- Kavango Resources said drilling would commence on two 'proof of concept' geological holes in June in the northern section of the Kalahari Suture Zone in Botswana.

Mindea Exploration and Drilling Services had agreed to accept payment for the drill contract half in cash and half in Kavango stock at an issue price of 4.53p per share.

'The company anticipates that drill-core from these holes will provide firm physical evidence of the KSZ's potential to host 'Norilsk-style' metal sulphide deposits,' the company said.

The company said it had a budget in place for more extensive drilling campaign later in 2021.

'We believe core samples from the bottom of the gabbroic "keels" could provide us with the definitive proof we have been looking for that the KSZ could host one or more major deposits of nickel, copper and platinum group metals,' it added.

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