LSE-listed Kavango Resources has been granted two prospecting licences (PLs) in the Botswana section of the highly prospective Kalahari Copper Belt (KCB).
The two new PLs are located directly to the southwest of Sandfire Resource's T3 and A4 Dome copper/silver discoveries.
The PLs have been granted for an initial three-year term, which may be extended to a maximum of seven years.
Kavango has a combined year one work commitment of £75 000.
The new PLs increase the company’s exposure to the KCB following the joint venture agreement with LVR GeoExplorers on two strategically located licences announced in February.
The KCB is a key emerging exploration province for major sedimentary copper/silver deposits.
The acquisition of further licences is under way.
"We are delighted to have secured these two new prospecting licences. It is thanks to our in-country presence and knowledge that Kavango has been able to add to its portfolio of strategic exploration assets in the highly prospective KCB.
"Given the positioning of these two new licences, in such close proximity to major copper/silver discoveries, we are eager to commence exploration here as lockdown restrictions are loosened in Botswana,” says Kavango CEO Michael Foster.
Kavango is in the process of building a strategic portfolio of exploration licences in the KCB.