Kavango Resources seeking JV partner for Kalahari portfolio

(Sharecast News) - UK and Zimbabwe-listed miner Kavango Resources said it is seeking a joint venture partner for its Kalahari Copper Belt mineral portfolio in Botswana. The firm, which is focused on metals exploration and gold production across Southern Africa, said it is "evaluating strategic options" in relation to its KCB interests, though the process remains at an early stage.

"The company will update shareholders as appropriate," Kavango said in a statement on Monday.

The KCB portfolio comprises a contiguous 6,200km² licence position, located on-strike from MMG's Khoemacau and Sandfire's Motheo copper-silver mines.

"Diamond drilling at the Karakubis prospect has already intersected copper mineralisation in all seven initial drill holes, supported by spot pxrf readings in excess of 1% copper and evidence of significant hydrothermal alteration," Kavango said.

"Regional geophysics and structural interpretation indicate favourable folding and D'Kar-Ngwako Pan contact zones consistent with major deposits elsewhere in the Belt."