Last checked at 31 May 2022 07:01
PRESS RELEASE
31 May 2022
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
IOCG Presentation
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) is pleased to announce the Company will host an online shareholder event to present the Iron Oxide Copper-Gold ("IOCG") exploration model for the Great Red Spot.
The Great Red Spot (the "GRS") is in the northern section of the Kalahari Suture Zone Project. It has been recognised as a large-scale exploration target for major metal and mineral deposits since the mid-1970s. However, technology has only advanced sufficiently in recent years to allow effective exploration.
Kavango has been conducting exploration over this 5km x 8km magnetic body since 2018. Following six months of additional field exploration and detailed desktop analysis, the Company announced the IOCG target on 07 May 2022. A full description of the IOCG target can be read in the announcement (link below):
https://www.investegate.co.uk/kavango-resources--kav-/rns/ksz---second-mineralisation-target-type-at-the-grs/202205090700067421K/
IOCG systems can host highly valuable copper, gold and uranium ores. The large size and relatively simple metallurgy can produce extremely profitable mines.
IOCG deposits are an alteration "overprint" of the host geology when they form. Therefore, Kavango believes the IOCG model represents a second mineralisation style possibly present within the GRS, in addition to the existing potential for nickel/copper (Ni/Cu) sulphide deposits.
Kavango believes this is a significant development for the prospectivity of the GRS.
Jeremy Brett and Hillary Gumbo, Kavango's chief geophysicists, will present the results of their work to investors in an online event on Wednesday 01 June at 1900GMT. Shareholders and investors are invited to join this event using the details below.
This event will be recorded and subsequently published on the Company's website.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
"The IOCG target at the Great Red Spot is a significant one for Kavango Resources. We have four separate data points that appear to correspond with one another, pointing in the same direction. These include results from gravity, magnetic and Audio-MagnetoTelluric (AMT) surveys, together with magnetite encountered in Hole KSZDD001.
Given the potential size of the IOCG target and the amount of work our team has put into developing this model, we've decided to host an event to let our geophysicists, Jeremy Brett and Hillary Gumbo, present their work unimpeded by time constraints. Investors are welcome to join the presentation and ask questions directly.
We will also take the opportunity to present images of vertical slices taken from our AMT surveys. We've talked a lot over recent months about our increasingly sophisticated use of AMT and shareholders will now be able to see how important this technology could be in our attempts to open up the Kalahari Suture Zone."
Topic: Kavango Resources Plc IOCG Presentation
Time: Jun 1, 2022 07:00 PM London
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https://us02web.zoom.us/j/81288592982?pwd=OUVCTnA3M3JCemZQUTlob3QrS05zUT09
Meeting ID: 812 8859 2982
Passcode: 071048
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Meeting ID: 812 8859 2982
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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 further 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