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Kavango receive top copper priority

21 February 2023 12:37
LSE: KAV

Kavango Resources have raised Karakubis to its top priority after a key recommendation it should immediately focus exploration efforts on the copper project resting in the Botswanan end of the Kalahari Copper Belt.

It adds further allure to a project adjacent to the large landholdings of global mining groups.

The key recommendation comes from a Tulia Blueclay Limited report focused on improving drill target selection and mentoring the ground team, led by local consultant Dave Catterall, whose extensive experience of exploration in the belt has significantly enhanced Kavango’s understanding of the region.

With expansive territory belonging to Sandfire Resources to the north and Rio Tinto to the west, Karakubis is immediately along strike of a Ghanzi West project where ENRG Elements have identified similar geological signatures to Sandfire’s Motheo Copper Mine, where work is underway to begin processing an initial 3.2 million tonnes per year.

The company said Dave Catterall’s influence on its Kalhari Copper Belt exploration had been both instant and meaningful.

“Successful exploration in the Belt is challenging. Kavango has a large land package and Dave’s successful introduction has encouraged us to refocus our efforts on our prospective Karakubis project area,” chief executive Ben Turney said.

“It is particularly promising that CSAMT and AEM data we have gathered independently appears to align with Dave’s regional geological interpretation. Historically, Kavango has dedicated more energy to other of its prospecting licences. While we will continue to advance work on these (PLs 082 and 036 in particular), Karakubis is now our main centre of attention.

“We now recognise that the Karakubis licences represent our greatest opportunity for the near-term detection of a metal bearing alteration system.”

KAV’s London Stock Exchange-listed share price is currently trading at 1.01 British Pence (12.36 pm UTC+ 8 hours).

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