Kavango Resources PLC (LON:KAV) shares jumped higher on Thursday as the explorer highlighted progress at key projects in recent months.
In an update, the group said its flagship Botswana exploration assets continue to advance and it noted that there has so far been minimal disruption as a result of the coronavirus (COVID-19) pandemic, as it had already focused work on desktop-based analysis and modelling.
For the Kalahari Suture Zone (KSZ), for example, the company said it and its consultants are presently constructing a new model incorporating findings from a successful 2019 drill programme, with the aim of defining high-grade targets for the next campaign. Kavango noted that it is fully funded to the next phase of exploration at KSZ.
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At the Kalahari Copper Belt (KCB) meanwhile, the group said there is an ongoing desktop examination of data, reports, maps and research.
And at the Ditau project, which is a joint venture with Power Metal Resources (LON:POW), it said planning is underway, for orientation work that will guide future campaigns.
"Following completion of our recent strategic financing, we are extremely pleased to report on the progress we have made over recent months,” said Michael Foster, Kavango chief executive.
“We have kept dilution to a minimum, as we now enter the next crucial phase of exploration across our portfolio of projects."
“Our goal is to discover world-class metal deposits in Botswana. Thanks to the evidence we have gathered in the field from surveys and drilling we are well-positioned to build sophisticated geological models to hone future high-priority target selection," he added.
In early trade on Thursday, Kvanago shares jumped 36% higher to 0.85p.
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