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Kavango’s three projects in Botswana offer an excellent diverse potential for the discovery of nickel-copper-PGE, copper-silver and rare earth deposits. Listed on the Main Board of the London Stock Exchange (Standard List) - (KAV.L)
The Kalahari Suture Zone (KSZ) Project, a 450km long N-S magnetic structure of continental proportions, is a large scale nickel, copper, cobalt and PGE group
exploration project in the southwest of the country. It is similar in its geological
setting to the giant Norilsk deposits in Siberia. Kavango recently completed two phases of airborne electromagnetic surveys covering over 4,000 line-kms in the northern part of the KSZ. Numerous conductor anomalies were identified and located on the ground; drilling of the most prospective targets is planned for late Q3 / early Q4 2019
The Ditau Camp Project (Ditau) is a 7km long magnetic body with corresponding geochemical and gravity anomalies approx. 50km west of the KSZ structure. It is one of 10 significant ring structures in the two Ditau licences. Two recent drill holes and the discovery by Falconbridge of a carbonatite in the area indicate a large area of alkali intrusive bodies. Carbonatites are generally associated with rare earth minerals. Whilst the Company continues to add value to the project with some low cost (within the current budget) geophysical surveys at Ditau, the medium term plan is to attract a joint venture partner.
The Kalahari Copper Belt (KCB) extends in a northeast-southwest direction for at least 1,000 km from western Namibia to north-eastern Botswana. The KCB contains known sediment-hosted copper-silver deposits two of which are currently being developed into mid-tier copper-silver mines. Kavango will carry out geophysics surveys and soil sampling to identify copper hosting anticline structures. The KCB Project is the subject of a recently signed MOU with a private Botswana company, who hold two strategic but unexplored PLs in the KCB area, whereby Kavango can earn an interest in the two licences by spending funds on exploration.
Kavango’s three projects in Botswana, the Kalahari Suture Zone, the Ditau Camp Project and the Kalahari Copper Belt, offer an excellent diverse potential for the discovery of nickel-copper-PGE, copper-silver and rare earth deposits.
Botswana is recognised as the best jurisdiction in Africa for business and with the Company’s very experienced management team the chances of success are high.
Cheers D220 - the landscape for REEs is encouraging.
KAV being main market listing does help at a corporate level in a number of areas. I'd recommend reading the latest annual report if you haven't already. The resounding message is that we have a resource company with some perspective ground pegged, an experienced management team and geologists with skin in the game.
Salaries are well controlled and stock options are sensibly priced to allow growth for all shareholders.
We just need that discovery / proving of the company's hypothesis to light a fire under this. The catalysts are there.
Bozi, with articles like this yesterday, the backdrop looks good to me:
I DO like the fact that KAV are FTSE listed rather than AIM which gives me greater assurance that corporate governance is sound!
Me neither D220.
We've had drip sellers and a few buyers in recent days so it feels harsh to mark us down 10-15% on where we were.
This isn't going to make anyone rich overnight but as a pure exploration play I struggle to find many if any better options at this level. I've also topped up this week and have another order lined up.
The company recently added optionality with the copper licence MOU in Northern Botswana on the KCB. Botswana is their chosen playground and they've amassed 4 different plays all with promise.
Whilst the Ditau assay results were a slight surprise given the XRF positivity another door has opened with the fenitization discovered. As Mike M said this week a carbonatite has roughly a 1/9 "chance of being likeable. With Ditau have at least 10 of these structures we have to be hopeful we can turn something up.
This is the sort of company at £2.5m mcap that upon the right news and in the right market conditions can grow exponentially. I'm not saying we're in the perfect storm yet but it cannot be too far away.
I really don't get why it has dropped today. Not much volume and , I thought, the news yesterday was pretty good. Anyway, I have taken the opportunity to buy another £4.5k.
I sincerely hope your right Bozi
I don't know where you get that from Tony.
The company has said that Ditau exploration has already been budgeted for and JV discussions are progressing with numerous NDAs signed with a variety of major and mid-tier mining companies.
Anyone who has followed the story so far knows the company has been resourceful and careful with funds. I expect that to continue based on conversations I've had and reports I've read.
I'm going to stick my neck on the line and say this SP won't drop much further.
Clearly Kav is running out of funding or the resources to take this to the next stage, they need to find a partner with deeper pockets and the same enthusiasm for deeper more expensive exploration.
Joint Venture Discussions
In order to offset the costs of a prolonged exploration programme, which may involve extensive resource drilling, Kavango has signed Non-Disclosure Agreements with several major and mid-tier companies concerning possible future joint ventures. The orientation programme (described above) is expected to support these discussions and the Company will provide further updates in due course.
Michael Foster, Chief Executive Officer of Kavango Resources, commented:
"There is mounting evidence that Ditau is at the centre of a previously unrecognised alkali magmatic complex. The current orientation exercise is designed to confirm the existence of carbonatite associated with the 10 ring structures identified to date. A number of mining companies have shown interest in this project and we look forward to working with an industry partner to realise fully its potential."
16 September 2019
KAVANGO RESOURCES PLC
Carbonatite orientation programme at Ditau
Kavango Resources plc (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 the Company's Ditau Project.
o Further analysis of assay and geochemical results from February's core drilling, suggests the presence of "fenitization", a type of alteration associated with carbonatites
o 10 magnetic "ring structures", which are prospective for carbonatites, have now been identified within the Ditau licences.
o Carbonatites often contain numerous economic minerals and are the primary source of Rare Earth Elements (REEs).
o Kavango recently learned of 3 carbonatites that were discovered in the 1970s by Falconbridge less than 25km from the Ditau drill sites.
o Kavango is initiating an orientation programme over the Falconbridge carbonatites (within the Company's existing budget).
o Non-Disclosure Agreements (NDAs) have been signed with several major and mid-tier mining firms concerning a possible Ditau Joint Venture
Ditau comprises two prospecting licences (PLs), which cover an area of 1,386km2. Kavango originally identified a magnetic anomaly at the first of these two licenses, which the directors believed presented an attractive exploration target.
In February 2019 the Company drilled two holes into the "original" Ditau magnetic anomaly (the "Ditau Camp Prospect"). Assay and whole rock geochemistry results from these two holes, released in early August, demonstrated the presence of an extensive zone of highly altered Karoo sediments sitting above a mafic intrusive body. The alteration extended to over 300m in depth in both holes, which were 1.8km apart.
The geochemistry obtained from the drill core suggested that the alteration was due to "fenitization", a type of extensive alteration associated with alkali magmatism and carbonatites. Carbonatites are the major global source of Rare Earth Elements (REEs).
The Ditau Targets
Analysis of existing airborne magnetic data identified 10 "ring structures" aligned along a SW-NE axis in the Ditau area. Ring structures are typical of alkali magmatism, which are often accompanied by the intrusion of carbonatite in the form of plugs or dykes.
Recognition of this hitherto unknown complex of alkali ring structures (including at least one possible kimberlite) prompted Kavango to apply for the second PL at Ditau, which was granted in June of this year.
Carbonatites are the principal primary source of REEs including the much sought after elements Neodymium (Nd) and Praseodymium (Pr), which are used in the manufacture of the new generation of electric vehicles (EVs), magnets and other high tech applications.
The board believes that Ditau's post-Karoo age is likely to be conformable with the Long
Not quite sure where that volume came from. Largish delayed sell now showing too.
Seems to have perked up a little this afternoon. Somone buying on expectation or has an RNS been logged for tomorrow? Way oversold IMO so great opportunity to get in at this level.
Under the terms of the farm-in deal, Kavango will have the right to earn up to a 90% interest in both or either of the licences.
Kavango Resources (@KavangoRes)
To clarify for several shareholders that have asked for further info on LVR (from today?s MOU) - they are 100% local Botswana individuals, some of whom are experienced geologists who were high up in the very well managed Botswana Geological Survey.
SP Angel - Morning Notes
Kavango Resources (KAV LN) 1.8p, Mkt Cap £2.9m – Earning up to 90% in two licences in the Kalahari Copper Belt
Kavango Resources reports that it has signed a Memorandum of Understanding with a Botswana company, LVR GeoExplorers, to farm in to up to a 90% interest in two exploration licences in the Kalahari Copper Belt in Botswana.
Over the first 12 months, Kavango is obliged to spend approximately £92,000 on each of the licences in order to acquire a 25% interest. Kavango, which will manage the exploration programme, can increase its interest in either licence by advancing the project to a bankable feasibility level.
The first of the licences (PL082/2018) is located approximately 30km north of MOD Resources’ T3 mine development project and is “completely surrounded by MOD/Metal Tiger exploration licences including their T5, T6, T9, T10, T14 and T15 targets.
The PL lies astride the main Ghanzi - Maun Highway.”
The second licence, PL083/2018, is close to the Namibian border “south of the Trans-Kalahari Highway and adjacent to the block of licences held by Kapore Metals Limited.”
Chief Executive, Michael Foster, described the agreement as “an excellent opportunity for Kavango to acquire an interest in some highly prospective ground in the KCB area, which is now regarded as one of the world's most promising under-explored copper provinces. We believe that the proposed Joint Venture with LVR represents excellent value for shareholders, who now have the prospect of acquiring an interest of up to 90% in these licences.”
He also confirmed that “We will continue to consider other opportunities in this exciting copper province, while our main focus remains the KSZ Project".
Conclusion: The offer by Sandfire to acquire MOD Resources has highlighted the exploration potential of the Kalahari Copper Belt. Kavango Resources’ success with its own exploration at KSZ and the expansion of its portfolio of exploration property within the Kalahari Copper Belt via the MoU with LVR GeoExplorers may prove to be particularly timely.
Kalahari Copper Belt - MOU signed
Kavango Resources plc (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, announces the signing of a Memorandum of Understanding with the Botswana company, LVR GeoExplorers (Pty) Ltd to farm into two Prospecting Licences in the Botswana section of the Kalahari Copper Belt.
-- Earlier this year, Kavango Minerals (Pty) Ltd was approached by the Botswana registered company, LVR GeoExplorers (Pty) Ltd ("LVR") with a view to assisting them with the exploration of two Prospecting Licences ("PLs") in the highly prospective sedimentary copper province known as the Kalahari Copper Belt ("KCB").
-- Following subsequent negotiations, Kavango has now signed an MOU with LVR that provides for a staged Farm-In, which will give Kavango the right to earn up to a 90% interest in both or either of the licences.
-- In the first 12 months following the signing of the Farm-In Agreement, Kavango will be obliged to spend BWP1.25m (circa GBP92,000) on each of the licences to acquire a 25% interest which has already been allocated within the current budget.
-- A 90% interest in either licence can be earned by taking a project through to bankable feasibility.
-- Kavango will be managers of the exploration and development but will be allowed to withdraw at any time following a two month notice period.
-- PL 082/2018 lies 30km north of MOD's T3 mine development and completely surrounded by MOD/Metal Tiger exploration licences including their T5, T6, T9, T10, T14 and T15 targets. The PL lies astride the main Ghanzi - Maun Highway.
-- PL 083/2018 is close to the Namibian border south of the Trans-Kalahari Highway and adjacent to the block of licences held by Kapore Metals Limited.
-- Exploration of these licences will commence within four weeks of the signing of the Farm-In Agreement.
Michael Foster, Chief Executive Officer of Kavango Resources, commented:
"The signing of an MOU with LVR GeoExplorers represents an excellent opportunity for Kavango to acquire an interest in some highly prospective ground in the KCB area, which is now regarded as one of the world's most promising under-explored copper provinces. We believe that the proposed Joint Venture with LVR represents excellent value for shareholders, who now have the prospect of acquiring an interest of up to 90% in these licences. We will continue to consider other opportunities in this exciting copper province, while our main focus remains the KSZ Project".
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.
Notes for Editors:
Sedimentary copper deposits are attractive to mineral exploration companies because they can form orebodies that compete with porphyry deposits on tonnage but are o
paul johnson (@pauljohnson9691)
Waiting for confirmation of carbonatite at Ditau, RNS to be released on this soon. If so Ditau will be a major’s target without question. I expect we will see a Major into this project quite quickly. Market will then react properly. #KAV ??@KavangoRes??
Q&A with Kavango Resources' Mike Moles on how it's all to play for at Ditau (KAV)
11 August 2019
closed out the six months to 30 June 2019 with US$808,000 cash in the bank
Rio Tinto invites more junior JVs
5th August 2019 BY: ESMARIE IANNUCCI
CREAMER MEDIA SENIOR DEPUTY EDITOR: AUSTRALASIA
KALGOORLIE (miningweekly.com) – The exploration arm of mining major Rio Tinto has called on junior explorers to enter into joint ventures (JVs) with the company.
“We have completed deals with Antipa Minerals in Western Australia and Star Diamonds in Canada and today we have a large number of JVs and earn-ins under way around the world. We are actively seeking to do more with junior and midtier companies. Our door is firmly open,” Rio’s group executive for growth and innovation, Stephen McIntosh, told delegates at the first day of Diggers and Dealers, in Kalgoorlie, Australia.
“Exploration has been a cornerstone of our business for more than 70 years and is core to our DNA. We’ve consistently funded exploration efforts through this period and in recent times our spend has averaged around $200-million per year,” McIntosh said.
In 2018, Rio spent $231-million on greenfield exploration, split about 75% in Organisation for Economic Cooperation and Development (OECD) countries and Peru and 25% in non-OECD countries.
“Our focus today is mostly on copper and diamonds, but we are really commodity agnostic. We have the ability to flex this focus in line with economic cycles and where we see the best opportunities.
“We have assembled significant land packages around the world and are very actively drilling at this time. We are actually drilling the largest number of greenfield targets for close to two decades.”
McIntosh noted that while Rio was an ardent explorer, only the most attractive discoveries were developed, while noncore discoveries were divested. He noted that between 2007 and 2018, Rio spent about $1.8-billion on greenfield exploration and returned roughly the same amount through divestments of noncore projects.
“As I like to say we are delivering organic options for our company to invest in essentially for free. And of course we would like more of these options.
“Of course, we don’t believe in exploration for exploration’s sake, we ultimately judge our success by how many of our discoveries become projects. We are proud to say that nearly three-quarters of all tier-1 and tier-2 discoveries made by the group since 1947 have become operational mines.
“I think it is also important to call out our positive impact on the broader industry. Many of our divestments have become cornerstone businesses for other companies. I believe this symbiosis is often overlooked.”
"We really want to show the door is open. We don’t have an exclusive licence for good ideas for explorations, and we want people to come to us with their good ideas. We have the funding and the ability to scale, we have a world leading fabric of discovery success," McIntosh said on the sidelines of the conference.
Buy now! Shes about to bounce hard back to 3p imo
For anyone interested in researching a little more deeply into carbonatites, this recent article is quite comprehensive :
Here's a quote from the abstract :
"Nine per cent of carbonatites and alkaline-carbonatite complexes contain active or historic mines, making them outstanding multi-commodity exploration targets."
So if we do in fact have up to 10 of them at Ditau, there must be a fair chance of eventual success.
You might be right but I didn’t read it as being after more cash, it sounded to me like they want a jv partner in while they get on with the kalahari which is already costed up to a point. Always be prepared for surprises of course but actually if they get a jv together I think it would be a significant boost for sentiment and the sp.