Kavango Resources PLC said Friday that an independent report on its iron oxide copper-gold, or IOCG, target in Botswana confirmed that it would be economically viable.
The London-listed mining company said the report concluded that should enough mineralisation of sufficient grade be discovered, the target would be viable at depths up to 2 kilometers (1.2 miles) below the surface.
The company said the IOCG target showed similar geophysical features to the Olympic Dam IOCG ore-deposit it owns and operates in Australia. Kavango said it plans to release an exploration plan for the target in the coming weeks.
“We are very pleased with the results of the report and Kavango will continue further exploration of the IOCG Target, with a view to vectoring in on specific drill targets,” Chief Executive Ben Turney said.
By Anthony O. Goriainoff
