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19/9/202121:29Kavango Resources exploring for another NORILSK under the Kalahari Desert3,651
29/8/202118:07Kavango Pumped 9
10/11/202007:06Kavango Resources News and Research Thread151

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DateSubject
19/9/2021
09:20
Kavango Resources Daily Update: Kavango Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker KAV. The last closing price for Kavango Resources was 4.80p.
Kavango Resources Plc has a 4 week average price of 3.60p and a 12 week average price of 3.60p.
The 1 year high share price is 6.40p while the 1 year low share price is currently 2.40p.
There are currently 404,181,686 shares in issue and the average daily traded volume is 2,930,722 shares. The market capitalisation of Kavango Resources Plc is £21,421,629.36.
09/9/2021
02:25
kq1: 1. Comparative valuation for KAV Ben has stated on several occasions that KAV is an explorer and developer, not a miner, and let slip that he has been in discussions with a number of mining majors. Presumably the strategy is either to farm-in an operator, or else sell projects outright. This raises the question as to what KAV could be worth in the future. Without a PFS, JORC resource, or even a discovery, this could be viewed as a pointless exercise, and I am a little cynical about claims on this and other boards that this could be a 10, 20 or even 100-bagger – all based on zero data except hope. However, I have been sorting through a large number of junior E&P outfits to see if there are any worthwhile comparators. A couple of months back, there was a presentation by Australian-listed Chalice Mining (ASX:CHN) at the Noosa Mining & Investor conference, conveniently close to my base. I'm having problems linking to it, so I suggest you check this out by googling “Chalice Noosa presentation”. The similarities between CHN & KAV are fascinating. A quick summary of Chalice: CuNiPGE Julimar project on the W. margin of a craton (Yilgarn Craton, W. Australia) One confirmed conductor, at one end of a potential 26km mineralised corridor Applications made for several thousand km2 nearby licences Two additional projects at earllier stage (one CuNi, one Au) Methodical use of sophisticated geophysics & geochem Experienced, grizzly geologists + young, enthusiastic & communicative CEO Sounds familiar? Just before discovery, about 18 months ago, CHN had a market cap of less than 100M GBP equivalent. After discovery, and the drilling of around 150 holes to help define a resource (likely to be revealed in Q4 this year) the market cap is 1.25 Bn GBP equivalent. Even more interesting, it would appear from the presentation that the conductor that has been drilled, which is the only one yet definitively discovered, is smaller than any of the three that KAV has currently found at the KSZ. I estimate that CHN is currently a year ahead of KAV, but I suspect that KAV has the more interesting projects - we will have to wait a few months for details of KAV mineralisation, although I strongly suspect KAV will have the higher Ni & Cu assays in the KSZ, based on the comparative geology. To be clear, I do not have a shareholding in CHN, nor any links to the company, and make no recommendation. On the other hand, I have accumulated a substantial (for me) investment in KAV, for the reasons outlined above.
19/7/2021
13:48
skiboy10: Copied from lse KeithOz Price: 5.45 No Opinion How much could KAV be worth? - a comparative view pt 1Today 08:20 Hello fellow Kavangoists. Since this is my first post on this board, although I have been lurking here for months, a little about me: I am an Australian-based retired geologist who has worked at director level in business development roles for large multinationals. I first invested in KAV about a year ago, and have been topping up every time the company has derisked a project. For me KAV has multiple attractions – potentially huge scale deposits, a highly experienced management team who have been diligently applying sophisticated evaluation methods, great investor communications, and obvious deal-making ability, coupled with what I feel to be a low valuation. Ben has stated on several occasions that KAV is an explorer and developer, not a miner, and let slip that he has been in discussions with a number of mining majors. Presumably the strategy is either to farm-in an operator, or else sell projects outright. This raises the question as to what KAV could be worth in the future. Without a PFS, JORC resource, or even a discovery, this could be viewed as a pointless exercise, and I am a little cynical about claims on this and other boards that this could be a 10, 20 or even 100-bagger – all based on zero data except hope. However, I have been sorting through a large number of junior E&P outfits to see if there are any worthwhile comparators. Over the weekend, there was a presentation by Australian-listed Chalice Mining (ASX:CHN) at the Noosa Mining & Investor conference, conveniently close to my base. I'm having problems linking to it, so I suggest you check this out by googling “Chalice Noosa presentation”. The similarities between CHN & KAV are fascinating. A quick summary of Chalice: CuNiPGE Julimar project on the W. margin of a craton (Yilgarn Craton, W. Australia) One confirmed conductor, at one end of a potential 26km mineralised corridor Applications made for several thousand km2 nearby licences Two additional projects at earllier stage (one CuNi, one Au) Methodical use of sophisticated geophysics & geochem Experienced, grizzly geologists + young, enthusiastic & communicative CEO Sounds familiar? See Pt 2. Pt. 2. Just before discovery, about 18 months ago, CHN had a market cap of less than 100M GBP equivalent. After discovery, and the drilling of around 150 holes to help define a resource (likely to be revealed in Q4 this year) the market cap is 1.25 Bn GBP equivalent. Even more interesting, it would appear from the presentation that the conductor that has been drilled, which is the only one yet definitively discovered, is smaller than any of the three that KAV has currently found at the KSZ. I estimate that CHN is currently a year ahead of KAV, but I suspect that KAV has the more interesting projects - we will have to wait a few months for details of KAV mineralisation, although I strongly suspect KAV will have the higher Ni & Cu assays in the KSZ, based on the comparative geology. To be clear, I do not have a shareholding in CHN, nor any links to the company, and make no recommendation. On the other hand, I have accumulated a substantial (for me) investment in KAV, for the reasons outlined above. Anyone else have some thoughts on this? Any other comparative companies that someone would like to mention? Thanks for reading a rather long post :-)
05/7/2021
16:16
skiboy10: https://miningmaven.com/company-news/63-kavango-resources/1177-kavango-raises-2-million-as-ambitious-ksz-drill-programme-expands-kav MiningMaven on: 05 July 2021 Kavango raises £2 million as ambitious KSZ drill programme expands (KAV) Kavango Resources (LON: KAV) on Monday announced not only an expansion of its Kalahari Suture Zone drill programme but also an almost £2 million placing. To start with, there’s the expansion of the Kalahari Suture Zone (“KSZ”) drilling programme in Botswana. This now involves drilling an impressive 550m borehole through Target B1, once operations at Target A2 & Target C1 are complete. Mindea Exploration and Drilling Services (“Mindea”), the drill operator, began drilling at the KSZ in June with two ‘proof of concept’ geological holes. Mindea started with A2, and will proceed to C1 before moving on to B1. Target B1 itself measures 475m by 550m and has a conductance of approximately 8,200 Siemens as well as an estimated decay constant of more than 350ms. While A2 and C1 share the same geological corridor, B1’s geological setting is separate and distinct. The company said Spectral Geophysics will be performing “immediate down hole electromagnetic (“EM”) surveys” on all boreholes upon completion. So far, Spectral has conducted Time Domain Electromagnetic (“TDEM”) surveys on six target areas. These identified drill targets in A2, C1, and B1 but not A1 or D. Analysis of Target Area B2 data is still ongoing, with two more TDEM surveys planned for Target Area B, including on for Target B1. Chief executive Ben Turney said the negative A1 and D1 results bring “a high degree of comfort”, since they means that the TDEM surveys are selectively identifying EM conductors. This is proof that the firm is “using the right remote sensing technology to define specific drill targets”. As previously announced, 49% Mindea shareholder Equity Drilling and Kavango are in talks to form a strategic drilling partnership. Equity Drilling is currently “owned and run by highly experienced African drill operators”. Options on the table include Kavango’s potential acquisition of two drill rigs as well as support vehicles which would form a “dedicated team” across the firm’s project portfolio. The company said that any such partnership would be “subject to due diligence” and is expected to involve both cash and share payments. More announcements will follow. Turning to the placing, then, First Equity placed 35.3 million new shares on Kavango’s behalf with institutional and other investors at a 5.5p per share price. This was only a 5% discount to the share price at the time. The firm’s shares were trading higher, in fact, on Monday—up 3.5% at 6p each. The placing involves a one-for-one warrant for all placing participants, with an 8.5p per shar exercise price for a two-year period.Warrants are subject to an acceleration clause, meaning that if Kavango’s shares close at more than 17p for five trading days then the company can give notice of an accelerated exercise with a ten-day deadline for payment. Gross funds raised amount to £1.94 million. Certain directors are in talks to potentially take part in a subscription on the same terms as the fundraise, with an announcement to follow later this week if they reach an agreement. Turney said that while “Kavango is already well financed”, its budget was designed for “a specific work programme” with “a certain amount of drilling in 2021” while the company pursued if ‘proof of concept’ objective in the KSZ. However, he explained, the board has now realised that its projects need “much more extensive campaigns”. In response, the firm has advanced its Equity Drilling talks “about instigating much larger drill programmes” whish respond to Kavango’s “rapid progress” so far in the fiel The chief executive highlighted the “minimal discount and an excellent price” for the financing, reflecting the strength of the company’s position. “With our general overheads already budgeted for, Kavango will now deploy the new funds into pursuing our ambition of making one or more major mineral discoveries,” Turney concluded. Author: Anna Farley
05/7/2021
10:22
fbrj: Taking the warrants referred to in the RNS Each new share at 5.5p came with a warrant attached. Each warrant gives you the right (but not an obligation) to exercise at 8.5p during a period of 2 years. You will obviously only want to pay 8.5p if the share price at the time is well above that - eg 10p. So you would make a profit of 1.5p on each share you bought at 8.5p and then sold for 10p. It is a positive sign for shareholders that the warrants are being issued at a premium (about 50%) to the current share price In other words the buyer of the share4s with warrants is expecting the share price to be at least 8.5p within the next couple of years. If the share price did not reach 8.5p, the warrant would not be exercised and would then just expire/lapse.
02/7/2021
13:36
skiboy10: MININGMAVEN on: 02 July 2021 Seven drill-ready targets identified at Kavango and Power Metal’s promising Ditau project (KAV, POW) Power Metal Resources (LON: POW) and Kavango Resources (LON: KAV) revealed on Friday that they have identified seven drill-ready targets for their Ditau project in Botswana. The pair are seeking Rare Earth Elements (“REEs”) at Ditau under a 50:50 joint venture (“JV”), and identified the targets after geophysical and geochemical surveys spanning twelve prospective areas were completed. Each of the seven targets has a “possible carbonatite intrusive body” in range of reverse circulation (“RC”) drilling are within 300m depth. Three targets—I1, I4, and I10—are now classified as high priority. I1 is an “intense magnetic dipole” spanning 17km by 8km. The depth to source is shallow, less than 100m, with the target likely sitting just beneath the Kalahari sands. I1 is at the intersection of two major regional fault lines. Testing so far has identified anomalous niobium values at I1, a REE used for a number of superconducting materials as well as industrial alloys. Target I4, meanwhile, spans 7.5km by 5km and, like I1, has a shallow depth to source – fewer than 100m. I10 spans 2.5km by 2.8km and geophysics found “high AMT resistivity, coincidental with a gravity high”. This follows surveying with Audio-frequency Magneto-tellurics (“AMT”) and gravity surveying to assess density. There are seventeen rare earth elements, all of which are metals, grouped together in the periodic table and usually found together in deposits. The group includes yttrium as well as the fifteen lanthanide elements. Scandium, which is found in the majority of REEs deposits, is sometimes considered a REE as well. REEs are used in a large number of devices, including magnets, rechargeable batteries, computers, and mobile phones. Demand for these elements has skyrocketed as these kinds of devices become ubiquitous. While REEs are found worldwide, China is the dominant player, with Chinese mines producing over 55% of the world’s global mining output for REEs in 2020. Paul Johnson, Power Metal’s chief executive, said it is “extremely positive to be able to confirm high priority drill targets at Ditau in Botswana”, especially as its strategic objective is to discover REEs “at a time when the world is seeking secure and safe supply sources”. Should the upcoming Ditau drill programme find the hoped-for REEs deposits, then he believes “Ditau will become an extremely valuable project”. Ben Turney, Kavango’s new chief executive, added that the seven drill targets are “particularly encouraging”. “Carbonatite hosted deposits of Rare Earth Elements hold significant strategic and commercial value. Kavango’s targets are relatively shallow, which should make it straightforward to determine this project's potential,” Turney noted. The two companies have another Botswana JV, the South Ghanzi project in the Kalahari Copper Belt. In June, the two reported excellent results from soil sampling at the Morula target at South Ghanzi. As soon as the JV partners obtain the necessary Environmental Management Plan for South Ghanzi, drilling will start at Morula. Separately, Kavango is set to start drilling at its Kalahari Suture Zone project in Botswana – announcing in June that it would start drilling there by the end of that month. “We look forward to revisiting Ditau later this year, once we've completed our other high-impact drill campaigns,” Turney said. Author: Anna Farley https://miningmaven.com/company-news/63-kavango-resources/1175-seven-drill-ready-targets-identified-at-kavango-and-power-metal-s-promising-ditau-project-kav-pow
21/6/2021
22:30
skiboy10: MiningMaven on: 21 June 2021 Excellent results lead Kavango and Power Metal to crown Morula new South Ghanzi priority (KAV, POW) Kavango Resources (LON: KAV) and Power Metal Resources (LSE:POW) on Monday unveiled yet more encouraging results from their South Ghanzi project in the Kalahari Copper Belt. Since an announcement on May 14, Kavango has now completed and analysed samples taken from 16km of infill soil-sampling at Morula. Airborne Electromagnetic (“AEM”) surveys at South Ghanzi previously defined “seven kilometre-scale conductors” at South Ghanzi. Targets Acacia and Morula are the highest priority short term, with Acacia previously top of the list. Now, as a result of these latest highly encouraging results, Morula has overtaken Acacia to become the 50/50 joint venture’s (JV) highest priority target for exploration. As soon as the JV partners obtain the necessary Environmental Management Plan (“EMP”) for South Ghanzi, drilling at Morula will begin. Encouraging results The latest sampling involved four 4km-long sample lines spaced 1km apart, sampled every 100m. Work found anomalous copper levels, from all soil sample lines, of between 35 parts per million (“ppm”) and 68ppm, as well as anomalous zinc levels of between 59ppm and 111ppm. These new readings closely correlated with results from seven original soil-sampling lines at South Ghanzi. Impressively, samples confirmed that the conductor/anomaly at Morula extends at least 12km along strike. This “clearly defined mineralised zone” is on a south-westerly trend and runs parallel to two steep anticlinal structures. It is open in both directions along strike. The JV partners are now working to assess optimal locations for drilling at Morula and Acacia, where targets look to be near the surface and have “minimal Kalahari sand cover”. Estimated intercept depths for drilling are between 120m and 200m. Well researched targets Until Morula, Acacia was the highest priority target for drilling at South Ghanzi. Acacia is located on Prospecting Licence (“PL”) 036/2020’s northern boundary, inside an interpreted fold “nose”. In geology, a fold is when factors like heat, stress, and pressure cause rocks to bend or flex. Folds can have a “nose”, a curved shape at the fold’s tip where metals often accumulate. Soil geochemistry over the anomaly shows highly elevated copper levels of more than 42ppm and zinc of more than 75ppm. Morula, meanwhile, is an estimated 2km wide, with its at least 12km of strike following a south-westerly ttend along PL 036’s central backbone. The target was discovered by extending soil sampling lines south of Acacia, and is “supported by a well-defined AEM linear conductor”. Through geological mapping, the JV parties have found evidence that Morula is the mineralised sheares southern limb of the Acacia fold. Initial drilling depths for Morula are thought to be less than 200m, based on AEM profiles showing relatively shallow mineralisation. Transformational potential The two companies have made plans to transfer the PLs for South Ghanzi into Kanya Resources, their recently established Botswana JV company. Looking ahead, the two intend to float Kanye on a recognised stock exchange. Kavango chief executive Michael Foster said “Morula is rapidly developing into one of the most exciting drill targets in our entire portfolio”, noting that the company plans to start drilling “as soon as we can, after we have received approval of our EMP”. Paul Johnson, Power Metal’s chief executive, commented on “the substantial opportunity the Kalahari Copper Belt offers for major base metal discoveries”. He pointed out that, during his time as chief executive of Kalahari Copper Belt explorer Metal Tiger (LON: MTR) in 2016, “we followed a similar exploration methodology”. That same methodology led to the discovery of the T3 Deposit, a “transformational” discovery for Metal Tiger and its shareholders. “The exploration datasets from South Ghanzi have delineated very strong drill targets and I am very much looking forward to the commencement of a programme of drill testing at the Project,” Johnson concluded. Author: Anna Farley https://miningmaven.com/company-news/63-kavango-resources/1169-excellent-results-lead-kavango-and-power-metal-to-crown-morula-new-south-ghanzi-priority-kav-pow
15/6/2021
14:45
skiboy10: MININGMAVEN on: 15 June 2021 Kavango Resources’ powerful run continues with exciting new EM anomaly in Botswana (KAV) Kavango Resources’ (LSE: KAV) strong run of newsflow continued on Tuesday, with the firm revealing that it has identified a new target at its highly prospective Kalahari Suture Zone project in Botswana. As announced Thursday last week, Kavango is gearing up to start drilling in the Kalahari Suture Zone (“KSZ”) this June with two ‘proof of concept’ geological holes. This latest electro-magnetic (“EM”) anomaly is in Target Area C of the KSZ’s Hukuntsi (northern) section and is designated Target C1 (“C1”). The conductive anomaly, measuring 1,200m by 1,600m, is situated only 11km from Target A2 (“A2) – announced April 20. Not only that, but C1 and A2 appear to share the same geological corridor. Drill operator Mindea Exploration and Drilling Services (“Mindea”;) has already set up camp between the two targets and will start drilling at A2 in June and C1 in July. There will be at least one hole in A2 and at least one in C1. Under the contract, Mindea will drill at least one 500m diamond hole at each of the two targets at Hukuntsi, with the cost per metre based on a possible per hole depth of 800m. The contracted company will also design and engineer all of the bore holes. Not only that, but there is potential for increasing the drilling scope once the rig is on site – pending additional data analysis. In yet more encouraging news for Kavango, it will pay less than half the drill cost to Mindea in cash, approximately £70,000. The rest is payable in shares, with the stock issue price being 4.53p per share The two targets lie within what Kavango has described as “‘Norilsk-style’ gabbro keels”, and the goal with both drill holes will be to recover and analyse core from the bottom of the keels in order to test for the “potential to host major metal sulphide deposits”. ‘Norilsk-style’ refers to northern Russia’s Norilsk mining centre. Norilsk is the leading nickel and palladium producer in the world and a significant copper supplier. Gabbro is a type of rock formed when magma cools slowly under the earth’s surface. Chief executive Michael Foster praised the “highly similar characteristics̶1; shared by C1 and A2, calling it “very encouraging”. He highlighted the targets’ “ideal geological setting” and C1’s size, as well as its “conductance of 2,500 Siemens and a decay constant of ~360msec”. Drilling at the KSZ follows three years of “extensive geophysical surveys” at Hukuntsi by air and on the ground. Efforts include an orientation drill programme, which helped build the firm’s extensive 3D Magnetic Model, as well as Time Domain Electromagnetic (“TDEM”) surveys. In keeping with this scientific approach, Kavango intends to conduct “extensive assaying and downhole geophysics” for all of the boreholes drilled. The planned testing programme for the boreholes includes downhole electromagnetic (“EM”) surveys, which will be performed by Spectral Geophysics. The anticipated search radius for these surveys will be between 300m and 400m from the drill string. Additionally, the Kavango exploration team will conduct XRF testing of cores, as well as splitting the core for assay and petrological work. Academic consultants in the UK will further analyse the petrological/mineralogical and geochemistry studies. Elsewhere, Equity Drilling, a 49% Mindea shareholder, is in “ongoing discussions” for a possible future strategic partnership with Kavango. The company currently operates what Foster described as a first of its kind “highly regarded drill school in Gaborone”. With drilling now imminent, this is an intense moment in Kavango’s history, perhaps the most important so far. Shares in the company had risen by more than 3% on Tuesday morning, having grown by more than 120% year-to-date. This includes a rise of close to 40% in the last five days with a strong boost from the announcement on Thursday. “If drilling validates our interpretation of the data, this could prove to be a significant development in our attempts to unlock the Kalahari Suture Zone,” Foster said. Author: Anna Farley
04/6/2021
15:36
skiboy10: 4 June 2021 KAVANGO RESOURCES PLC ("Kavango" or "the Company") Issue of options to key members of staff Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the Board has approved the grant of employee Share Options over 6,250,000 Ordinary Shares (the "Options") to certain key members of staff. The Options will be subject to a vesting period of one year, with half the Options vesting after six months and the remainder vesting after twelve months, provided the employee remains employed within the Kavango group. The Options are exercisable at a price of 5 pence per Ordinary Share for a period of seven years. The Options carry a vesting condition whereby the Options only become exercisable once the Company's reported closing mid-market price per Ordinary Share closes above 7.5p on five separate trading days. Ben Turney, Executive Director of Kavango Resources, commented: "Kavango has recruited an outstanding team in Botswana. The creative energy they bring to our business is one of our least appreciated strengths. It is no coincidence our portfolio of projects is advancing at the pace it is. Today's option award recognises the substantial contribution our staff has made to Kavango over the years and provides them with significant motivation to help us to make major mineral discoveries in the future. As we enter the next important phase of exploration, I hope all their efforts are richly rewarded." 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 further information please contact: Kavango Resources plc Michael Foster
03/6/2021
20:11
skiboy10: MiningMaven on: 03 June 2021 Kavango confident in KCB copper systems following extensive target discovery (KAV) Kavango Resources (LSE: KAV) unveiled its discovery of extensive copper/silver targets on two prospecting licences in the Kalahari Copper Belt on Thursday. Chief executive Michael Foster said the latest Airborne Electromagnetic (“AEM”) surveys in Botswana provided “compelling justification for Kavango’s strategy in the Kalahari Copper Belt” (“KCB”). “We are confident we have identified copper mineralised systems, which we now have to test through drilling,” Foster said. The KCB is a mineral belt extending nearly 1,000 kilometres from northeast Botswana to western Namibia. The discovery rate at the KCB has accelerated over the past ten to fifteen years, with two copper-silver mines developed there. An increasing draw has been the rising price of copper, which some expect to hit $15,000 per tonne as electrification drives up demand. Year-to-date, the price is already up more than 20%, having surpassed $10,000 already. Electric vehicles use double the amount of copper as hybrid vehicles, as do other green technologies like wind – with just one wind turbine containing as much as four tonnes of copper. In fact, renewable energy technology uses up to five times the copper of traditional power generation methods like fossil fuel plants. Kavango’s recent AEM surveys detected the latest targets at prospecting licences (“PLs”) 082/2018 and 083/2018. Both PLs are held in a joint venture (“JV”) farm-in with LVR GeoExplorers, known as the LVR project. The firm highlighted “strong soil geochemical anomalies” above the targets at surface. With 1,216 kilometres (“km”) of AEM surveys flown over the project in March, the first stage of the farm-in is complete, and Kavango now holds a 25% stake in the LVR project. Under its JV agreement, the company has the right to acquire up to a 90% interest in the PLs through its commitments, in stages, to exploration expenditure. At drill-ready PL 082/2018, the AEM surveys identified a series of conductors over a deformation zone 3.5km wide. The conductors are located along strike of Cupric Canyon’s Boseto Mine in the northeast and the Plutus deposit. The primary target at PL 082/2018 is a large EM conductor that extends to 400 metres (“m”) at a minimum from the surface. The company highlighted that the PL is distinctly similar to “Cupric Canyon’s Banana Zone South Limb”, located on the Ghanzi Ridge’s south side. PL 083/2018 is not drill ready yet, as more field exploration is still needed to “delineate drill targets”. However, it has over 10km of AEM conductors on its southeast side with two main targets that are 6km and 4km wide. The two targets possess “copper in soils anomaly over three lines”, with 500m spacing, and the anomaly is still open. The PL 083/2018 conductors have an underlying linear magnetic anomaly that extends for more than 2km under the soil anomaly. Kavango expects to start drilling in the third quarter of 2021, once the Environmental Management Plan is awarded. Foster commended the company’s “highly effective” integrated approach to exploration, which combines “soil geochemistry, stratigraphical and structural mapping together with geophysical surveying”. A trenching program at PL082/2018 plus further soil geochemistry on PL083/2018 are planned before the drill programme later this year. Author: Anna Farley https://miningmaven.com/company-news/63-kavango-resources/1164-kavango-confident-in-kcb-copper-systems-following-extensive-target-discovery-kav
17/5/2021
14:16
skiboy10: Cause to celebrate as Kavango and Power Metal KCB survey finds seven extensive anomalies (KAV, POW) Kavango Resources (LON:KAV) and Power Metal Resources (LON:POW) posted highly encouraging survey results on Friday, with an impressive seven targets now identified at the South Ghanzi copper project. South Ghanzi, a 50-50 joint venture (“JV”) between Power Metals is located in Botswana’s underexplored Kalahari Copper Belt (“KCB”). This mineral belt extends for almost 1,000 kilometres from northeast Botswana all the way to western Namibia. The KCB discovery rate has accelerated over the past ten to fifteen years, delineating significant new mineral resources, with two copper-silver mines developed. Now, the JV partners are intent on securing their own slice of the pie, with Airborne Electromagnetic (“AEM”) surveys in February defining seven kilometre-scale anomalies, each representing a possible drill target. Follow up ground-based exploration found what Kavango rightly described as “very encouraging results”. There was close correlation between the AEM data, copper-zinc in soils geochemistry, and regional geological mapping. Michael Foster, Kavango’s chief executive, commented on the “very promising” results so far from South Ghanzi, and the “elevated copper and zinc readings” especially. All of this closely aligns with Kavango’s prior fieldwork, as well as the regional exploration model. Based on initial data interpretation, the target depths range from 40 metres (“m”) to 400m for exploration drilling. Foster said the “generally shallow depth of the conductors is a major asset” for the JV. The next step for operator Kavango will be additional soil sampling, as well as trenching and geological mapping before the drill programme planned later this year. Three of the conductors identified were “associated with anticlines/fold structures”, making them the highest priority for this programme. First priority is target 36A, known as Acacia, a 4 kilometre (“km”) by 4km conductor located inside a fold “nose”, plunging southeast. Directly over this anomaly, soil geochemistry found extensive elevated copper and zinc levels – more than 42 parts per million (“ppm”) copper and over 75 ppm zinc. Paul Johnson, chief executive of Power Metal, said the company was “particularly encouraged” by Acacia. He noted that the target contained both “a high conductivity signature” found in the AEM survey as well as “almost perfectly coincident” zinc and copper-in soil anomalies. Johnson pointed out that these “are key signatures typical of nearby copper-silver discoveries within the Belt”. Second priority target 36G, Morula, is around 2km wide, plus at least 12km of strike – open at both ends. Morula is likely to be “the sheared and thrust faulted southern limb of the ‘Acacia’ fold”. Soil sample lines taken at Morula found significant 38ppm to 62ppm copper concentrations and 59ppm to 111ppm zinc all across the 12km soil anomaly. Then there’s target B, or Baobab, a 2km by 3km closed conductor sitting across the ‘nose’ of a second on Acacia’s same stratospheric horizon. This is the third priority target. An addition to the first three is target E, or Elephant, 2.5 kilometres wide and with a strike of at least 6km. This is open at both ends, with Elephant’s main body between 400m and 600m from surface. This is unusual for the project, given the generally shallower depth of other conductors. Elephant is fourth priority, and has a number of faults intersecting the main body, resulting in “several close surface conductors” that might be sampled though shallow drilling. On top of all this, Kavango may choose to conduct even more AEM survey work aimed at closing off and establishing the true extent of the conductor. “The exploration story at South Ghanzi continues to progress at pace and we eagerly await the next phase of results and drill testing of several of these high-priority targets,” Johnson said. The copper price recently hit a new high, with a current copper shortage and declining inventories set to push prices even higher. Right now, Bank of America is expecting a 186,000 tonne deficit for 2021 and a 369,000 tonne shortfall in 2022. The red metal is in high demand thanks to electrification, with electric cars especially requiring a great deal of copper. An electric vehicle might need over a mile of copper wiring for its stator windings alone. On the regulatory front, the Environmental Management Plan (“EMP”) for South Ghanzi, submitted in February, is making progress. Botswana’s Department of Environmental Affairs (“DEA”) has now accepted the EMP project brief. The next step will see a consultant, on Kavango’s behalf, start engaging and consulting with local farmers. The consultant will then submit “a report to the DEA to progress the application”. Kavango and Power Metals each hold their 50% interest in South Ghanzi through Kanye Resources, with plans underway for a Kanye IPO on a recognised stock exchange. “With the Environmental Management Plan application progressing well, the next few months in South Ghanzi will be key,” Foster concluded. Author: Anna Farley https://miningmaven.com/blog/1158-cause-to-celebrate-as-kavango-and-power-metal-kcb-survey-finds-seven-extensive-anomalies-kav-pow
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