Kavango Resources PLC has identified 12 targets prospective for rare earth elements or base and precious metals at its Ditau project in Botswana. The mining company is now starting a drilling program to test three of the targets with up to two holes in each.
“Our primary objective is to confirm whether one or more of the ring structures/intrusives we’ve identified are carbonatites with potential for rare earth elements, or mafic intrusives potentially hosting base/precious metals,” said Chief Executive Ben Turney.
The project is held by a 50/50 joint venture of Kavango and Power Metal Resources PLC. Kavango is a mineral exploration company focused within mining friendly Botswana. Its shares are listed on the London Stock Exchange (Standard List) with ticker KAV.L. At Admission on 31 July 2018 it raised gross proceeds of £1.5m.
The Company focuses on the development of copper, nickel, and PGE metal properties. Kavango Resources serves customers in Southern Africa and United Kingdom. Over the past half-century political stability, good governance and prudent economic and natural resource management have helped Botswana to secure robust economic growth, supported by the discovery of diamonds.
The economy is dominated by mining, tourism and livestock. Having been one of the poorest countries in Africa, with a GDP per capita of approximately US$70 in the late 1960s, Botswana is now an upper-middle income country and, in 2015, Botswana’s gross domestic product was approximately US$18,825 per capita, one of the highest in Africa. Its relatively high gross national income (by some estimates the fourth-largest in Africa) gives the country a modest standard of living and the highest Human Development Index of continental Sub-Saharan Africa.