Last checked at 13 Sep 2022 07:00
PRESS RELEASE
13 September 2022
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Licence Renewals and 1 New KSZ Licence Issued
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) ("Kavango") announces the renewal of 5 Prospecting Licences ("PLs") in the Kalahari Suture Zone ("KSZ") and one PL at the Ditau Project. In addition, the Company has also been awarded one new PL in the KSZ.
Kavango's total mineral rights in Botswana now cover 14,316km2.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
"The renewal of six of our prospecting licences and the issue of one additional licence by the Department of Mines enables Kavango to plan a substantial work program across its portfolio, as well as advance discussions with potential partners.
Securing the six Kalahari Suture Zone licences is particularly important, as it confirm Kavango's strategic hold over this large-scale nickel/copper exploration project.
With its strategically significant mineral rights package, Kavango is well placed to become a major player in the Botswanan metals' exploration space. We look forward to advancing our projects and making significant discoveries over the coming years."
Details of licences issued
Kavango Minerals (Pty) Ltd
Project | Licence No. | New expiry date | New area (sq.km) | Comment |
KSZ | 509/2014 | 30/9/24 | 413 | Renewal |
KSZ | 510/2014 | 30/9/24 | 499 | Renewal |
KSZ | 155/2016 | 30/9/24 | 491 | Renewal |
KSZ | 156/2016 | 30/9/24 | 491 | Renewal |
KSZ | 157/2016 | 30/9/24 | 391 | Renewal |
KSZ | 062/2022 | 30/9/25 | 73 | New licence |
Kanye Resources (Pty) Ltd
Project | Licence No. | New expiry date | New area (sq.km) | Comment |
Ditau | 010/2019 | 30/9/24 | 459 | Renewal* |
*In compliance with the Botswana Minerals Act, PL 010/2019 includes 50% relinquishment due on first renewal
The resulting total areas that Kavango's subsidiaries have rights to are as below:
Project | Total area (sq.km) | Comment |
KSZ | 8,323.1 | 100% owned by Kavango |
KCB (1,2) | 5,065.5 | See footnote |
Ditau (2) | 927.4 | See footnote |
TOTAL | 14,316 |
1) Includes 2 x licences that are the subject of 90% earn in with LVR Geoexplorers (Pty) Ltd.2) Kavango currently owns a 50% working interest in 10 prospecting licences held in a Joint Venture vehicle (Kanye Resources) with Power Metal Resources (LSE:POW), and has agreed to acquire 100%. Terms of the acquisition are provided in the announcement dated 8 July 2022.
('KSZ': Kalahari Suture Zone; 'KCB': Kalahari Copper Belt)