Strategy/Company/Ops Update

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KAVANGO RESOURCES plc

BOTSWANA OPERATING UPDATE

Kavango Resources plc (“Kavango” or “the Company”) (Ticker LSE: KAV), the exploration group listed on the Standard List segment of the main market of the London Stock Exchange and targeting the discovery of world class mineral deposits in Botswana, is pleased to announce an update on operations.

 

Highlights

  • The Company’s exploration programme is focused on the Kalahari Suture Zone (“KSZ”): targeting the discovery of world class Ni-Cu-PGE sulphide rich deposits in SW Botswana;
  • The target areas have a similar geological setting to the giant Norilsk deposit in Russia;
  • At present Kavango holds 100% of 12 Prospecting Licences (6,928km 2) based on a major under explored 450km long structural feature;
  • Historic exploration spend on the licences approximates US$2.2m and the knowledge gained has been applied in the development of the exploration programme;
  • An experienced geologist, Takashaya Murova, has now been appointed as Exploration Manager at the KSZ Project; he has 15 years of varied exploration experience, having worked with SRK Consulting, Cluff Mining and Rio Tinto’s subsidiary in Zimbabwe, and Rockover Resources in Mozambique;
  • A contract has now been signed with a subsidiary of Geotech Airborne Geophysical Surveys of Canada to carry out an airborne electromagnetic survey further details of which will be provided to market shortly;
  • Commencement of the Airborne Geophysical Surveys will be announced following receipt of government approvals which are expected shortly;
  • The Company’s Admission Documents and an updated presentation can be found on the Company’s website at www.kavangoresources.com.

Michael Foster, Chief Executive Officer of Kavango commented:

"We are delighted to be able to announce that Kavango’s contractors have now been appointed to carry out the airborne geophysical survey over the KSZ prospecting licences, which cover almost 7,000 Km 2 of south west Botswana.

We believe the under-explored licence area has potential for the discovery of world class base and precious metal deposits and we look forward to announcing further information with respect to the granting of all flying permits and our wider exploration programme in due course.”

 

For further information please contact:

Kavango Resources plc

 

Michael Foster

+44 20 3651 5705

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City & Westminster Corporate Finance LLP

+44 20 7917 6824

Nicola Baldwin

 

SI Capital Limited (Broker) +44 (0)1483 413500

Nick Emerson / Alan Gunn

 

 

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