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Pin to quick picksKavango Resources Share News (KAV)

Share Price Information for Kavango Resources (KAV)

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Share Price: 1.525
Bid: 1.45
Ask: 1.60
Change: 0.075 (4.92%)
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Kavango shares rise on survey breakthrough at Kalahari

Fri, 25th Nov 2022 11:12

(Alliance News) - Kavango Resources PLC on Friday said it has found success using controlled-source audio magnetotelluric surveys at one of its Kalahari assets, dubbing the results an "important breakthrough" for the company.

Kavango is a London-based, Botswana-focused metals exploration company. The Kalahari copper belt, which runs for nearly 1,000 kilometres from northeast Botswana to western Namibia, is a prime focus in the company's exploration plans.

Over the last 12 months, the company has refined and calibrated its use of CSAMT across its project portfolio. Most recently, it completed a programme of the survey on its Kalahari prospecting licence, PL082/2018.

Kavango said that initial results of the data inversion from the line 4A survey appeared to show high quality vertical resistivity sections that identify sedimentary strata with good resolution, down to 4,000 metres depth. Line 4A is the longest line of CSAMT on the licence.

Results "far" exceed expectations, Kavango said.

Looking ahead, Kavango said that if drilling demonstrates that it can accurately map the D'Kar/Ngwako Pan contact from surface using CSAMT, it could substantially enhance its exploration programme in Kalahari.

"CSAMT applied to the Kalahari Copper Belt is showing impressive promise as a geophysical tool to detect the primary bedding and secondary brittle controls that are well known to control mineralization in the belt," said Kavango geophysicist, Jeremy Brett.

"This method provides the detection of structure in vertical section and meshes well with the regional folding and faulting that can be interpreted very well from aeromagnetic surveys. The combination appears to be very powerful for exploration targeting, and Kavango hopes to prove this via diamond drilling."

Kavango shares were trading 11% higher at 1.88 pence each in London on Friday morning.

By Holly Beveridge; hollybeveridge@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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