Kavango Resources Share Discussion Threads

[wi1l] 24/4/2024 07:28

Last night's rns may have been missed..........

23/04/2024 5:12pm
RNS Regulatory News


RNS Number : 7432L
Kavango Resources PLC
23 April 2024

23 April 2024

Kavango Resources

("Kavango" or "the Company")

ZIM - Hillside Option Exercise

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce that it has provided notice of exercise of the Hillside Call Option to the vendors of the Hillside Project ("Hillside") and Leopard South Project ("Leopard South"). Kavango intends to extend the Call Option on Leopard North to 30 June 2025.

Purchase agreements for Hillside and Leopard South are being drawn up by the Company's legal representatives and completion is scheduled for 15 May 2024.

Summary

· The Sellers and Kavango entered into call options in respect of the Hillside, Leopard North and Leopard South projects in a Call Option Agreement ("The Call Option") dated 25 July 2023, (announced >>> 25 July 2023). The Call Option had an initial term of six months, expiring 24 January 2024. This was subsequently extended, pending negotiation of revised terms following introduction of the Special Capital Gains Tax in Zimbabwe. Any material revisions to the terms will be announced in due course.

· Kavango has served notice of exercise to the Sellers, effective 23 April 2024.

· Completion is expected to occur on 15 May 2024.

[paulhopeful] 23/4/2024 08:53

More gold at prospect 2 now, and it’s relatively shallow, Well done team, looks like the induced polarisation surveys is the key to unlock Hillside, bring it on.

[giantpeach2] 23/4/2024 07:44

Hillside Prospect 2 Assay Results

ZIM: 9.95g/t gold intercepted over 7.2m Prospect 2

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce the first assay results from the Hillside Prospect 2 gold project ("Prospect 2") in Matabeleland, southern Zimbabwe.

Highlights

· Hole BRDD001 was a scoping hole sited to target mineralisation below multiple sets of artisanal workings on the northern margin of a broad deformation zone.

· BRDD001 was drilled to a total depth of 400.40 m and intersected an intensely deformed and well mineralised zone, 7.2m wide, hosting gold and associated sulphides in anastomosing shears, at a relatively shallow depth.

· Best results* in the hole include:

- 7.2 m @ 9.95 g/t gold from 50.64 m and including 1.61 m @ 31.57 g/t gold.

- 2.00 m @ 2.12 g/t gold from 86.00 m.

· An Induced Polarisation (IP) survey identified a series of IP (chargeability & resistivity) anomalies interpreted to represent a set of anastomosing shears hosted within a broad deformation zone, approximately 700m wide.

- There are no artisanal workings over interpreted additional shears in the central part of the deformation zone.

- Kavango intends to test the gold-bearing potential of these shears in future exploration by drilling a fence of holes to test for a bulk-minable gold deposit across the entire zone.

· Results are pending for NSDD001 (Prospect 3) located on the southern end of the deformation zone.

[paulhopeful] 22/4/2024 16:03

Agree Spangle93, I was happy with the one high-grade zone from one drill, could imagine what that would do for our existing facility, especially later with an extra stamp mill. If the fence drilling does prove possibly up to five mineralised shear zones in this small area, then perhaps that would be a good indication of what could have been missed elsewhere, as only two have artisanal workings, think we are mostly under the radar for now.

[spangle93] 22/4/2024 14:32

I actually thought it was a good RNS - clearly the world waits for data now, rather than listening to the words alone.

[kdickson] 22/4/2024 11:31

SP Angel . Morning View .

Kavango Resources* (KAV LN) 1.1p, Mkt Cap £13.7m – Geophysics identifies drilling targets at Hillside, Zimbabwe

- Kavango Resources reports that induced-polarisation (IP) geophysics at its Hillside Prospect 4 gold prospect in Zimbabwe has identified up to five potentially mineralised shear zones over 500m of strike length and 700m width.

- The company says that two zones shown in the IP survey “appear to coincide with a series of parallel artisanal workings … [and that] … ”Three additional shear zones have been interpreted under slightly thicker cover and remain undiscovered by the artisanal miners with no indications of historic workings”

- Kavango Resources says that it plans “to drill a fence of six holes to test potential for a bulk-minable gold deposit at Prospect 4”.

- On 15th April, the company announced results of its drillhole SKDD-001 at Hillside Prospect 4 showing an intersection of gold mineralisation including visible gold and 2.53m at an average grade of 29.08g/t gold from a depth of 97.47m.

- In today’s announcement, Chief Executive, Ben Turney, says that the IP survey was conducted after the results of the drilling and that the “high-grade upper intersection in Hole SKDD001 represents a near-term, minable opportunity well within trucking distance of the Hillside stamp mills … [and that] … Kavango Mining is currently developing a work plan to pursue this”.

- Interestingly, however, Mr. Turney also says today that “it is the presence of the smaller, low-grade lower intersection in the same hole that our exploration team is now pursuing. Hole SKDD001 appears to have clipped a second shear zone, as indicated by results from the IP survey … [and the company now plans] … to return to Prospect 4 and drill a fence line of holes to test the IP anomalies and additional parallel artisanal mine workings we have identified. If these prove to be wide gold-bearing shear zones, Prospect 4 could represent an unanticipated bulk-minable opportunity”.”

Conclusion: Kavango Resources’ understanding of the geological nature of its target at Prospect 4 seems to be evolving swiftly as geophysical work is pointing to the possibility of a larger bulk mining opportunity rather than the narrow high grade concept envisaged originally. Considering a range of geological possibilities at this relatively early stage seems a prudent and sensible approach to the evaluation of Prospect 4 and we await results from the new fence of holes with interest.


*An share price Angel Analyst holds shares in Kavango

[jp2011] 22/4/2024 10:26

Sort of. The statements today are based on 3d IP survey which was not available at the time of the drill, this maps out various structures in 3d which KAV are not sharing with the market. There is a single drill hole providing information including 2 small intercepts but also quite a lot of rubbish, the drill helps to define the relationships between gold and resistivity, it allows the geologists to come up with theories about where gold might form.

[paulhopeful] 22/4/2024 08:20

We are confident in the commercial potential of prospect 4. Excellent early result, all from just one hole.

[spangle93] 22/4/2024 08:16

More news from Zimbabwe

[kdickson] 19/4/2024 12:10

SP Angel . Morning View . Copper prices to break $10,000/t as negative Tc/Rcs highlight smelter scramble for material

Kavango Resources* (KAV LN) 1.05p, Mkt Cap £14m – Drill program to test Karakubis project in the Kalahari Copper Belt

- Kavango Resources report the tendering for the first phase of drilling on the Kalahari Copper Belt Karakubis project, Botswana.

- Management plan to drill 5,000m of diamond core on the Karakubis project in western Botswana targeting the shallower Kara Anticline for copper mineralisation.

- Target generation follows the analysis of AEM ‘Airborne Electro Magnetic’ and IP ‘Induced Polarisation’ surveys, and a new interpretation of the former ENRG licences which were not previously drilled.

- The drill program should see 10-15 diamond core holes from May to September with assays due along the way.

- Karakubis hosts three of the domal features which look similar to structures along strike from Sandfire’s Motheo Copper Mine.

- “The D'Kar Formation and Ngwako Pan Formation contact is known to host the majority of copper/silver mineralisation across the Kalahari Copper Belt.”

Kavango are also working towards gold production from the Nara Gold tailings in Zimbabwe.

*The share price Angel Analyst holds shares in Kavango

[paulhopeful] 19/4/2024 08:05

Certainly are moving quickly, with news coming thick and fast now. That’s a serious amount of drilling at the Kalahari Copper Belt, interesting times.

[paulhopeful] 16/4/2024 12:46

So the Nara tailings contain Gold worth around 9 million sterling, with potential upside, could be a good add-on project.

[kdickson] 15/4/2024 12:18

First Equity

High Grade gold drilling results at Hillside.

This morning Kavango Resources plc (KAV.L) reported on high grade gold results from its Hillside project in Zimbabwe at ‘Prospect 4’.

Visible gold was identified from one of the drill core holes (SKDD001), that was sent for immediate testing, which then returned 2.53 metres at 29.08 g/t gold, along with a bonanza style grade of 212.07 g/t gold over a shorter interval for 0.34 metres. Further details and drill hole diagrams can be accessed via the button link below.


FE Comment:

These are impressive high-grade results which raises the likelihood that this prospect could be developed into a relatively near-surface underground high-grade gold mine. It also shows Kavango appears to be on path towards proving up over 1 million ounces of mineable gold and is making progress on its objective to identify large scale bulk mineable gold deposits.

The group is benefiting from an improved business environment in Zimbabwe since the change in regime a few years ago and its early mover advantage in the country. Against the background of gold prices that are trending upwards, which have already risen by around 14% since the start of this year and positive gold exploration and development news-flow being reported, leads us to re-affirm our ‘Buy’ recommendation on the shares.

[paulhopeful] 15/4/2024 11:50

Sinking a shaft to it will be no problem, can see now why Ben is all smiles. 28.35 grams equals 1 ounce.. where’s that shovel!

[kdickson] 15/4/2024 11:44

SP Angel . Morning View .


Kavango Resources* (KAV LN) 1.1p, Mkt Cap £13.4m – Drilling results from the Hillside gold prospect, Zimbabwe


Kavango Resources has reported drilling results from the Hillside 4 gold prospect in Matabeleland, southern Zimbabwe.

The company reports that hole SKDD-001, described as a “scoping hole sited to target mineralisation in a steeply dipping shear zone below artisanal workings” has intersected gold mineralisation, including “visible gold” including 2.53m at an average grade of 29.08g/t gold from a depth of 97.47m

The company says that the hole has “identified three further potential shear zones, parallel to the one being worked by artisanal miners … [and that an] … Induced Polarisation (IP) survey identified three further potential shear zones, parallel to the one being worked by artisanal miners”.

Chief Executive, Ben Turney, described future mining potential at Prospect and said that “We now need to test this potential with swift and methodical follow-up exploration. We are particularly looking forward to testing the additional three shear zones we believe we've identified here”.

Kavango Resources also says that “Results are pending on four other holes drilled across three other Hillside prospects”.

Conclusion: Initial drilling at Hillside Prospect has encountered visible gold and is being followed up to gain an appreciation of the mining potential. We await results from the follow-up exploration and results from holes where assay results are awaited.

An share price Angel Analyst holds shares in Kavango

[paulhopeful] 15/4/2024 09:54

Our current small scale production at Hillside is using grades of less than 1 gram per ton. Already Kavango have found grades up to 212 grams per ton, from 1 drill.. above an ounce over 2.5 metres. plus this targeted area has twin sisters, demonstrates accurate drilling too, excellent start.. well done team.

[citys2874] 15/4/2024 08:32

Great start for KAV and TYM this morning .....nice buying pressure and great assay results

[jp2011] 15/4/2024 08:15

In terms of target area, it was the 4th ranked target at Hillside so think most investors will take it as a win.

[3ootuk] 15/4/2024 07:13

Mostly low grade apart from that highly rich thin vein?

[paulhopeful] 13/4/2024 15:53

jp2011: hi there, so 10p to 15p implies a market cap of around 131/196 million. Do you think that’s a fair approximate assumption of where things could go, if the company was lucky enough to hit its target at Nara ? Know ( if ) means nothing yet, thanks for any advice on how valuations are calculated, something I’m not good at, interested in how you come up with those figures.

[palace pete] 12/4/2024 16:14

Sandfire only 9p where do your calls come from?

[apotheki] 12/4/2024 12:15

First Equity

Nara Gold Project Magnetic Survey Completed

Kavango Resources plc (KAV.L) announced this morning it has completed a ground magnetics survey over its Nara Gold project in Zimbabwe. From this work, a 200-metre-wide interpreted shear corridor along a 5km strike has been defined and a number of additional exploration targets identified. Such shear zones are typically associated with large-scale bulk mineable gold deposits. The management also explained why it has been confident enough to upgrade its goal to find 2 million ounces of gold at Nara.

The RNS outlined some of the potential near term news events from its gold exploration projects in Zimbabwe, such as the multi-element test results later this quarter from 1,400 metres of drilling at Hillside and an update and results from first phase drilling at Nara. The full RNS can be accessed via the button link below.


FE Comment: Kavango seems to be making swift progress on its gold exploration and mining projects in Zimbabwe, where it has only been operational for the last 10 months. This has included the definition of a maiden gold resource and commencement of first gold production at Hillside as revealed last month.

The share price has been moving slowly higher in the past two or three weeks from near its all-time lows and is now breaking above 1.00p. This is the price at which Kavango secured £6m in a placing last year to finance its Botswana and Zimbabwe operations. Considering the improving fundamentals, recent new gold generated cash flow operations, sound balance sheet and prospect of near-term exploration and development news flow in the coming months, we continue to recommend the shares as a ‘Buy’ and believe the Company should warrant a much higher valuation than its current £13.7m market cap.