Kavango Resources PLC has renewed six prospecting licenses and further acquired new ones in Botswana.
The licences awarded by the country’s Department of Mines, are in the Kalahari Suture Zone, and one renewal was at the Ditau project. The company’s total mineral rights in Botswana now cover 14,316 square kilometers.
According to the firm, securing of the licenses will allow the company to plan a substantial work program across it portfolio and advance discussions with customers. The six licenses in the Kalahari Suture Zone are particularly important, confirming its hold over the copper and nickel project.
“With its strategically significant mineral-rights package, Kavango is well placed to become a major player in the Botswanan metals’ exploration space,” Chief Executive Ben Turney said.
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. The Company focuses on the development of copper, nickel, and PGE metal properties. Kavango Resources serves customers in Southern Africa and United Kingdom. At Admission on 31 July 2018 it raised gross proceeds of £1.5m.
The Company’s segments are Exploration (Botswana), and Corporate (London and Mauritius). The Exploration (Botswana) segment includes all Botswana licenses in which the Group has an economic interest, including those held in the Kanye JV.
The Corporate (London and Mauritius) segment includes the holding and intermediate holding companies’ costs in respect of managing the Group. It is exploring three projects in Botswana: the Kalahari Suture Zone Project (KSZ) for Copper-Nickel, Platinum Group Metal (PGM) deposits; the Kalahari Copperbelt Project (KCB) for Copper-Silver deposits; and the Ditau Project for Copper and rare earths.
The KSZ is located in Southwestern Botswana, targeting magmatic Sulfide deposits. The KCB is located in Northeast Botswana. The Ditau prospecting licenses cover approximately 1,386 square kilometers in southwest Botswana.