(Ten licences held through Kanye Resources)
Kavango – 100%
(Two licences held through LVR JV) Kavango Resources – 90% LVR GeoExplorers – 10%
Kavango has also entered a share purchase agreement with Global Exploration Technologies (Pty) Limited (“GET”) on 22 September 2023 that gives it the right to acquire a 90% interest in a further six PLs totalling approximately 2,629km2, held through Ashmead Holdings Proprietary Limited (“Ashmead”) and Icon-Trading Company Proprietary Limited (“Icon”). These licences are additional to the totals above.
Sediment hosted copper-silver
The Kalahari Copper Belt (“KCB”) stretches 1,000km from northeast Botswana into Namibia and has become a focal point for the discovery of sediment-hosted copper deposits. These can form orebodies that compete with copper porphyry deposits on tonnage but are usually of a much higher grade.
Kavango has secured a large underexplored KCB land package near projects being developed by Cupric Canyon, and Sandfire Resources.
The Company’s priority focus is the Karakubis Project, which spans four licences close to the Namibian border.
Karakubis lies adjacent to large landholdings held by Sandfire Resources to the north and Rio Tinto to the West in Namibia. It is also immediately along strike from Ghanzi West, where ENRG Elements has identified similar geological signatures to Sandfire’s Motheo Copper Mine.
A recent review by David Catterall, a leading expert on the KCB’s geology and exploration, identified the previously unrecognised presence of nearer surface D’Kar rock beneath the ground at the Karakubis Project.
D’Kar lithologies typically overly the Ngwako Pan Formation in the KCB. Zones where the two formations meet are recognised as a primary regional control of copper/silver mineralisation in the region.
Kavango's preliminary interpretation of its Controlled Source Audio Magnetotelluric ("CSAMT") survey data from the Karakubis Project area suggests the potential presence of D'Kar/Ngwako Pan Formation contact at moderate depths. This would be comparable to the setting of Sandfire’s A4 and T3 deposits. Kavango is working to confirm this contact at the projected depth.
Alongside this, inversion sections from Airborne Electromagnetic ("AEM") surveys completed over the Karakubis Project indicate abundant, tightly folded rocks. Mr Catterall has concluded that this setting could have helped to bring the D'Kar/Ngwako Pan horizon contact closer to surface while creating suitable structural traps for mineralisation.
Similar structures are also understood from public domain information to be abundant on ENRG Elements' Ghanzi West project.
In parallel to Mr Catterall's work, Kavango director Jeremy Brett has completed a review of satellite gravity data over the Karakubis Project. He has interpreted a possible "basin margin" running through the Project into ENRG Elements' neighbouring licences. Basin margins are located on the edges of sedimentary basins like the KCB, and can have provided favourable conduits for hydrothermal fluids containing metallic elements.
Kavango’s KCB licence package following recent acquisition of ENRG Elements’ six licences
Kavango is currently finalising the interpretation of its AEM and CSAMT survey data for the Karakubis Project. It is also completing in-depth analysis, combining the two geophysical data sets with recent reconnaissance geological field mapping. This will be integrated with existing geochemical data.
Kavango will use the data sets to improve its understanding of the Karakubis Project’s underlying geological structure and metal potential. The most favourable areas, exhibiting similar geological controls to economic copper/silver deposits elsewhere on the KCB, will be prioritised for IP surveys.