Kavango Resources PLC Kalahari Suture Zone (KSZ) - drilling update (1921M)

TIDMKAV

RNS Number : 1921M

Kavango Resources PLC

17 September 2021

PRESS RELEASE

17 September 2021

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

KALAHARI SUTURE ZONE ("KSZ") - drilling update

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that the Company has requested Mindea Exploration and Drilling Services (Pty) to extend Hole TA2DD002 to 1,000m depth, which is the technical limit of the drill rig on site within acceptable safety margins, to assist in further developing and refining the Company's model of the KSZ.

At end of shift at 0500 today, 17 September, Hole TA2DD002 was at 821m. So far the Company has encountered 170m of continuous Proterozoic mafic/ultramafic rocks. Kavango's senior field geologists have continued to make visual inspection of the core and have reported visible alteration and interstitial blebs of chalcopyrite in different sections of the hole. The lithologies range from coarse grained to extremely pegmatitic, the latter logged in zones that extend 20-30m in thickness.

The Company advises shareholders that thorough analysis is required of all core samples retrieved from the Proterozoic Complex in Hole TA2DD002, before any conclusions can be drawn as to what has been encountered so far. This analysis will include (but not necessarily be limited to) assay testing and whole rock analysis.

The Company will make further updates as necessary.

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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.

For additional information please contact:

Kavango Resources plc

Ben Turney

[e-mail]

[phone]

First Equity (Joint Broker)

[phone]

Jason Robertson

SI Capital Limited (Joint Broker)

[phone]

Nick Emerson

Kavango Competent Person Statement

The information in this press release that relates to "geological and/or geophysical results" for the KSZ Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc.

Note to Editors:

THE KALAHARI SUTURE ZONE

Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km(2) of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.

The area covered by Kavango's KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey's Bay (Canada).

The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia's nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango's licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.

KSZ DEFINITIONS

Chalcopyrite: A copper rich sulphide mineral (CuFeS(2) ), widely occurring in magmatic sulphide ore bodies.

Pegmatitic: Pegmatites are very coarse grained igneous rocks having grain sizes in excess of 3cm, Pegmatites are thought to form as a result of very slow crystallisation and may contain exotic minerals from a volatile-rich melt.

Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.

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September 17, 2021 09:14 ET (13:14 GMT)