Precious Metals
Kavango wins two licenses at Kalahari Copper Belt in Botswana (KAV)
Kavango wins two licenses at Kalahari Copper Belt in Botswana (KAV)
Kavango Resources (LSE: KAV) has been granted two new prospecting licenses in the highly prospective Kalahari Copper belt in Botswana.
The two 100%-owned licenses, PL-036/2020 and PL037/2020 cover 1294.2km2 and have been granted on three year terms. This can be extended to a maximum of 7 years.
The location is directly south west of large copper-silver discoveries operated by $870m AUD market cap Australian explorer Sandfire Resources (ASX: SFR). Sandfire is currently infill drilling to confirm sought-after mineralisation at its test location.
Kavango Chief Executive Michael Foster said his management team’s quality in-country contacts helped the company snap up the licenses as soon as they came on the market.
He said: “Given the positioning of these two new licences, in such close proximity to major copper-silver discoveries, we are eager to commence exploration here as lockdown restrictions are loosened in Botswana.”
Field exploration is expected to commence in mid-to-late June 2020.
He added that the acquisition of further licenses was underway.
The Kalahari Copper Belt is a key emerging exploration region for major copper-silver deposits.
In January 2020 the company signed up to a joint venture agreement with LVR GeoExplorers for two prospecting licenses, giving Kavango the right to take up to 90% interest by a staged earn-in. They are surrounded by developments operated by MOD Resources (ASX:MOD), AIM-listed metals investor Metal Tiger (LSE:MTR) and Sandfire.
At the time Johnson said: “We believe the signing of the JVA represents excellent value or shareholders.”
Kavango also has a particularly interesting world-class nickel-copper-PGM potential zone under exploration. More detail here.
Author: Mark Sheridan
The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.
MiningMaven Ltd, the owner of MiningMaven.com, does not own a position in the stock(s) and/or financial instrument(s) mentioned in the piece.
MiningMaven Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.
MiningMaven.com and MiningMaven Ltd are not responsible for the article’s content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance
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