Kavango Resources Share Discussion Threads

[pangrati] 17/6/2025 11:30:36

Kavango Resources* (KAV LN) 0.94p, Mkt Cap £29m – Assays from Steenbok (Prospect 4) at the Hillside Gold project in Zimbabwe

Kavango Resources report High-grade assays from Steenbock, Prospect 4 at the Hillside Gold project in Zimbabwe

Kavango has drilled another 3,232m at the prospect on the back of previous high-grade mineralisation seen in drill hole SKDD001 reported in April 2024 of 2.53m @ 29.08g/t.

7 out of 8 holes intersected gold mineralisation.

41 intersections carried >1g/t gold with 69 gold intersections at >0.7g/t gold.

Drilling targeted 400m of strike out of a potential strike length of up to 1.5km at Prospect 4.

Best holes reported:

SKDD002:

1.5m @ 5.41g/t from 76m inc. 0.8m @ 7.25g/t Au from 76.7m,
2m @ 6.36g/t Au from 81m,
1.25m @ 7.72g/t Au from 122.16m (including 0.4m @ 19.29g/t Au).

SKDD002B:

1m @ 9.28g/t Au from 9m,
1m @ 3.19g/t Au from 88m,
1.7m @ 2.44g/t from 165.3m,
1m @ 2.94g/t Au from 268m.

SKDD004:

2m @ 1.37g/t Au from 359m.

SKDD006:

1.92m @ 6.21g/t Au from 138.83m (including 0.5m @ 17.78g/t),
5.75m @ 3.42 g/t from 143.7m (including 1m @ 13.29g/t Au),
1m @ 2.49g/t Au from 243.4m.

SKDD007:

3m @ 3.03g/t from 91m (including 1m @ 7.78g/t Au),
1m @ 6.3g/t Au from 272.5m

Mineralisation is structurally controlled by a related network of shear zones which appear to have acted as feeders and traps for hydrothermal alteration and related gold mineralisation.

Renaming of Prospects

Kavango has reverted to historic names of its first four gold prospects at the Hillside Project

Prospect 1 = Bill's Luck

Prospect 2 = Britain

Prospect 3 = Nightshift

Prospect 4 = Steenbok

The historic mine names are used locally by Kavangos’ field teams

Conclusion: We are encouraged by the gold grades and intersections from the first eight holes of drilling at Steenbok, Prospect 4 in Zimbabwe and we look forward to the results of some basic resource estimation.

The team are now working on a plan to test for mineralisation along the rest of the 1.5km strike.

The team will continue to gather more data on the gold mineralised system to build on the current drilling and structural model.

“Further updates on the Hillside Project, including additional assay results and drilling progress, will follow shortly.”

*Two share price Angel Analysts recently visited Kavango’s Hillside mines and licenses in Zimbabwe. An share price Angel analyst holds shares in Kavango

[pangrati] 02/5/2025 11:30:38

First Equity Comment - Kavango Resources Prospect - 3 Results

Kavango Resources plc (KAV.L)* 2 May 2025
Price: 0.80p
MCp: £24m
Tck: KAV.L
List: LSE SL
Metals: Gold, Copper, PGM's, Nickel
Areas: Zimbabwe & Botswana
Recommendation: BUY

Kavango Resources plc (KAV.L) this morning announced assay results from Prospect 3 at its Hillside Gold Project in Zimbabwe.

Drilling intercept results returned higher than expected gold grades within 6 defined mineralised shear zones which appear to increase in grade at depth. The highest-grade intercept reported being 18.11 g/t over 0.9 metres. The management believe Prospect 3 has potential for near term, shallow open-pit mining of certain mineralised zones, along with a move then to underground mechanised mining.

A follow up drill programme is planned to test further gold mineralisation at depth and along strike at Prospect-3. Kavango believes it has enough geological information and favourable assay results to commence resource definition. Further details on today’s RNS, including full drill results and technical data can be accessed via the button link below.

First Equity Comment - Kavango continues to make firm progress across is extensive prospective gold projects in Zimbabwe, as today’s news illustrates. We are also very encouraged by the local investment support recently announced (25 April RNS) of US$5m by a consortium of Zimbabwe registered pension funds via a convertible loan note facility.

We believe the shares could be on the brink of a strong and sustained rally, given high prevailing global gold prices, impact of near-term gold related development news-flow, existing & growing gold production revenues and tightly held shares with a free float of around 20%, with the remainder of shares held by a cornerstone long-term investor and directors. To this end we continue to recommend Kavango as a ‘Buy’.

[pangrati] 02/5/2025 11:10:16

SP Angel . Morning View .

Kavango Resources* (KAV LN) 0.84p, Mkt Cap £26m – Resource definition drilling highlights widespread gold mineralisation in shear zones

· Zimbabwe gold producer/explorer Kavango Resources reports assay results from Prospect 3 at the wider Hillside Project.
· Kavango sees the Prospect 3 target as holding potential for open-pit mining of selected mineralised zones, then progressing to an underground operation.
· Kavango has completed 34 holes at the Prospect within a 100m x 150m grid, to a depth of 60-105m for a total of 2,109m.
· Drilling was spaced 25m x 25m between collars.
· Kavango notes that drilling has identified six mineralised gold bearing shear zones, with mineralisation in two primary areas: ‘hard and competent’ m-thick shear zones hosted in diorite-granodiorite, and secondly along the contact zone between the metasedimentary rocks to the south and diorite-granodiorite to the north (lower-grade, narrower and more finely disseminated).
· Drilling intersected 65 ‘significant gold intersections’ grading 1g/t Au, with highlights including:
o NSDDIR012: 8.3m at 1.1g/t Au from 58m
o NSDDIR015: 0.6m at 7.8g/t Au from 52m and 0.9m at 5.6g/t Au from 57m
o NSDDIR016: 2m at 1.45g/t Au from 58m (hole ended in mineralisation)
o NSDDIR018: 1.7m at 7.1g/t from 29m and 3.2m at 2.2g/t Au from 43m
o NSDDIR025: 7.8m at 1.35g/t Au from 29m.
· Kavango used a 0.7g/t cut-off grade.
· Kavango now plans to conduct a new diamond drilling programme over 2,750m to test grade continuity and structure along strike and at depth.
· Kavango is waiting for the completion of metallurgical test work and has begun structural surveys have also begun at Hillside.
· Management also highlights the potential for a potential spiral decline and sub-level long hole open stoping at Prospect 3, should mineralisation continue at depth.

Conclusion: Kavango has now completed its comprehensive shallow drilling programme at Prospect 3, as it works towards delivering a maiden resource for the Project. Today’s assay results have presented Kavango with a 150m wide, 650m long target area hosting a known six mineralised shear zones. Management highlights the target remains open along strike in both directions, and at depth, with further drilling now being conducted to test the extent of the mineralisation.

*Two share price Angel Analysts recently visited Kavango’s Hillside mines and licenses in Zimbabwe. An share price Angel analyst holds shares in Kavango

[pangrati] 02/5/2025 09:10:24

Ben Turney, Chief Executive of Kavango Resources, commented:

"We are delighted with the drill results at Prospect 3. The higher-than-expected gold grades, in 6 defined mineralised shear zones, present Kavango with a much bigger opportunity than was originally envisaged.

Drill results from the 34 shallow diamond holes support the presence of a robust and potentially economic mineralised system at Prospect 3. The correlation of high-grade intercepts with mapped artisanal workings, combined with structural continuity across multiple zones, raise the possibility for selective, near-term open pit mining followed by underground mechanised mining.

Prospect 3 has been mined by artisanal miners over the last 20 years. This has proven to be a strong exploration lead for our team. The artisanal miners appear only to have mined up to a depth of 25m from surface. The higher-grade, gold mineralised underlying hard rock is relatively untouched.

The drill results from the recently completed program show that the near-surface structures the artisanal miners have mined appear to both continue at depth and increase in grade within the deeper fresh hard rock granodiorite. This is encouraging for Kavango because it suggests that the target area is at least 150m wide and greater than 650m long, and remains open along strike in both directions, and open at depth.

Our planned next phase of drilling will further test the strike and depth extent of this mineralised system. If results confirm and potentially extend the footprint and grades of Prospect 3, then Kavango will have made a significant gold discovery."

[pangrati] 02/5/2025 09:00:29

Kavango's Operations in Zimbabwe

Kavango is exploring for gold deposits in Zimbabwe that have the potential to be developed into commercial scale production quickly through modern mechanised mining and processing. The Company is targeting both open-pit and underground opportunities.

Kavango has two projects on the Filabusi greenstone belt, Hillside and Nara.

Kavango exercised its option to acquire Hillside in April 2024. Here, the Company has two high priority targets it aims to bring into production over the next 18 months: Prospect 3 and Prospect 4. At Prospect 3, Kavango is investigating the potential for a selective open-pit mining operation, followed by underground mechanised mining. Meanwhile, at Prospect 4 Kavango is pursuing a high-grade mechanised underground mining opportunity.

In parallel to this, Kavango holds an option to acquire the Nara Project that has an exercise date towards the end of June 2025. Here, the Company is exploring for a large-scale, mechanisable underground deposit. The primary target zone is around the historic N1 mine, where the Company is assessing the potential to expand artisanal workings both at depth and along strike.

Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV

[pangrati] 02/5/2025 08:58:57

ZIM: Prospect 3 Positive Assay Results

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration and gold production company, is pleased to report encouraging assay results from its recently completed preliminary resource drilling at Prospect 3 ("Prospect 3") on the Hillside Gold Project ("Hillside") in Matabeleland, southern Zimbabwe.

Drilling intercepted higher than expected gold grades, within 6 defined mineralised shear zones that appear to increase in grade at depth. These results suggest Prospect 3 has the potential for near-term, shallow open-pit mining of selected mineralised zones, followed by a progression to underground mechanised mining.

The shallow drilling programme successfully provided Kavango with sufficient geological information and positive assay results to begin its first direct resource definition. The Company is also finalising details for a follow-up drill programme to further test gold mineralisation open at depth and along strike at Prospect 3, with an announcement to follow in due course.

Highlights

· 6 mineralised gold bearing shear zones confirmed across 34 shallow diamond drill holes at Prospect 3.

o Each hole was drilled to a depth between 60m and 105m, for a total of 2,109.16m, covering a 100m x 150m grid, with a 25m x 25m spacing between hole collars:

o The drill defined gold bearing shear zones lie within a larger block that corresponds with mapped areas of artisanal workings, suggesting Prospect 3 covers an area of at least 650m x 150m that is open at strike in both directions.

o Shallow, higher-grade gold intercepts extend to and are open at depth in the 6 mineralised shear zones.

o Assay results and core logging show that the most consistent higher-grade and wider, discrete mineralised shear zones are concentrated within the granodiorite.

· 65 significant gold intersections, grading at >1g/t Au, transected across the 6 confirmed mineralised shear zones. Highlights include:

o 0.90m @ 18.11g/t Au from surface in Hole NSDDIR009

o 8.32m @ 1.07g/t Au from 57.5m in Hole NSDDIR012

o 0.60m @ 7.82g/t Au from 52.40m and 0.87m @ 5.58g/t Au from 56.83m in Hole NSDDIR015

o 1.98m @ 1.45g/t Au from 58.34m, in hole NSDDIR016 that ended in mineralisation

o 1.70m @ 7.10g/t Au from 29.00m and 3.18m @ 2.23g/t Au from 43.00m in Hole NSDDIR018

o 7.79m @ 1.35g/t Au from 29.11m in Hole NSDDIR025:

· Results suggest Prospect 3 is similar in structure to gold ore bodies in Western Australia that are mined using modern mechanised methods through spiral decline mining (explanation given below).

o To confirm the potential for underground mechanised mining at Prospect 3, Kavango has designed a new diamond drilling program (2,750m) to test grade continuity and structure along strike and to depths of ~200m.

o In addition, third-party consultants have commenced extensive structural surveys at Hillside, comprising of field mapping and detailed analysis of orientated diamond drill cores.

[pangrati] 28/4/2025 09:25:42

Annual Report & Accounts

Kavango Resources plc (LSE: KAV) announces that the Annual Report and Accounts for the year ended 31 December 2024 is now available to download from the Company's website:

hxxps://www.kavangoresources.com/

In accordance with DTR 6.3.5(1A), the unedited full text of the regulated information required to be made public under DTR 4.1 is contained within the 2024 Annual Report and Accounts which has been uploaded to the National Storage Mechanism and is available for inspection at:

hxxps://data.fca.org.uk/#/nsm/nationalstoragemechanism

Further information in respect of Kavango and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV.

[pangrati] 22/4/2025 11:00:50

SP Angel . Morning View . Gold hits $3,501/oz as Trump shakes markets and Chinese pension funds buy gold

Kavango Resources* (KAV LN) 0.78p, Mkt Cap £24m – Local investor support for Hillside project, Zimbabwe

Kavango Resources has secured US$5m in the form of a convertible loan note from a “consortium of Zimbabwe registered pension funds”.

The note, which “is interest free can be drawn down in three tranches by Kavango and is convertible into new ordinary shares in Kavango at a conversion price of the USD equivalent of 1p per share”.

The initial, US$0.5m tranche can be “drawn down immediately for mine development in Zimbabwe”;

Drawdown of the second US$1.5m tranche occurs “over the next 12 months for the import of mining equipment for Kavango into Zimbabwe” and The final US$3m can be “drawn down over the next 12 months for mine development in Zimbabwe”.

Chief Executive, Ben Turney, explained that the local pension fund support was an important element of the company’s “strategy in Zimbabwe …to promote local shareholder ownership”.

He confirmed that the funds would be used for “mine development and construction of our first gold processing plant. Kavango currently aims to bring Prospects 1, 3 and 4 at the Hillside Project into production over the next 12 months, using modern mechanised mining”.

The pension fund investor, the Comarton Managed Pension Funds Investments Consortium is described as “an influential group of individual pension funds in Zimbabwe that collaborates on investments. Twenty-eight consortium members have the mandate to invest in equities and have indicated their intention to participate in the Kavango investment facility”.

Conclusion: Local investors are supporting Kavango’s Hillside gold development in Zimbabwe with a staged investment of US$5m via a convertible loan-note.

*Two share price Angel Analysts recently visited Kavango’s Hillside mines and licenses in Zimbabwe. An share price Angel analyst holds shares in Kavango

[danmart2] 19/3/2025 13:42:15

It’s 2025 and Ben Turney is still getting a wage out of Kavango

Somethings never change, including Kavangos inability to ever produce shareholder value

[pangrati] 19/3/2025 12:05:11

SP Angel . Morning View . Gold prices poised to break through $3,000/oz again as focus remains on US growth slowdown

Kavango Resources* (KAV LN) 0.80p, Mkt Cap £12m – Additional mineralisation identified beneath historic workings at Prospect 1 in Zimbabwe

Kavango Resources has identified new gold bearing reefs during underground rehabilitation work at its Prospect 1 site at the Hillside project near Bulawayo.

The company says that it “intersected a reef, hosting quartz and sulphide bearing veins, in a previously inaccessible level of the historic Main Shaft at Prospect 1 during shaft restoration”.

“Recent mapping and sampling of the reef on existing development levels together with the discovery of further mineralisation while rehabilitating the old Main Shaft and West Shaft indicates previously unknown potential for both lateral and vertical continuity”.

Kavango Resources clarifies that “recent channel sampling on Level 2 and Level 3 at Main Shaft indicates grades are increasing with depth … [and that] … removal of historic waste material from the first two levels of the Main Shaft during the restoration work, revealed a deeper, third level. The nature, location and type of waste suggests it was dumped on purpose and Kavango believes this level was blocked by a previous owner to protect the underlying ore body from illegal mining and preserve it for future development”.

The company confirms that it “now plans to test the extent of the reefs through a combination of surface and underground drilling”. This work includes “an infill drilling programme between West Shaft and Pump Shaft (Figure 5) to confirm reef continuity, grade distribution along the reef structures and test inferred plunging ore shoot geometry”.

Chief Executive, Ben Turney, said that the “new reefs identified add to the growing number of opportunities for near-term, significant gold production at Hillside … [and commented]… it appears a previous owner of Hillside's efforts to protect the future mining potential at Prospect 1 hid the true potential of the historic mine and with it the opportunity for much greater gold production”.

Mr. Turney said that “We look forward to bringing the drill rig back to Prospect 1 as soon as we can. The new reefs are open on strike, with grades appearing to increase with depth. After establishing the reefs' extent, we hope to move into defining a resource we can bring into production as quickly as possible”.

Conclusion: The identification of additional mineralisation at depth beneath Prospect 1 at Hillside elevates its potential scale. We look forward to further results as the company brings back rigs to clarify the depth and lateral extent of mineralisation and develop a mineral resource estimate.

*Two share price Angel Analysts recently visited Kavango’s Hillside mines and licenses in Zimbabwe. An share price Angel analyst holds shares in Kavango

[pangrati] 19/3/2025 12:00:34

First Equity Comment

Significant increase in underground potential at Hillside Prospect 1

Kavango Resources plc (KAV.L) today announce in a detailed RNS the increased potential for underground mining at Prospect 1 on its Hillside gold project in Zimbabwe, which could be a third area of near-term gold production at Hillside, along with Prospects 3 and 4. A link to the announcement can be found on the button link below, which we would encourage you to read to gain an understanding of this prospects potential and wider gold mining opportunities across Hillside.

Against the background of continuing upward trending gold prices at near to $3,000 per ounce and given the potential of a high grade near-term gold mining operation at Hillside, with Prospect 1 for example previously being mined at an average grade of 7.7 g/t, according to historic records to 1950 and a very healthy plc balance sheet from recent large fundings, the shares are unusually trading near to one year and multiple year lows. To this end we continue to recommend Kavango Resources as a 'Buy'.

[hjfe] 17/3/2025 08:07:54

It this morning's RNS doesn't get KAV moving then nothing will. Sounds positive to me, although it could all be guff.

[pangrati] 03/3/2025 11:40:28

SP Angel . Gold edges higher after worst week in three months on dollar rebound

Kavango Resources* (KAV LN) 0.78p, Mkt Cap £12m – Appointment of Alex Gorman, Peel Hunt, Mining Analyst as COO of Kavango in June

Kavango Resources reports that non-executive director, Alex Gorman will assume the role of Chief Operating Officer in early June.

Alex, who will “move to Bulawayo, Zimbabwe where she will be better able to manage the group's operations” is a geologist by profession with insight into the geology of the Kalahari Copper Belt via Master’s degree studies.

Alex Gorman is currently a Mining Analyst at Peel Hunt, covering small and mid-cap mining companies listed in London.

Formerly, Alex worked in BMO's commodities team, and in various analytical, business improvement and consulting roles at Wood Mackenzie”.

Chairman, David Smith, welcomed the appointment and expressed confidence that “her combination of a technical geological background, familiarity with our projects in Botswana and Zimbabwe, and her knowledge of the mining industry generally, will be a real benefit to the Company”.

Conclusion: We had the opportunity to visit the Hillside mines and licenses with Alex in February and feel she will make a positive and meaningful addition to the Kavango team. Alex has formerly worked with Dave Catterall who is consultant geologist to Kavango. We see Alex and Dave’s work as critical to optimising the move to larger-scale mining on the Hillside mining licenses.

*Two share price Angel Analysts recently visited Kavango’s Hillside mines and licenses in Zimbabwe. An share price Angel analyst holds shares in Kavango

[pangrati] 29/1/2025 10:25:11

Kavango Resources* (KAV LN) 0.82p, Mkt Cap £25m – Conversion of 538m shares into equity as prospectus is published

Kavango report the conversion of loan notes into 547,995,076 new shares upon publication of their latest prospectus yesterday.

The strategic financing of Kavango was announced on 19 December which reported the raising of £6,566,200.

Zimbabwe gold: Kavango is exploring and developing gold production from Prospects 3 and 4 at its Hillside Gold Project in Zimbabwe near Bulawayo.

The team have hired a mining engineer, who has experience in lode gold systems and modern mining practices.

Metallurgical work is ongoing to compliment the manufacture of a gold process plant in South Africa.

Zimbabwe hosts 22 Archean greenstone belts which are considered to be similar to that seen in Australia.

The company hold 100% of 440Ha at Hillside and run

Prospect 1: reopened two shafts with small scale mining. The team are preparing to install a small CIP VAT leach process plant at the site.

Prospect3: potential for an open pit operation with throughput at 30,000tpm grading around 1.2g/t and potential for ~70% recovery rates

Capex is ~$3m. Gold in granitic material is thought to run at 1.98g/t with metallurgical testing giving 92% recoveries.

Resource: the short-term resource target is modest but the prospect shows significant upside potential

A number of parallel reefs have been identified with drilling being done to extend the known resource

Prospect 4: Drilling is being done to test underground potential with five x 500m holes. Artisanal mining at the site across 200x600m area.

Potential for a 200tpd CIL process plant with potential for expansion.

Drilling to be done from underground with a decline to be driven to 90m depth.

Botswana exploration: Kavango plans to complete the next phase of geophysics shortly to guide us on the next phase of drilling, which we are planning for Q1 2025.

Rio Tinto and BHP are both working on ground close to Kavango licenses in Botswana.

Number of shares: Kavango now have 3,048,706,821 shares following conversion of the convertible loan notes.

Conclusion: Kavango is preparing to forge ahead with growing gold production in Zimbabwe while continuing to work on its exploration portfolio in Botswana.

*An share price Angel Analyst holds shares in Kavango

[jp2011] 20/12/2024 07:43:02

Sneaky RNS yesterday after markets closed raising extra £1.5m & converting over £2.2m CLN into equity, all this on top of £6.5m new equity announced 11 hours earlier.What next, reducing the price of the Founder Options?

[pangrati] 19/12/2024 11:00:18

SP Angel . Morning View . Gold recovers after FOMC volatility as hawkish Powell cautions over sticky inflation

Kavango Resources* (KAV LN) 0.70p, Mkt Cap £18m – Placing raises £6.57m for gold mine development in Zimbabwe and further exploration drilling in Botswana

Kavango Resources report the raising of £6.566m via the placing of 938m new shares at 0.7p/s.

The placing is subject to the approval of a prospectus by the FCA.

Use of funds: Funds from the financing will be directed towards gold mine development at Hillside in Zimbabwe and towards exploration in Zimbabwe and Botswana as well as G&A.

Hillside gold project (Zimbabwe): plans at Prospects 3 and 4 where management hope exploration will justify the development of the projects and start mining by end-2025.

Management: Kavango have recruited a new mining engineer with experience in lode gold systems and will oversee the board’s strategy to move to mine development.

Metallurgical test work at Hillside: gold process plant manufacturer to conduct initial metallurgical test work on ore samples taken from the project areas.

The team recently reported multi-element assay results on core samples from Prospect 3 at Hillside which showed “potentially economic concentrations of tungsten and other strategic elements, including bismuth, selenium and molybdenum”.

Prospect 3 intersections reported in November show:

1m @ 1.13g/t gold from a depth of 14m,
2m @ 1.21g/t gold from a depth of 6m,
1m @ 2.08g/t gold at 28m depth

Botswana exploration: recent drilling gathered valuable data. This combined with the next phase of geophysics will guide the next phase of drilling in Q1 2025.

Conclusion: Kavango Resources will be assaying for a broader range of elements in its exploration at the Hillside and Nara projects to better understand the potential for economic by-products.

*An share price Angel Analyst holds shares in Kavango

[palace pete] 11/12/2024 09:48:04

Been in this year's not sure I'll get much joy from it mostly gnored now.

[apotheki] 25/11/2024 11:40:39

SP Angel . Morning View .

Kavango Resources* (KAV LN) 0.75p, Mkt Cap £12m – Drilling underway at Prospect 3 in Zimbabwe

Kavango Resources reports that it has started drilling at its Prospect 3 in the Hillside gold project located in Matabeleland, southern Zimbabwe.

The drilling aims to “delineate a mineral resource to form the basis for an open pit mine, and to obtain sufficient sample to conduct metallurgical test work”.

Systematic drilling will comprise a “grid of 90m deep diamond core holes over the target area, on a 25m x 50m spacing with the goal of defining an initial resource containing at least 20,000oz of gold at > 0.5 g/t”.

“Samples from this program will be combined with bulk samples from artisanal pits to complete heap leach metallurgical test work. Metallurgical testing will seek to determine the metallurgical recovery of the gold contained in the mineralised material and guide the design of the heap leach … [and] … Selected core samples will also be used for geotechnical testing to aid in the open pit mine design”.

Prospect 3 is described as Kavango Resources’ “priority project in Zimbabwe … [with] … the highest potential to commence commercial production in the shortest amount of time, and with the lowest capital entry”.

“Artisanal miners are currently producing gold from 12 surface workings with at least 2 different vein orientations, from oxidized meta-sediments above a granodiorite intrusive next to … [drillhole] … NSDD0002”

Shallow mineralised intersections from the 3 exploration holes drilled to date at Prospect 3 include:

A 1m wide intersection grading 1.13g/t gold from a depth of 14m in hole NSDD-001; and

A 2m wide intersection at an average grade of 1.21g/t gold from a depth of 6m in hole NSDD-002 which also intersected 1m grading 1.77g/t gold at 13m and 8.2m averaging 3.08g/t from 66.9m; and

A single metre grading 2.08g/t gold at 28m depth in hole NSDD-003.

The announcement describes these intersections as “close enough to surface to represent a possible open-pit gold deposit”.

Explaining that “artisanal workings have focussed on higher-grade material, but to a limited and shallow extent … [Chief Executive, Ben Turney, said that the] … high level of artisanal workings across Prospect 3 is strongly indicative of the area's potential for larger scale, near surface gold deposits that Kavango can mine”.

Conclusion: Kavango Resources is drilling to delineate a resource at Prospect 3 where it hopes to establish a shallow resource amenable to open-pit mining in an area of existing artisanal mining activity. We await the results with interest.

*An share price Angel Analyst holds shares in Kavango

[apotheki] 25/11/2024 11:37:19

FE Comment - Kavango Resource Drilling Starts - 'Buy' Rec

Resource Drilling Commences

Kavango Resources (KAV.L) this morning announced that it had started resource drilling on its Prospect 3 target on the Hillside Gold Project in Zimbabwe. The plan is to define a mineral resource that would form the basis of an open pit mine and then to gather enough sample data to perform metallurgical test work. The management have identified ‘Prospect 3’ as holding the best potential to start “commercial production in the shortest amount of time, with the lowest capital entry”.

FE Comment: - We continue to rate Kavango Resources as a ‘Buy’, as outlined in our research note from 8 March 24, for the manifold of near-term gold revenue opportunities in Zimbabwe and high-impact copper exploration potential in Botswana. The shares are trading at 0.75p, representing a discount of over 50% to the 12-months highs of 1.60p reached during the summer months, despite the background of a favourable gold price that continues to trend upwards.

[jp2011] 25/11/2024 08:17:24

Total absolute p1ss take, 20,000oz target, so what, not world class. KAV is worth 0.2p not the current 0.775p

[spangle93] 25/11/2024 08:03:18

... by which time we'll have issued a load more shares at a discount price

[apotheki] 25/11/2024 07:40:54

Ben Turney, Chief Executive of Kavango Resources, commented:

"The high level of artisanal workings across Prospect 3 is strongly indicative of the area's potential for larger scale, near surface gold deposits that Kavango can mine.

The artisanal workings have focussed on higher-grade material, but to a limited and shallow extent. Our exploration team has identified much more extensive potential, which we will now test with a focussed drill campaign to develop a maiden mineral resource here.

Assuming this drill campaign is successful, we expect to move to a pre-mining, grade control drill campaign and metallurgical test work.

[danmart2] 23/11/2024 06:29:11

SP Angel trying really hard to ramp this junk share

They are making a gang of locals with spades and an old digger transporting mixed soils 20km (total insanity in Zim and hard to believe) to a tiny processing plant (that won’t be working 24/7 despite share price angels massive rampy assumption) seem an attractive investment opportunity

If you want to lose money, invest here