The Nara Project is located in the Matabeleland South area near the Zimbabwean city of Bulawayo. The licences are hosted in a package of metasediments and intersected by a regional shear zone with >4km of strike potential.

Nara covers four historic underground mines with a total recorded production of 92,000oz gold. The average grade of ore mined was 9.76g/t. These historic mines also produced credits of tungsten and silver.

The Project has also supported continuous surface small-scale mining and custom milling over the last 30 years. This has generated an estimated 150,000 to 250,000 tonnes of tailings, which present an opportunity for potential near-term revenue generation.

Schematic of historic underground mine workings at Nara

Given its size, regional geological setting, high-grade underground potential, and sustained small-scale mining activity, Kavango believes the Nara Project holds considerable prospective potential for a modern commercial bulk mining gold operation.

The Company has entered a two-year exclusive binding option to buy all 45 of the claims covering the property. It is now completing a due diligence exploration programme that will include but not necessarily be limited to:

• Surveying historical tailings
• Assessing the historic mine shaft and possible underground drilling and channel sampling (subject to safety)
• Soil geochemical surveying along the strike extent
• Scout drilling to test artisanal workings/shafts
• Other drilling and surveying, as budget permits