Source - Alliance News

Kavango Resources PLC on Friday said that it is tendering for the first phase of scope drilling on the Kalahari copper belt at its Karakubis project in Botswana.

The Botswana and Zimbabwe-focused exploration company said the first phase of the planned 500 meter drilling will target the shallower Kara Anticline’s potential to be a copper mineralising system.

In addition, Kavango said the drilling will follow up on the targets previously identified by a combination of historic airborne electro magnetic and induced polarisation surveys, and geological interpretation on recently acquired licences that were never drill tested.

Drilling is expected to last four months, Kavango added.

Chief Executive Officer Ben Turney said: ‘We are moving quickly towards drilling in the Kalahari Copper Belt. This is the most rigorous and promising exploration programme Kavango has conducted in Botswana. We have a high degree of confidence in the targets areas we’ve identified and our interpretation of the structural geology.

We are in the process of finalising specific drill targets and have moved ahead with tendering for the drill contract, in anticipation of commencing drilling as soon as we have decided on collar locations.

As in Zimbabwe, our team in Botswana has responded well to the improvements we’ve made in the Company and is delivering strong performance in the field. We look forward to providing a more detailed update on drill targets in the near future.’

Shares in Kavango were down 4.8% at 1.00 pence each in London on Friday morning.

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Kavango Resources PLC (KAV)

0p (0.00%)
delayed 16:15PM