Southern Africa-focussed metals explorer Kavango Resources has completed its strategic review, which was undertaken to provide a detailed analysis of the company’s current projects, its operations in Botswana, its commodity focus, opportunities for regional expansion and outline the swiftest path to delivering a maiden economic resource.

CEO Ben Turney says the company has established a team that is ready to make economic metal discoveries.

“In the last four months, we have completed a major strategic financing at Kavango, strengthened our board and significantly sharpened our technical capabilities.”

He adds that Kavango has developed innovative methods for using modern surveying technologies and has recruited expert exploration geologists to guide its programmes.

“It is vital that we now build on this strong foundation by delivering success in the field. [The] strategic update describes how we intend to achieve this,” he says.

In terms of exploration in Botswana, the strategic review sets out Kavango’s technical team executing the company’s updated exploration plan, with the support of external expert exploration geologists.

Over the course of this year, Kavango will conduct focused exploration on the Great Red Spot (GRS) in the Kalahari Suture Zone (KSZ), which will include drilling the B Conductors.

Kavango will also continue further fieldwork and drilling in the Kalahari Copper Belt (KCB) across its Karakubis block and investigate the iron-oxide/copper/gold model for the GRS and the precious metal potential at Ditau.

As for project financing in Botswana, the strategic review details how Kavango’s commercial team will seek direct project funding to finance two-year exploration programmes for the company's KSZ, KCB and Ditau projects.

Kavango has advanced all three projects to the point where direct finance will enable the company to pursue more extensive exploration. Expanded exploration programmes will include more widespread surveying (geophysical and geochemical), sharper targeting and extensive drilling.

Kavango believes securing one or more project finance partners will significantly increase the chances of success in Botswana.

The strategic review also looks into portfolio expansion, whereby Kavango will seek to acquire prospective metal exploration projects, with the potential for near-term economic discoveries, in Southern Africa.

Following completion of its strategic financing in the fourth quarter of 2022, Kavango says it is well-positioned to take advantage of liquidity weakness in the global exploration sector.

The company has put together a skilled exploration team, built a strong regional presence in Botswana and identified a pipeline of possible acquisition targets. Kavango has been evaluating a number of these opportunities and is at advanced stages of due diligence for two possible acquisitions.