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LONDON (Alliance News) - Kavango Resources PLC on Monday said it has completed the second phase of an airborne electromagnetic survey at its Botswana prospecting licences in the Kalahari Suture Zone.
Shares in exploration company Kavango were up 11% at 2.80 pence on Monday.
The survey was carried out over the northern section of its licences and covered around 2,100 line kilometres over "licences PL163/2012, PL365/2018, part of PL364/2018 and single lines in PL509/2014 and PL510/2014".
Preliminary results of the survey shows that the technology used for the survey "achieved exceptional depth of investigation" and the data is currently being interpreted and modelled.
Kavango said it will announce the results of the interpretation when its is available, alongside any priority drill targets.
Kavango Chief Executive Michael Foster said: "The company has now covered approximately 50% of the [Kalahari Suture Zone] licence area with airborne geophysics. The key now is for a thorough ground follow up plus of course drilling of further priority targets over the coming months."