Kavango weighs JV options for Botswana copper ground
Exploration company Kavango Resources has begun evaluating strategic options for its interests in Botswana’s highly prospective Kalahari Copper Belt, including the potential introduction of a joint venture (JV) partner.
The London- and Victoria Falls-listed junior said on Monday that the review of its Kalahari Copper Belt portfolio was at an early stage, with no certainty that it would result in a transaction, or on the timing and terms of any potential deal.
Kavango’s copper portfolio in Botswana comprises a contiguous licence position covering about 6 200 km2, located along strike from MMG’s Khoemacau copper mine and Sandfire Resources’ Motheo copper/silver operation. Both projects are among the most significant recent copper developments in the Kalahari Copper Belt.
Exploration work to date has delivered encouraging early results. At the Karakubis prospect, diamond drilling intersected copper mineralisation in all seven initial drill holes. Kavango reported spot portable XRF readings of more than 1% copper, alongside evidence of extensive hydrothermal alteration.
The company said regional geophysical data and structural interpretation pointed to favourable folding and contact zones between the D’Kar and Ngwako Pan formations, geological settings that are associated with major copper deposits elsewhere in the belt.
