JV Partner Sought for Kalahari Copper Belt
Kavango Resources PLC is seeking a joint venture partner for its 6,200km² Kalahari Copper Belt mineral portfolio in Botswana, which is strategically located near MMG's and Sandfire's copper-silver mines. Diamond drilling at the Karakubis prospect has intersected copper mineralisation in all seven initial holes, with spot readings exceeding 1% copper and showing significant hydrothermal alteration. Regional geophysics and structural interpretation further support the potential for major deposits within the belt. The company has stated that this process is in its early stages and there is no certainty of a transaction.
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Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa focused metals exploration and gold production company, announces that it is evaluating strategic options in relation to its Kalahari Copper Belt ("KCB") mineral portfolio in Botswana. This process is at an early stage and there is no certainty that it will result in a transaction, nor on the terms or timing of any potential deal.
Kavango's KCB portfolio comprises a contiguous 6,200km² licence position, located on-strike from MMG's Khoemacau and Sandfire's Motheo copper-silver mines. Diamond drilling at the Karakubis prospect has already intersected copper mineralisation in all seven initial drill holes, supported by spot pxrf readings in excess of 1% copper and evidence of significant hydrothermal alteration. Regional geophysics and structural interpretation indicate favourable folding and D'Kar-Ngwako Pan contact zones consistent with major deposits elsewhere in the Belt.
The Company will update shareholders as appropriate.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.