REG - Kavango Resources - Metallurgical Testwork Completed at Hillside
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RNS Number : 9895E Kavango Resources PLC 20 May 2026
PRESS RELEASE
20 May 2026
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Hillside Metallurgical Testwork Programme Completed with Highly Positive
Results
Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa-focused
metals exploration and gold production company, is pleased to announce the
results from a detailed and comprehensive metallurgical testwork programme on
ore samples from the Hillside Gold Project ("Hillside"), Zimbabwe. The
programme achieved its objective of defining the optimal processing design,
processing parameters, and reagent consumption rates for the 50 tonnes-per-day
("tpd") carbon-in-leach ("CIL") gold processing plant at Hillside, and for a
future capacity upgrade.
Highlights
· Testwork completed on various blend compositions of Nightshift and
Bill's Luck ores demonstrated high metallurgical recoveries of gold within
standard processing parameters.
· Very high overall metallurgical recovery of >95% achieved in ideal
lab conditions, tested during the optimisation test work. Real-world
conditions are expected to deliver in the 90-93% recovery range.
· The Nightshift sample's gold speciation indicated 100% of the gold
was native (non-refractory), whilst speciation of the Bill's Luck sample
indicated 91% of the gold was in a free milling (native gold and Electrum)
form.
· Limited coarse gold detected in the samples tested. Gold species were
very fine-grained.
· Very low content of elements that could potentially act as pregnant
liquor gold robbers, such as native carbon minerals, and of elements that
could potentially lead to high reagent consumption, including copper and zinc.
· Variability test work indicated that a target grind size of 75
microns was optimal for recovery.
· Gravity recovery via centrifugal concentrators ranged from 50% to
90%.
· Gravity gold concentrates can be leached via standard Intensive Leach
Reactor ("ILR") technologies with up to 90% recovery after eight hours of
leaching time, and 98% recovery after 24 hours of leaching time.
· Required reagent and energy consumption rates to achieve high
recoveries are within normal ranges.
Peter Wynter Bee, Interim Chief Executive Officer of Kavango Resources,
commented:
"The team is extremely encouraged by these excellent metallurgical testwork
results. All processing parameters are considered to be within a normal range,
with no excess grinding or reagent consumption requirements. This gives us the
confidence to continue building the resource base at our Hillside projects,
with the goal of increasing gold production via future increases in processing
capacity.
"The information from the testwork will also prove invaluable for optimising
and refining the 50 tonnes-per-day plant once it is operational, which is
imminent. We would like to thank both Solo Resources and Maelgwyn Mineral
Services for their excellent work in completing such a comprehensive and
successful testwork programme."
Programme Methodology
Kavango has completed a metallurgical testwork programme in cooperation with
Solo Resources ("Solo"), using Maelgwyn Mineral Services ("Maelgwyn"), both
based in South Africa. SGS South Africa ("SGS") was subcontracted by Maelgwyn
to complete the mineralogical analysis and assessment portion of the scope.
SGS is a SANAS-accredited laboratory, and Maelgwyn is an ISO 9001:2015
certified laboratory.
A total of ten samples were utilised in the testwork programme. For further
information on sample composition and selection, please see JORC Section 1 at
the end of this release.
Composite Blend Methodology
The two main composite blends tested were those deemed to best represent the
expected feed material into the two planned processing plants at Hillside:
o 50 tpd plant - currently under construction - Composite D - 50% Bill's Luck
Underground High Grade, 50% Bill's Luck Underground Medium Grade.
o Upgrade to 250 tpd - Composite C - 70% Nightshift Fresh Rock, 15% Bill's
Luck Underground High Grade, 15% Bill's Luck Underground Medium Grade.
Other plausible feed blends to either of the above plants that were tested
included the following:
o Composite A - 50% Nightshift Fresh Rock + 50% Nightshift Oxidised Rock
o Composite B - 100% Bill's Luck (40 % BL high grade, 40% BL medium grade, 20%
BL low grade)
o Composite E - 50% Nightshift Fresh Rock, 50% Bill's Luck Fresh Rock (50% BL
high grade, 50% BL medium grade)
o Composite F - 100% Bill's Luck (50 % BL low grade, 40% BL medium grade)
o Composite G - 100% Nightshift Oxidised Rock
o Composite H - 100% Nightshift Fresh Rock
Assayed Head Grades
The average head grades assayed from each of the composite blends are shown in
the table below:
Au 1 (g/t) Au 2 (g/t) Au 3 (g/t) Au 4 (g/t) Au average (g/t)
Composite A 1.08 0.99 1.09 1.05
Composite B 4.17 3.33 2.93 3.78 3.55
Composite C 3.02 2.97 3.25 3.08
Composite D 8.15 8.42 8.21 8.26
Composite E 2.79 2.63 2.96 2.79
Composite F 2.03 2.13 2.15 2.10
Composite G 0.48 0.55 0.55 0.53
Composite H 1.75 1.82 1.71 1.76
Mineralogical Results
Mineralogical studies were conducted on Bill's Luck and Nightshift ores. The
results are very positive with negligible pregnant liquor robbers present
(Carbon), and low concentrations of elements that could lead to high reagent
consumption (i.e. Copper, Zinc).
The table below shows gold species detected.
Gold Mineral Bill's Luck Nightshift
(Fresh) (Oxide)
Native Gold (Au, Ag) 84.63% 100.00%
Calverite (AuTe2) 7.34%
Electrum (Au(Ag)) 6.40%
Aurostibite (AuSb2) 1.16%
Petzite (Ag3AuTe2) 0.48%
Total 100.00% 100.00%
The majority of the gold species for both Bill's Luck and Nightshift occur as
native gold. The gold species at Nightshift are much finer than at Bill's
Luck.
The tables below show the liberation characteristics of the gold species:
Liberation by Volume % of gold in host minerals Bill's Luck (Fresh) Nightshift (Oxide)
Locked (< 30%) 27.5% 99.5%
Low Middlings (>=30%, <60%) 9.2% 0.3%
High Middlings (>=60%, <90%) 45.3% 0.0%
Liberated (>=90%) 18.0% 0.5%
Total 100.00% 100.00%
Liberation by Exposure % of gold in host minerals Bill's Luck (Fresh) Nightshift (Oxide)
Locked (<10%) 25.5% 98.5%
Partially Exposed (10-30%) 0.8% 0.8%
Exposed (30-50%) 24.4% 0.2%
Exposed (50-80%) 31.3% 0.0%
Exposed (>=80%) 18.0% 0.5%
Total 100.00% 100.00%
The gold species at Bill's Luck (in Fresh Rock) are more easily liberated than
at Nightshift (in oxide rock).
Total Gold Recovery
Average assayed residue (tailings) grades of 0.14 grammes per tonne ("g/t")
and 0.11 g/t gold were recorded for Composites C and D during the kinetic
leach tests. These translate to total plant recoveries under ideal laboratory
conditions of 97% and 96%, respectively, for Composites C and D.
These results are highly encouraging and represent the ideal recoveries
obtained under lab conditions.
Gravity Recoverable Gold (GRG) Testing
Five Stage GRG Tests using a Falcon centrifugal gravity concentrator were
conducted on composites A, C, and D to determine GRG % versus different grind
sizes. Three Stage GRG Tests using a Falcon centrifugal gravity concentrator
were conducted on composites E, F, G, and H to determine GRG % versus
different grind sizes and fluidisation pressures.
The results clearly demonstrate the optimal grind size is at P80 = 75 microns
for all composites.
Under lab conditions, up to 69% of the gold could be recovered via gravity
concentration for Composite A, while Composite C achieved 90% gold recovery
via gravity concentration. Composite D achieved a gravity recovery of 87%.
Up to 90% of the gold could be recovered via gravity concentration for
Composites E and F, while Composite C achieved 59% gold recovery via gravity
concentration, and Composite H achieved a gravity recovery of 50%.
During plant commissioning, fluidisation pressures will be optimised within
the ranges tested.
Gravity Concentrate Leach Testing
ILR tests were performed for future reference, should an elution circuit be
chosen to be added to the processing plant(s). The testwork showed that 98% of
the contained gold in the gravity concentrate leached within a 24-hour period
under the intensive leaching conditions.
Leach Testing
Variable Leach Tests were carried out on gravity tails from the Composites to
determine optimum conditions.
1. Effect of grind size
Results indicate a clearly positive relationship between decreasing grind size
and increasing leaching recovery. The optimal grind size for leaching
conditions is P80 = 75 microns.
2. Effect of cyanide addition rate
In all samples tested, gold recovery typically increased as the cyanide
addition rate increased. A cyanide addition rate of 0.8 kg/t was selected as
the optimal set point, considering the additional cost of higher cyanide
dosing rates versus the additional gold dissolution.
3. Effect of pre-oxidation
Tests were conducted on the effect of adding air or oxygen on gold
dissolution. The addition of air or oxygen considerably increased the gold
dissolution. Atmospheric air addition alone (in the form of injected
compressed air into the slurry) increased gold dissolution by an average of
5%. Oxygen addition increased gold dissolution by an average of 10%. Due to
the cost, limited availability, and difficulties in transporting pure oxygen
in Zimbabwe, it was decided to use hydrogen peroxide as the source of oxygen.
Peroxide is added to achieve a 20 parts per million dissolved oxygen in the
leach liquor.
4. Effect of leaching time
80% of the gold with Composites C and D was dissolved with four hours of
leaching time, with a further 2% dissolved after 20 hours of leaching, and a
further 2% beyond that after 24 hours of leaching. The optimum leach residence
time was selected at 20 hours.
Gravity tails from Composites E, F, G, and H showed that up to 96.1% of the
contained gold could be dissolved for Composite H, and as low as 71.9% for
Composite E.
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
Peter Wynter Bee
+44 (0) 797 381 8125
Shard Capital (Broker)
Damon Heath/Isabella Pierre
+44 204 530 6926
Inter-Horizon Group
(Sponsoring Broker - Zimbabwe)
Lloyd Mlotshwa
lmlotshwa@ih-group.com
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
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 Organisation (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.
20 May 2026
JORC 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 · Bulk samples of 30-50 kg each were collected by hand for the purposes
specific specialised industry standard measurement tools appropriate to the of completing the metallurgical testwork programme.
minerals under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not be taken as limiting the broad · At the Nightshift deposit, 4 samples were taken from different
meaning of sampling. artisanal/small scale miner ore piles on the surface that had been recently
extracted from their pits. 2 samples taken were representative of oxidized
ore, and 2 samples taken were representative of fresh rock ore.
· From the Bill's Luck Underground, 6 samples were collected as per the
following:
· 2 representing low grade ore (>=0.5 g/t, <= 1.0 g/t)
· 2 representing medium grade ore (>1.0 g/t, <= 1.5 g/t)
· 2 representing high grade ore (> 1.5 g/t)
· Include reference to measures taken to ensure sample representivity · Large sample sizes (i.e. >30 kg each) were grabbed from the piles
and the appropriate calibration of any measurement tools or systems used. to maximise representativity.
· Samples were crushed separately over 2 stages, followed by screening
to 100% passing 2 mm. Each sample was then thoroughly blended, followed by
cone and quartering into the required portion sizes for the laboratory
testing.
· 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 · No drilled samples were used for the metallurgical testwork campaign
air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple as bulk samples were required, and insufficient representative core and/or RC
or standard tube, depth of diamond tails, face-sampling bit or other type, chip volumes were available.
whether core is oriented and if so, by what method, etc).
· Measures taken to maximise sample recovery and ensure representative · The samples taken were of a large enough volume (>30kg each) to be
nature of the samples. considered representative of the material type and grade they were taken from.
· Whether a relationship exists between sample recovery and grade and · It was noted by the laboratory that received the samples that they
whether sample bias may have occurred due to preferential loss/gain of were mostly comprised of coarse rock particles greater than 100 mm.
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · The grab samples for the metallurgical testwork were not geologically
geotechnically logged to a level of detail to support appropriate Mineral or geotechnically logged.
Resource estimation. mining studies and metallurgical studies.
· The samples were selected from suitable piles to represent their
intended classification for the planned composite blends:
· Nightshift Open Pit oxide ore
· Nightshift Open Pit fresh rock ore
· Bill's Luck underground low-grade fresh rock ore
· Bill's Luck underground medium grade fresh rock ore
· Bill's Luck underground high-grade fresh rock ore
· For all sample types, the nature, quality and appropriateness of the · The field samples were bagged and clearly tagged and labelled
sample preparation techniques.
· The laboratory sample preparation technique is considered appropriate
to ensure representativeness and homogeneity after crushing, mixing, and
splitting.
· Quality control procedures adopted for all sub-sampling stages to · Quality control procedures for sampling of output materials during
maximise representivity of samples. the metallurgical testwork campaign were managed by the laboratory Maelgwyn.
· Measures taken to ensure that the sampling is representative of the · The bulk grab samples were split by cone and quartering to produce
in-situ material collected, including for instance results for field duplicates to ensure sufficient material for the different metallurgical tests
duplicate/second-half sampling. conducted.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · No checks were made on Maelgwyn's assaying and laboratory procedures,
laboratory procedures used and whether the technique is considered partial or Maelgwyn is a reputable and ISO certified metallurgical testwork laboratory.
total.
Verification of sampling and assaying · The verification of significant intersections by either independent · No assay results from the metallurgical testwork programme were
or alternative company personnel. verified by a 3(rd) party.
· Documentation of primary data, data entry procedures, data · Data storage is on a cloud storage facility with access controls and
verification, data storage (physical and electronic) protocols. automatic backups.
· Discuss any adjustment to assay data. · No adjustments were made to assay data.
· Whether sample compositing has been applied. · Composite samples were made to create plausible mill feed blends into
the 50 tpd plant currently under construction, and a future planned 200-250
tpd plant.
Sample security · The measures taken to ensure sample security. · All 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.
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