Kavango Resources plc has completed its 90% stake in the LVR GeoExplorers (Pty) Ltd joint venture with copper-silver licences in the Kalahari copper belt, Botswana.
PROJECT
The company signed a memorandum of understanding in November 2021 and has now acquired the outstanding 65% to take the majority share in the JV.
The partners’ project incorporates prospecting licences PL082/2018 and PL083/2018, which lies near the Namibian border, both covering a total 809km2.
SCALE
Chief executive Ben Turney said that PL082 was one of the company’s most exciting and advanced opportunities.
“Located in the heart of the belt, this licence has two primary target areas that have returned significant in-soil copper anomalies, with a peak pXRF value of 118.8ppm copper.
“The Central Zone is 27km in strike length and the Northern Zone is 8km in strike, emphasising this project’s scale.”
“[In] PL083, sand cover has limited historic exploration, but with the strength of our in-house geophysics team we are working on some ground-breaking regional modelling that we expect to enable us to unlock previously unrecognised potential.
“We look forward to commencing drilling here in the near future.”