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Kavango Resources sees huge upside at KSZ in Botswana

Snapshot

Michael Foster, chief executive, highlighted the targets at KSZ as “highly attractive”.

Nickel -

Quick facts: Kavango Resources PLC

Price: 1.6 GBX

LSE:KAV
Market: LSE
Market Cap: £2.58 m
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  • Kavango Resources is a copper explorer focused on Botswana

  • Main projects are Kalahari Suture Zone, Ditau Project and Kavango

  • Drilling at KSZ underway

 

What it owns

Kalahari Suture Zone (KSZ)  and the Ditau Project cover 12 Prospecting Licences (6,928sq km) in the southwest of Botswana.

The targets are nickel-copper-PGE deposits associated with a 450km long structural feature.

The Kavango prospect is a potential extension of the prolific DRC-Zambia copperbelt

In September, Kavango Resources PLC (LON:KAV) signed a memorandum of understanding with LVR GeoExplorers to farm into two prospecting licences in the Botswana section of the Kalahari copper belt.

Under the terms of the farm-in deal, Kavango will have the right to earn up to a 90% interest in both or either of the licences.

One of the licences is close to MOD Resources' T3 development, while the other is near the Namibian border.

How it's doing

In October, Kavango began an initial drilling programme at KSZ.

The programme envisages some 1,000 metres being drilled across three holes, due to cut into targets at depths between 200 to 400 metres.

A Botswana company that has previously been involved in the discovery and development of a number of deposits on the Kalahari Copper Belt will handle the drilling.

In November, Kabango said the drilling had identified evidence of sulphides in two high-level gabbro sills.

Kavango said that in this type of deposit, the gabbro sills and dykes represent conduits along which large volumes of magma passed on their way to the surface.

"What is important is the amount of magma that passed through the conduit - leaving metal-rich, immiscible sulphide liquid behind to solidify into an orebody," the company said in a statement.

What the boss says: 

"We are highly encouraged by the discovery of disseminated metal sulphides in gabbro sills and the incorporation of coal seams into the melt.

"This lends significant support to Kavango's belief that the post-Karoo magma chambers emplaced along the KSZ developed sulphur-rich magma that allowed for the crystallization of large volumes of metal sulphides (copper/nickel/platinum).".

Inflection points

  • Results from drilling at KSZ
  • Completion of acquisition of Kalahari licences
  • More exploration at Ditau to understand better the geology
  • Looking for a partner at Ditau to help with cost of exploration

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Watch

Kavango Resources exploration strategy in Botswana 'appears valid and...

Kavango Resources PLC's (LON:KAV) Mike Moles updates Proactive London following the news the first phase of drilling on the company's Kalahari Suture Zone Project has wrapped up. They've tested the first three of the 15 targets identified as having potential to host massive sulphide ore...

on 16/12/19

2 min read