Kavango Resources PLC Kalahari Copper Belt - LVR JV Licence renewal (0788M)
September 17 2021 - 2:00AM
UK Regulatory
TIDMKAV
RNS Number : 0788M
Kavango Resources PLC
17 September 2021
PRESS RELEASE
17 September 2021
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Kalahari Copper Belt - LVR JV Licence Renewal
Kavango Resources plc (LSE:KAV), the exploration company
targeting the discovery of world-class mineral deposits in
Botswana, is pleased to announce renewal of Prospecting Licences
("PLs") PL082/2018 and PL083/2018 (the "LVR Project") in the
Kalahari Copper Belt ("KCB"). The LVR Project is held in a Joint
Venture between the Company and LVR GeoExplorers (Pty) Ltd ("LVR").
Kavango is currently earning into the LVR Project and has to date
acquired a 25% stake.
The LVR Project covers 1,091km(2) of prospective ground in the
KCB. First drill targets were announced on 03 June 2021. Field
exploration is ongoing and a further update is expected in the
coming weeks.
Ben Turney, Chief Executive Officer of Kavango Resources,
commented:
"The LVR Project is quietly gaining momentum.
We think PL082 is particularly interesting. Analysis and
fieldwork so far suggest this licence could contain a mirror of
Cupric Canyon's Banana Zone South Limb on the other side of the
Ghanzi Ridge.
We expect to release descriptive media, illustrating the extent
of this project's potential in the coming weeks."
About the LVR JV
The LVR JV Agreement between Kavango and LVR GeoExplorers Ltd
comprises two PLs totalling 1,091km(2) . Kavango has the right to
acquire a 90% interest in the LVR Project through a staged
mechanism over seven years from 2 June 2021. Three stages remaining
in the earn-in agreement, which require that Kavango spend up to
27.5million BWP (c.GBP1.8million) in exploration expenditure to
earn its 90% interest.
Stage 1 of the JV was completed on 2 June 2021, meaning Kavango
has earned 25% interest in the two PLs.
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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
bturney@kavangoresources.com
+46 7697 406 06
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
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.
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END
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