Kavango s exploration licenses in the KCB include:
The South Ghanzi Project - 50% working interests in prospecting licenses PL036/2020 and PL037/2020, to be held in a Joint Venture with Power Metal Resources (LSE:POW) (announced 21 September), which cover 1,294km
2
The LVR Project - Earning in a 90% interest in prospecting licenses PL082/2018 & PL 083/2018, held in a Joint Venture with LVR GeoExplorers (Pty) Ltd ( LVR ), which cover 1,091km
2
THE SOUTH GHANZI PROJECT GEOLOGICAL SETTING
The South Ghanzi Project and LVR Project areas include lengthy redox boundaries, close to surface, that represent excellent exploration targets.
The redox boundaries were formed several hundred million years ago in active sedimentary basins flooded by shallow seas. Organic matter accumulating on the sea floor created anoxic conditions, which formed a chemical barrier to metal ions rising upwards through the sediments as the basin subsided
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IN BRIEF: Power Metal Resources To Pay USD150,000 Into Kavango JV
Wed, 6th Jan 2021 19:11
Kavango Resources PLC - London-headquartered metals exploration firm - Says Power Metal Resources PLC has elected to pay in full its initial USD150,000 cash contribution towards exploration into their strategic joint venture. This is one year ahead of schedule. The purpose of payment is to accelerate progress across the SJV s prospecting licences in both the South Ghanzi Project on the Kalahari Copper Belt and the Ditau Project in Botswana.
Kavango Chief Executive Officer Michael Foster says: This early payment by Power Metals reflects the rapid progress we are making at South Ghanzi and Ditau. Initial results from both projects have been encouraging and we will now bring forward plans for more extensive and intensive exploration. If results continue to impress, this will put us on a quicker path to exploratory drilling later this year.