Kavango Resources says extensive copper/silver targets identified on LVR joint venture
Kavango Resources PLC (LON:KAV) said extensive copper/silver targets have been identified on two prospecting licences at the LVR joint venture project in the Kalahari Copper Belt.
The licences – 082/2018 and 083/2018 – are jointly held with LVR GeoExplorers Ltd.
Kavango, which has the right to acquire a 90% interest in the licences through staged exploration spending commitments, said its stake in the LVR project is 25% now that Stage 1 of the LVR farm-in is complete.
The targets were detected as a result of recent Airborne EM (AEM) surveys flown over the project.
Strong soil geochemical anomalies occur at surface above the targets, Kavango said.
“The Airborne EM surveys have produced compelling justification for Kavango’s strategy in the Kalahari Copper Belt,” said chief executive Michael Foster. “We are confident we have identified copper mineralised systems, which we now have to test through drilling.”
“The company’s integrated exploration approach, combining soil geochemistry, stratigraphical and structural mapping together with geophysical surveying is proving to be highly effective.
“A program of trenching on PL082/2018 and additional soil geochemistry on PL083/2018 is planned prior to a drill program later in the year,” he said.