LONDON, UK: Kavango Resources plc (LSE:KAV), a metals exploration company focused on Southern Africa, has announced that it has agreed to acquire a 90% working interest in six Prospecting Licences (PLs) in Botswana’s Kalahari Copper Belt (KCB) from Global Exploration Technologies (Pty) Limited (GET), a subsidiary of ENRG Elements (ASX:ENRG).
The PLs are located next to Kavango’s existing Karakubis Block near the Namibian border, which is the priority area for its KCB exploration programme. The PLs also connect with Kavango’s South Ghanzi block in the KCB, creating a single, continuous project area for the company to explore.
Kavango is especially interested in testing the potential of three PLs that cover a regional system with dome-shaped structures, which are key targets for finding large-scale copper/silver deposits. These PLs are PL049/2020 and PL052/2020 in the Karakubis Block and PL203/2016 in the area to be acquired.
Ben Turney, CEO of Kavango Resources, said:
“The new licences join up our Karakubis and South Ghanzi blocks, providing us with a contiguous, highly prospective system to explore along strike from major discoveries such as Sandfire Resources’ T3 deposit and Khoemacau Copper Mining’s Zone 5 deposit.
We now have uninterrupted control of the single system in this portion of the Kalahari Copper Belt. We believe today’s acquisition significantly increases our chances of making a discovery here. We will push ahead in the KCB, by reviewing exploration data for the new licence areas and the results of our recently completed IP surveys at the Karakubis project area. Our goal is to identify high-confidence drill targets to pursue in Q1 next year.
With completion of the Purebond financing imminent, we are in an extremely strong position to execute our ambitious plans.”