LONDON Stock Exchange (LSE) listed minerals exploration miner, Kavango Resources PLC is set to bag six mining concessions in Botswana in a move set to bolster the reputable concern’s portfolio.
The miner currently sitting on assets in Botswana and Zimbabwe revealed intentions to acquire a 90% working interest in the licences located in Botswana’s Kalahari Copper Belt.
Information disseminated revealed that the licenses to be acquired are adjacent to both its Karakubis Block near the Namibian border and its South Ghanzi block in the Kalahari belt effectively exposing the miner to a lucrative hold of a contiguous exploration area.
Speaking on the latest deals, Kavango CEO Ben Turney said the miner’s goal is to identify good targets to pursue early next year.
“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 will push ahead in the [Kalahari Copper Belt], 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,” he said.
The miner revealed plans to test licences in both the Karakubis block and the licence areas that are to be acquired, as it believes three of the licences could cover a single system containing domal structures, which are “key exploration targets in the search for large-scale copper/silver mineralisation”.
Kavango shares rose 15% to 0.69 pence each on Monday morning in London. – (NewZimbabwe)