Kavango Resources PLC - London-based, Botswana-focused metals exploration company - Commences drilling its first high-priority targets at the Karakubis Copper Project in the Kalahari Copper Belt, which runs from northeast Botswana to western Namibia. Company identifies 15 high-priority targets for this first phase, ‘all located above interpreted, doubly-plunging fold structures over gravity highs where associated faulting is thought to be favourable for trap site development’. Says drill holes are designed to check favourable trap sites; to confirm stratigraphy; and assess the potential for large-scale copper and silver mineralisation. Kavango expects to identify further targets as it completes data processing for the first survey results.
Chief Executive Officer Ben Turney says: ‘This is the most sophisticated drill campaign ever undertaken by Kavango...Assembling the first 15 high priority drill targets has been a superb team effort and we are confident in the work we’ve completed.’
He continues: ‘Our immediate objective now is to test these probable trap sites and prove that copper mineralising fluids passed through our ground. If we can achieve this it will be a transformational event for Kavango’s shareholders.’
Current stock price: 1.41 pence, up 4.2% on Monday afternoon in London
12-month change: up 4.2%
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