BOTS – KCB landmark drill contract signed

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce that it is has placed a drill contract for the first phase of stratigraphic drilling on the Kalahari Copper Belt (KCB) Karakubis Project.

Highlights

• Contract placed for first phase of 5,000m diamond core drilling on the Karakubis Project tenements in western Botswana.
• Program comprises 10-15 holes and is expected to commence in June 2024.
• Contractor is Mitchell Drilling Botswana (Pty) Ltd ('Mitchell'), who have completed multiple successful diamond drilling programs in the KCB for other clients.
• Mitchell is a subsidiary of Mitchell Drilling International, a contractor who have drilled over 5 million metres for mineral exploration across the world.
• Drilling is designed to test stratigraphic position and structural features interpreted from heliborne electromagnetic (AEM) survey, previously reported (>>> 2 April 2024).
• Drilling aims to follow up:
• Targets previously identified by a combination of historic AEM, and Induced Polarisation (IP) surveys, and geological interpretation on the recently acquired ENRG licences that were never drill tested, and;
• New targets being generated from interpretation of Kavango's AEM, magnetic and gravity survey flown in December 2023 and January 2024.
• Drilling expected to last four months and will be undertaken in a phased programme starting with one rig and scaled up to two rigs drilling day and night shifts.

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

"This is Kavango's best prepared and most important drill campaign. We are pursuing large-scale copper targets in the Kalahari Copper Belt. Our primary objective is to prove a copper mineralising system exists in our Karakubis licences. If we are successful, this will be transformational for our business.

We look forward to working with Mitchell to deliver a rapid drill program to test the structures and trap zones our team has identified. This program will be delivered quickly, starting with one rig and quickly scaling up to a second rig. We expect to complete drilling within 4 months.

While there are no guarantees in exploration, the work our team has done maximises our chances of success. We enter this landmark drill campaign with a sense of growing optimism."