
23 NSDDIR023 727716 7733946 1045 208 -60 60.85
24 NSDDIR024 727706 7733925 1046 208 -60 60.79
25 NSDDIR025 727695 7733900 1047 208 -60 60.45
26 NSDDIR026 727685 7733880 1049 208 -60 62.00
27 NSDDIR027 727674 7733857 1050 208 -60 60.00
28 NSDDIR028 727761 7733979 1044 208 -60 60.88
29 NSDDIR029 727748 7733954 1045 208 -60 65.88
30 NSDDIR030 727737 7733933 1046 208 -60 62.92
31 NSDDIR031 727726 7733914 1047 208 -60 61.36
32 NSDDIR032 727712 7733894 1048 208 -60 62.00
33 NSDDIR033 727704 7733873 1049 208 -60 61.40
34 NSDDIR034 727691 7733847 1052 208 -60 62.85
Total meters 2109.16
~Drill collars were surveyed by DGPS
Notes:
1. Drill hole NSDDIR006 was not drilled due to the proximity of
artisanal surface workings. Drill hole NSDDIR005 was extended to compensate.
2. NSDDIR013 was stopped due to intersecting voids and broken ground,
thought to be back filled artisanal workings, and NSDDIR012 was extended to
compensate. All the other holes were successfully drilled and completed.
Next Steps
The preliminary JORC MRE announced here provides the stepping stone to build a
larger resource at Nightshift across the whole Prospect, Figure 6, and assess
the extent of mineralisation along and across strike and at depth.
Figure 6: Nightshift Prospect, mapping and extents of preliminary JORC MRE
model
Kavango's Operations in Zimbabwe
Kavango is exploring for gold deposits in Zimbabwe that have the potential to
be developed into commercial scale production quickly through modern
mechanised mining and processing. The Company is targeting both open-pit and
underground opportunities.
Kavango has two projects on the Filabusi greenstone belt, Hillside and Nara.
Kavango owns 100% of the Hillside Gold Project, having exercised its option in
April 2024. Here, the Company has three high priority targets it aims to bring
into production over the next 18 months: Bill's Luck, Steenbok and Nightshift.
At Nightshift, Kavango is investigating the potential for a selective open-pit
mining operation, followed by underground mechanised mining. Meanwhile, at
Steenbok, Kavango is pursuing a high-grade mechanised underground mining
opportunity. Kavango is currently analysing the latest drill data from Bill's
Luck and will provide an update shortly.
In addition, Kavango owns 100% of the Nara Gold Project, having exercised its
option in June 2025. Here, the Company is exploring for a large-scale,
mechanisable underground gold deposit. The primary target zone is around the
historic N1 mine, where the Company is assessing the potential to expand
artisanal workings both at depth and along strike.
Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com
(http://www.kavangoresources.com/) and on X at @KavangoRes.
For further information, please contact:
Kavango
Resources plc
Ben Turney
+46 7697 406 06
Shard Capital (Broker)
Damon Heath
+44 (0) 207 186 9952
BlytheRay (Financial PR)
Tim Blythe/Megan Ray/Said Izagaren
kavango@blytheray.com (mailto:kavango@blytheray.com)
Tel: +44 207 138 3204
Kavango Competent Person Statement
Steve Savage
The maiden resource for Nightshift was prepared by Mr Stephen John Savage from
S. J. Savage Consulting CC. Mr Savage is a geologist with a BSc (Hons) and
M(Eng) from the University of the Witwatersrand. He is a member of the
Geological Society of South Africa (60508) and is registered with the South
African Council for Natural Scientific Professions (400205/04), a Recognised
Professional Organisation (RPO) under the JORC code, and therefore meets the
requirements as a recognised Competent Person (CP). Stephen has 30 years'
experience as a geologist, of which 20 years is experience in mineral resource
estimation on a variety of projects in Southern Africa including gold as well
as other precious, base and industrial minerals.
Craig Hatch
The technical information contained in this announcement pertaining to mining
and processing has been compiled by Mr Craig Hatch, a Competent Person and a
member of a Recognised Professional Organisations (ROPO). Craig Hatch has
sufficient experience that is relevant to the style of mining and type of
deposit under consideration and to the activities being proposed to qualify as
a Competent Person as defined in the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC
2012). Craig is the Principal Mining Engineer of Minorex Pty Ltd and a
consultant to Kavango Resources and is a member of the Australasian Institute
of Mining and Metallurgy (AusIMM), a recognised professional organisation.
Dave Catterall
The technical information contained in this announcement pertaining to geology
and exploration have been compiled by Mr David Catterall, a Competent Person
and a member of a Recognised Professional Organisations (ROPO). David
Catterall has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC 2012). David is the principal geologist at
Tulia Blueclay Limited and a consultant to Kavango Resources. David Catterall
is a member of the South African Council for Natural Scientific Professions, a
recognised professional organisation.
Appendix 1 JORC Code. 2012 Edition - Table 1 report
30(th) September 2025
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques Nature and quality of sampling (e.g. cut channels. random chips. or specific · The information in this release relates to the technical details from
specialised industry standard measurement tools appropriate to the minerals the Company's exploration and drilling programme at Hillside Project which
under investigation. such as down hole gamma sondes. or handheld XRF lies within the Filabusi Greenstone Belt, Matabeleland, Zimbabwe.
instruments. etc). These examples should not be taken as limiting the broad
meaning of sampling. · Surface Diamond drilling (HQ & NQ) was carried out, and half core
samples were taken from the entire hole.
· Trenching was carried out with continuous sampling along the entire
sidewall of the trench.
· Core was cut into two using a commercial core saw adjacent to the Ori
line to produce two splits as mirror images with regards to igneous textures,
sedimentary bedding where possible structural fabric.
· For core and trenches, samples were taken based on geological contacts,
and/or of up to approximately 1m in length. The minimum sample width is 30cm
to cater for distinct quartz veins which may be diluted and obscured if 1m
widths were to be maintained.
· Core samples were submitted for a 25g fire assay with AAS finish. to
Performance Laboratories (Pvt) Ltd., at Harare, Zimbabwe.
· All samples >5g/t are repeated using a gravimetric finish.
· Selected samples from were sent to a check lab, ALS laboratories,
Johannesburg, for referee fire assay comparison.
· Kavango routinely takes pXRF readings along the core using an Olympus
Vanta on Geochem 3 beam mode for 60 seconds.
Include reference to measures taken to ensure sample representivity and the · All Kavango's drill and trench samples were geologically logged by
appropriate calibration of any measurement tools or systems used suitably qualified geologists on site.
· Sample representativity was ensured where possible by drilling
perpendicular to structures of interest, and by the sample preparation
technique in the laboratory.
· The entire borehole or trench was sampled based on geological
logging, with the ideal sampling interval being representative of lithology
for diamond core.
· Individual samples are weighed at the field camp.
· Upon arrival at Performance lab, the samples are dried at +/- 105
degrees Celsius for 8 to 12 hours.
· The entire sample is crushed to 100% passing 4.75mm. The crushers
have inline rotary splitters that split off 500g of sample that is pulverized.
· The 500g split is pulverized in a Rocklabs pot and puck pulveriser
with 85% passing minus 75μm.
· A standard 25g aliquot is used for Fire Assay.
· Following industry best practice. a series of certified reference
materials (CRM's), duplicates and blanks were included for QAQC as outlined
further below.
Aspects of the determination of mineralisation that are Material to the Public
Report.
In cases where 'industry standard' work has been done this would be relatively
simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from
which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other
cases. more explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or mineralisation
types (e.g. submarine nodules) may warrant disclosure of detailed information.
Drilling techniques Drill type (e.g. core. reverse circulation. open-hole hammer. rotary air · The surface diamond drill holes were drilled using a diamond drill
blast. auger. Bangka. sonic. etc) and details (e.g. core diameter. triple or operated by Equity Drilling Limited.
standard tube. depth of diamond tails. face-sampling bit or other type.
whether core is oriented and if so. by what method. etc). · Equity uses HQ and NQ diameter conventional core barrels.
Drill sample recovery Method of recording and assessing core and chip sample recoveries and results · Core recovery was monitored closely throughout from all diamond and RC
assessed. drilling programmes.
· Recovery in rock was >95%.
· Any voids were noted.
Measures taken to maximise sample recovery and ensure representative nature of · Samples prepared for assay are taken consistently from the same side of
the samples. the core cutting line to avoid bias.
· Geologists frequently check the core cutting procedures to ensure the
core cutter splits the core correctly in half.
· Core samples for assay are selected within logged geological,
structural, mineralisation and alteration constraints.
· Diamond drill core samples are collected from distinct geological
domains with sufficient width to avoid overbias.
Whether a relationship exists between sample recovery and grade and whether · For both Diamond and RC drilling the sample recoveries was generally
sample bias may have occurred due to preferential loss/gain of fine/coarse very good and as such it is not expected that any such bias exists.
material.
· Trench channel sampling was done at a consistent channel width and
depth or the sample interval.
Logging Whether core and chip samples have been geologically and geotechnically logged · Kavango's Diamond drill core and RC drill chips are logged by a
to a level of detail to support appropriate Mineral Resource estimation. team of qualified geologists using predefined lithological, mineralogical,
mining studies and metallurgical studies. physical characteristic (colour, weathering etc) and logging codes.
· Diamond drill core was marked up on site and Geotechnical logging
was completed at the rig to ensure recoveries were adequately recorded.
· Lithological, structural, alteration and mineralisation are
logged at camp.
· The core is securely stored at the base camp.
· The geologists on site follow industry best practice and standard
operating procedure for logging and handling all diamond drill core and RC
drill chips.
· The core is photographed wet and dry.
· pXRF and magnetic susceptibility data are routinely captured from
Diamond drill core and RC drill chips, every 0.5m to 1m.
· Density measurements for drill core were determined by Archimedes
density measurements i.e. using a precision balance to weigh sample in air and
in submerged in water. A representative piece of core was selected from each
sample for density measurement.
· The QA/QC compilation of all logging results are stored and
backed up on a data cloud.
Whether logging is qualitative or quantitative in nature. Core (or costean. · All logging is conducted in accordance with Kavango's SOP and
channel. etc) photography. standard published logging charts and classification for grain size,
abundance, colour and lithologies to maintain a qualitative and
semi-quantitative standard based on visual estimation.
· Magnetic susceptibility readings are also taken every metre and/or
half metre using a ZH Instruments SM-20/SM-30 reader.
· All core drilled was photographed wet and dry according to industry
best practice.
· All RC drill chips have a portion retained in chip trays for
follow=up work and to maintain a representative sample.
The total length and percentage of the relevant intersections logged. · 100% of all recovered intervals are geologically logged.
Sub-sampling techniques and sample preparation If core. whether cut or sawn and whether quarter. half or all cores taken. · Selected diamond core intervals are cut in half with a commercial core
cutter. using a 2mm thick blade
· One half is sampled for analysis while the other half is kept for
reference.
· Some of the retained half core is submitted for metallurgical test
work.
· For selected petrographic samples core is quartered.
For all sample types. the nature. quality and appropriateness of the sample · Field sample handling and preparation is suitable for all drilling
preparation techniques methods utilised.
· The laboratory sample preparation technique is considered appropriate
and suitable for the core samples and as well as for the expected grades.
Quality control procedures adopted for all sub-sampling stages to maximise · Kavango's standard field QAQC procedures for drilling samples include
representivity of samples. the field insertion of blanks, an appropriate selection of standards, field
duplicates, replicates, and selection of requested laboratory pulp and coarse
crush duplicates.
· These are being inserted at a rate of 2.5- 5% each to ensure an
appropriate rate of QAQC.
Measures taken to ensure that the sampling is representative of the in-situ · Sampling is deemed appropriate for the type of survey and equipment
material collected. including for instance results for field used.
duplicate/second-half sampling.
· Quarter diamond core duplicates are occasionally submitted to help
with understanding gold distribution and nugget effect. This could potentially
bias the sample due to the nugget effect and vein hosted nature of the
mineralisation and would reduce the sample volume. However, for resource
calculations the quarter cores results are recombined to give an averaged
result.
· Trench samples are split by cone and quartering to produce field
duplicates. The two results are averaged for resource estimation purposes.
· Laboratory duplicates are produced from the crushed and milled core.
Whether sample sizes are appropriate to the grain size of the material being · On occasions gold from this project may be coarse, therefore, some
sampled. nugget effect is expected. This is minimised by using the largest diameter of
core possible with the available equipment, and by utilising halved rather
than quartered core for assay.
Quality of assay data and laboratory tests The nature. quality and appropriateness of the assaying and laboratory · A company audit was made of the assay laboratory in this case
procedures used and whether the technique is considered partial or total. Performance Laboratories before it was engaged.
· The digest and fire assay technique provide a total analysis method.
· Between 5% and 20% of submitted samples consisted of additional blank,
duplicate (lab duplicate from splitting the pulp), and standard samples.
· Round robin and accreditation results for the laboratory were reviewed
and considered acceptable.
· The company's QAQC samples, including standards, are considered to
confirm acceptable bias and precision with no contamination issues identified.
For geophysical tools. spectrometers. handheld XRF instruments. etc. the · Kavango use ZH Instruments SM20 and SM30 magnetic susceptibility
parameters used in determining the analysis including instrument make and meters for measuring magnetic susceptibilities and readings are randomly
model. reading times. calibrations factors applied and their derivation. etc. repeated to ensure reproducibility and consistency of the data.
· An Olympus Vanta C-series pXRF instrument is used in 3-beam
geochemical mode with reading times of 60 seconds in total. Measurements are
taken on clean dry core.
· For the pXRF results no user factor was applied as per Kavango's
SOP. The units are calibrated daily with their respective calibration disks.
· In the case of multiple pXRF the data will be collated and user
factors calculated to ascertain their effectiveness.
Nature of quality control procedures adopted (e.g. standards. blanks. · All QAQC samples were reviewed for precision and accuracy. Results
duplicates. external laboratory checks) and whether acceptable levels of were deemed repeatable and representative:
accuracy (i.e. lack of bias) and precision have been established.
· For pXRF appropriate certified reference materials are inserted on a
ratio of 1:25 samples.
· Repeat readings are taken every 25 samples. and blank samples are
inserted every 25 samples.
· QAQC samples are reviewed for consistency.
· pXRF CRM values show a slight positive bias. including for Cu.
· At low levels (<10ppm) silver values in particular are scattered.
· When laboratory assay results are received blank, standard, and
duplicate values are reviewed to monitor lab performance.
· Select low, moderate and high-grade assay samples are selected,
re-labelled and re-submitted to Performance to assess repeatability.
· Select low, moderate and high-grade assay samples will also be sent
for check analysis at an internationally accredited laboratory.
· Performance Lab insert their own CRM's, duplicates and blanks and
follow their own SOP for quality control.
· Performance Laboratories are locally accredited but not
internationally accredited.
· Kavango is aware of this and carries out exhaustive QAQC checks and
works with Performance to ensure accuracy and repeatability.
· A series of samples, including one entire hole from twinned pair have
been sent to Performance in Zimbabwe and ALS Laboratories in South Africa,
with acceptable results
· Further external referee laboratory checks will be carried out as and
when sufficient holes have been drilled to warrant.
Verification of sampling and assaying The verification of significant intersections by either independent or · All drill core intersections were verified by peer review.
alternative company personnel.
· The Company's internal CP reviewed sampling and has visited site and
the laboratory to verify protocols.
· Assay data was received as assay certificates and cross checked
by an independent CP against sample submission data to ensure a correct match.
The use of twinned holes. · No twinned hole drilling has been carried out.
Documentation of primary data. data entry procedures. data verification. data · All data is electronically stored with peer review of data
storage (physical and electronic) protocols. processing and modelling.
· Data entry procedures standardized in SOP data checking and
verification routine.
· Data storage is on a cloud storage facility with access controls
and automatic backups.
Discuss any adjustment to assay data. · No adjustments were made to assay data.
Location of data points Accuracy and quality of surveys used to locate drill holes (collar and · Kavango's surface drill collar coordinates are captured by using
down-hole surveys). trenches. mine workings and other locations used in handheld Garmin GPS and verified by a second handheld Garmin GPS.
Mineral Resource estimation.
· Drill holes are routinely re-surveyed with differential DGPS at
regular intervals to ensure sub-metre accuracy as and when sufficient holes
warrant.
· Downhole surveys of drill holes were done using an AXIS Champ Mag
tool or the Champ Gyro (for DTH).
Specification of the grid system used. · The grid system used is UTM 35S Arc 1950. All reported coordinates
are referenced to this grid.
Quality and adequacy of topographic control. · Topographic control is based on satellite survey data collected at
30m resolution. Quality is considered acceptable.
Data spacing and distribution Data spacing for reporting of Exploration Results. · Data spacing and distribution of all survey types is deemed
appropriate for the type of survey and equipment used.
Whether the data spacing. and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the Mineral Resource · The drilling programs are designed to target the multiple
and Ore Reserve estimation procedure(s) and classifications applied. interpreted parallel auriferous veins at the Nightshift Prospect Claims.
Whether sample compositing has been applied. · No composite samples have been done
Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible · Hole orientation is designed to intersect the target structures
structures and the extent to which this is known. considering the deposit as perpendicular as is practical.
type.
· This is considered appropriate for the geological setting and for
the known mineralisation styles.
If the relationship between the drilling orientation and the orientation of · Existence, and orientation of preferentially mineralised
key mineralised structures is considered to have introduced a sampling bias. structures is not yet fully understood but current available data indicates
this should be assessed and reported if material. mineralisation occurs within steep. sub-vertical structures, with the
possibility of plunging "ore-shoots".
· The drillholes are inclined towards the target, which is
understood to dip towards the drillhole at a steep angle (actual geometry to
be confirmed by a second hole on section in the future).
· The relatively short sample length (typically 1 m) allows for
relatively accurate localization of mineralisation.
· No significant sampling bias is therefore expected.
Sample security The measures taken to ensure sample security. · Diamond core and trench samples are stored at a secure facility at
the field office.
· Sample bags are logged, tagged, double bagged and sealed in plastic
bags stored at the field office.
· Samples are stored in a locked company compound at site and in a
locked container in Bulawayo. They are shipped onwards to the analytical
facility by a reliable commercial courier.
· Sample security includes a chain-of-custody procedure that consists
of filling out sample submittal forms that are sent to the laboratory with
sample shipments to make certain that all samples are received by the
laboratory.
· Prepared samples are transported to the analytical laboratory in
sealed bags that are accompanied by appropriate paperwork. including the
original sample preparation request numbers and chain-of-custody forms.
Audits or reviews The results of any audits or reviews of sampling techniques and data. · The CP has visited both site and considered practices and SOPs at both as
acceptable.
· The CP reviewed all data and spot-checked significant values versus
certificates.
JORC Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status Type. reference name/number. location and ownership including agreements or The Hillside Project consists of 44 gold claims.
material issues with third parties such as joint ventures. partnerships.
overriding royalties. native title interests. historical sites. wilderness or Kavango entered into an option agreement with the vendors, dated 25 July 2023.
national park and environmental settings.
This was exercised on 23 April 2024 with respect to Hillside and Leopard
The security of the tenure held at the time of reporting along with any known South.
impediments to obtaining a licence to operate in the area.
Leopard North remains subject to a call option valid to June 2025.
Transfer of the Claims is presently underway.
More details are provided here
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w9nq44r
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w9nq44r)
Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. The project contains a historic high-grade mine Bills Luck, which has a
history of intermittent gold production from 1916 to 1950, yielding 17,000 oz
at an average grade of 7.7g/t. After 1950, the mine saw only small-scale sand
retreatment and surface workings.
It is currently being mined by artisanal miners, who are under contract,
milling the ore at Bill's Luck stamp mill.
Geology Deposit type. geological setting and style of mineralisation. Bills Luck lies near the southern contact of the Filabusi gold belt and the
Bulawayan Basement Schists. Younger intrusive granites bound it to the north.
Gold mineralization appears to be associated with multiple sub parallel quartz
veins that occur in fine grained massive, sheared granite.
The general azimuth of the auriferous veins is 110(o) TN (dipping steeply to
the NNE)
Bills Luck, which has a history of intermittent gold production from 1916 to
1950, yielding 17,000 oz at an average grade of 7.7g/t. After 1950, the mine
saw only small-scale sand retreatment and surface workings.
Drill hole Information A summary of all information material to the understanding of the exploration N/A Exploration Results Not Reported
results including a tabulation of the following information for all Material
drill holes:
easting and northing of the drill hole collar
elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the
information is not Material, and this exclusion does not detract from the
understanding of the report. the Competent Person should clearly explain why
this is the case.
Data aggregation methods In reporting Exploration Results. weighting averaging techniques. maximum N/A Exploration Results Not Reported
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off
grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high-grade results and
longer lengths of low-grade results. the procedure used for such aggregation
should be stated and some typical examples of such aggregations should be
shown in detail.
The assumptions used for any reporting of metal equivalent values should be
clearly stated.
Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration N/A Exploration Results Not Reported
Results.
If the geometry of the mineralisation with respect to the drill hole angle is
known. its nature should be reported.
If it is not known and only the down hole lengths are reported. there should
be a clear statement to this effect (eg 'down hole length. true width not
known').
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts N/A Exploration Results Not Reported
should be included for any significant discovery being reported These should
include. but not be limited to a plan view of drill hole collar locations and
appropriate sectional views.
Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable. N/A Exploration Results Not Reported
representative reporting of both low and high grades and/or widths should be
practiced to avoid misleading reporting of Exploration Results.
Other substantive exploration data Other exploration data. if meaningful and material. should be reported N/A Exploration Results Not Reported
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density. groundwater. geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Section 3 Estimation and Reporting of Mineral Resources
(Criteria listed in section 1, and where relevant in section 2, also apply to
this section.)
Database integrity · Measures taken to ensure that data has not been corrupted by, for § Data is captured directly into Excel sheets. The data is then checked by
example, transcription or keying errors, between its initial collection and the geological manager, and an external database consultant.
its use for Mineral Resource estimation purposes.
§ The data was further validated during the resource estimation process with
· Data validation procedures used. 100% of the sample values checked against the assay certificates.
Site visits · Comment on any site visits undertaken by the Competent Person and the § A site visit was undertaken from the 4(th) to the 14(th) of Aug 2025 when
outcome of those visits. the geology offices, core and sampling facilities, trenches, boreholes and
outcrops were visited.
· If no site visits have been undertaken indicate why this is the case.
Geological interpretation · Confidence in (or conversely, the uncertainty of ) the geological § The mineral resource estimate is based on the following data:
interpretation of the mineral deposit.
§ Scope drilling diamond boreholes (1012m)
· Nature of the data used and of any assumptions made.
§ 33 resource drilling diamond boreholes (2111m)
· The effect, if any, of alternative interpretations on Mineral
Resource estimation. § 18 trenches (2413m)
· The use of geology in guiding and controlling Mineral Resource § Surface mapping of outcrops, combined with trench logging.
estimation.
§ Sectional interpretation of borehole intersections using lithological,
· The factors affecting continuity both of grade and geology. structural and sampling data.
§ The gold mineralisation at the Nightshift and surrounding prospects
associates with shear zones that have acted as fluid conduits and controlled
the alteration, vein density and gold mineralization.
Dimensions · The extent and variability of the Mineral Resource expressed as § The deposit comprises an anastomosing set of shear zones striking WNW-ESE
length (along strike or otherwise), plan width, and depth below surface to the and dipping at 70-80 degrees to the NNE. Individual shear zones appear to be
upper and lower limits of the Mineral Resource. continuous over strike lengths of 100m or more.
§ The resource estimate area has a total strike of 400m, with up to 12 shear
zones with widths varying from 2m up 15m in cases. The estimated resource
extends to a depth of 50m over the resource drilling grid, with some deeper
100m intersections obtained in the scope drilling
Estimation and modelling techniques · The nature and appropriateness of the estimation technique(s) applied § Estimation was done using Surpac Vision version 6.1.3 software.
and key assumptions, including treatment of extreme grade values, domaining,
interpolation parameters and maximum distance of extrapolation from data § A block model with parent block sizes of 12.5m x 5m x 4m (y: strike, z:
points. If a computer assisted estimation method was chosen include a height, x: width) was created, and sub-blocked to 0.5m x 1.6m x 0.6m to
description of computer software and parameters used. represent the volume as accurately as possible.
· The availability of check estimates, previous estimates and/or mine § Block grade estimation was done using multiple indicator kriging, a
production records and whether the Mineral Resource estimate takes appropriate non-linear geostatistical method for estimating resources in deposits with
account of such data. highly skewed and mixed-grade distributions, often used in gold deposits. No
grade capping was applied due to the estimation method being suitable for
· The assumptions made regarding recovery of by-products. skewed distributions.
· Estimation of deleterious elements or other non-grade variables of § Estimation composites were selected from within the individual shear zone
economic significance (eg sulphur for acid mine drainage characterisation). domains, with 34 individual domains estimated.
· In the case of block model interpolation, the block size in relation § Block estimates were validated visually on plan and section by comparing
to the average sample spacing and the search employed. them to the informing sample data, as well as statistically by comparing the
averages of the informing composites to the block estimates.
· Any assumptions behind modelling of selective mining units.
§ No by products were estimated
· Any assumptions about correlation between variables.
§ No selective mining units were estimated
· Description of how the geological interpretation was used to control
the resource estimates. § No production data or prior estimates are available.
· Discussion of basis for using or not using grade cutting or capping.
· The process of validation, the checking process used, the comparison
of model data to drill hole data, and use of reconciliation data if available.
Moisture · Whether the tonnages are estimated on a dry basis or with natural § Tonnages and grades are reported on a dry basis.
moisture, and the method of determination of the moisture content.
Cut-off parameters · The basis of the adopted cut-off grade(s) or quality parameters § The marginal cut-off grade of 0.5g/t is calculated based on a gold price of
applied. $3500/oz and a processing cost of $25.tonne
Mining factors or assumptions · Assumptions made regarding possible mining methods, minimum mining § Mining is assumed to be by open cast mining, mining small selective shallow
dimensions and internal (or, if applicable, external) mining dilution. It is open pits at the Nightshift deposit.
always necessary as part of the process of determining reasonable prospects
for eventual economic extraction to consider potential mining methods, but the § Due to its low grade, Nightshift ore is envisaged to not be the primary or
assumptions made regarding mining methods and parameters when estimating priority ore source, rather it will constitute a 'top up' or 'base load'
Mineral Resources may not always be rigorous. Where this is the case, this feedstock for a 200 to 300tpd plant located at Hillside
should be reported with an explanation of the basis of the mining assumptions
made. § A mining dilution of 10% is assumed.
Metallurgical factors or assumptions · The basis for assumptions or predictions regarding metallurgical § A 90% metallurgical recovery is assumed.
amenability. It is always necessary as part of the process of determining
reasonable prospects for eventual economic extraction to consider potential
metallurgical methods, but the assumptions regarding metallurgical treatment
processes and parameters made when reporting Mineral Resources may not always
be rigorous. Where this is the case, this should be reported with an
explanation of the basis of the metallurgical assumptions made.
Environmen-tal factors or assumptions · Assumptions made regarding possible waste and process residue § The more competent waste rock (ie diorite/granodiorite/BIF) will be useful
disposal options. It is always necessary as part of the process of determining material for crushing for various aggregate products and for use with the
reasonable prospects for eventual economic extraction to consider the construction of all-weather unsealed roads. The phyllite/meta sediment waste
potential environmental impacts of the mining and processing operation. While rock which is less competent will be useful material for future tailings dam
at this stage the determination of potential environmental impacts, lifts and construction due to its ability to be easily 'crushed' into clay and
particularly for a greenfields project, may not always be well advanced, the its ability to be compacted. Suitable waste dumps where the different waste
status of early consideration of these potential environmental impacts should rock materials need to be stockpiled separately will need to be designed.
be reported. Where these aspects have not been considered this should be
reported with an explanation of the environmental assumptions made.
Bulk density · Whether assumed or determined. If assumed, the basis for the § Dry bulk density was determined using Archimedes method on numerous
assumptions. If determined, the method used, whether wet or dry, the frequency representative core samples throughout the deposit.
of the measurements, the nature, size and representativeness of the samples.
· The bulk density for bulk material must have been measured by methods
that adequately account for void spaces (vugs, porosity, etc), moisture and
differences between rock and alteration zones within the deposit.
· Discuss assumptions for bulk density estimates used in the evaluation
process of the different materials.
Classification · The basis for the classification of the Mineral Resources into § The resource was classified into confidence classifications based on the
varying confidence categories. following criteria:
· Whether appropriate account has been taken of all relevant factors § Measured Resource: Based on the geostatistical analysis carried out, a
(ie relative confidence in tonnage/grade estimations, reliability of input sampling grid of less than the variogram ranges of about 15m would be required
data, confidence in continuity of geology and metal values, quality, quantity to classify measured resource. No measured resource is declared.
and distribution of the data).
§ Indicated Resource: Blocks within 25m from a datapoint, being within the
· Whether the result appropriately reflects the Competent Person's view resource drilling and trenching grid were classified as indicated resource.
of the deposit.
§ Inferred Resource: Blocks between 25 and 50m from a datapoint, as well as
areas extrapolated along strike or down dip were classified as inferred
resource
Audits or reviews · The results of any audits or reviews of Mineral Resource estimates. § No audits or reviews have been carried out as yet.
Discussion of relative accuracy/ confidence · Where appropriate a statement of the relative accuracy and confidence § Relative accuracy and confidence is included in the resource classification
level in the Mineral Resource estimate using an approach or procedure deemed where qualitative and quantitative confidence factors are used to classify the
appropriate by the Competent Person. For example, the application of resource on a local basis.
statistical or geostatistical procedures to quantify the relative accuracy of
the resource within stated confidence limits, or, if such an approach is not § No production data is available for comparisons.
deemed appropriate, a qualitative discussion of the factors that could affect
the relative accuracy and confidence of the estimate.
· The statement should specify whether it relates to global or local
estimates, and, if local, state the relevant tonnages, which should be
relevant to technical and economic evaluation. Documentation should include
assumptions made and the procedures used.
· These statements of relative accuracy and confidence of the estimate
should be compared with production data, where available.
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Copyright 2019 Regulatory News Service, all rights reservedRecent news on Kavango Resources
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