Kavango Resources - Kalahari Copper Belt Prospecting Licences Granted
("Kavango" or "the Company")
Kalahari Copper Belt Prospecting Licences Granted
Kavango's two new PLs are located directly to the southwest of Sandfire Resource's T3 and A4 Dome copper-silver discoveries.
v Two new Prospecting Licences in the KCB - PL036/2020 and PL037/2020
- 100% owned
- Contiguous licence areas, covering 1,294.2km2, immediately south of the town of Ghanzi
- Initial 3 year licence term, which can be extended to a maximum of 7 years.
- Combined Year 1 work commitment of
- Increases the Company's exposure to the KCB following the JV Agreement with
v The KCB is a key emerging exploration province for major sedimentary copper-silver deposits
v Acquisition of further licences underway
v Easing of lockdown restrictions to commence in
- Company to reinitiate field exploration as soon as possible
v Corporate presentation updated on website
"We are delighted to have secured these two new prospecting licences. It is thanks to our in-country presence and knowledge that Kavango has been able to add to its portfolio of strategic exploration assets in the highly prospective Kalahari Copper Belt.
Given the positioning of these two new licences, in such close proximity to major copper-silver discoveries, we are eager to commence exploration here as lockdown restrictions are loosened in
About the Kalahari Copper Belt ("KCB")
The KCB stretches 1,000km from northern
In recent years the KCB has attracted substantial exploration interest. This has resulted in significant copper-silver discoveries including:
- MOD Resources' and Metal Tiger's (LSE:MTR) commercial discovery at T3, which was subsequently acquired by Sandfire Resources (ASX:SFR) ("Sandfire") in
- Sandfire's A4 Dome satellite discovery, which is located directly to the west of T3 and is subject to an ongoing resource drilling campaign, due to recommence in June.
Building a Strategic Exploration Portfolio in the KCB
Kavango is in the process of building a strategic portfolio of exploration licences in the KCB.
Prior to applying for any Prospecting Licences ("PLs"), Kavango undertakes extensive desktop and due diligence studies. In addition, the Company analyses publicly available exploration data to enhance its geological and geophysical understanding of the area.
- PL 082/2018 - (137.36km2) lies 30km north of MOD Resources' T3 mine development and is completely surrounded by MOD/Metal Tiger/Sandfire PLs including their T5, T6, T9, T10, T14 and T15 targets. The PL lies astride the main Ghanzi - Maun tarred highway.
- PL 083/2018 - (21.00km2) is close to the Namibian border south of the
The Company has confirmed that it has now been granted two further PLs, which lie in a highly prospective area immediately south of the District capital of Ghanzi:
- PL 036/2020 - (590.20km2) for initially 3yrs to 31Mar'23 -- Yr1 exploration expenditure
- PL 037/2020 - (704.00km2) for initially 3yrs to 31Mar'23 -- Yr1 exploration expenditure
- These two new PLs are 100% owned by Kavango.
Kavango has recently applied for additional PLs in prospective areas and will provide further updates in due course.
The position of Kavango's two new 100%-owned PLs, together with the two PLs subject to the LVR Joint Venture, is provided in the presentation on the Company's website.
Easing of Lockdown Restrictions in
Updated Corporate Presentation
Further to today's announcement, Kavango has updated its corporate presentation and published it on the Company's website:
For further information please contact:
+44 1483 413500
This information is provided by RNS, the news service of the
Quick facts: Kavango Resources PLC
Market Cap: £5.89 m
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