Power Metal Resources plc and 50-50 strategic joint venture (SJV) partner Kavango Resources, focused on Botswana, have set up holding companies.
SOUTH GHANZI
Kanye Resources Pty Ltd in Botswana (Kanye Botswana) and Kanye Resources Ltd in England (Kanye UK) could potentially be listed on a stock exchange.
The JV is exploring for potential large-scale copper-silver deposits at the South Ghanzi project in the Kalahari copper belt (KCB) and rare earths at the Ditau Camp in southwest Botswana.
Kavango this week signed a contract with airborne geophysical survey company, SkyTEM Surveys ApS (SkyTEM), to fly 1,173km of airborne electromagnetic (AEM) and magnetic (Mag) geophysics survey over South Ghanzi.
Power Metal said that AEM and Mag geophysics had helped other companies identify “significant copper mineralisation and copper deposits” in the KCB.
The AEM survey flights are due to start this month, while soil sampling and ground survey programmes continue.
The JV expects to start work soon on an environmental management plan (EMP) which, on approval, will allow drilling of key targets subject to positive exploration.
The South Ghanzi project includes two prospecting licences in the KCB (PL036/2020 and PL037/2020) covering an area of 1,294 km2.
The area covers lengthy geological reduction-oxidation (redox) boundaries, close to surface, that represent prospective exploration targets.
Power Metal chief executive Paul Johnson added that both partners were eager to push ahead with ground exploration in the KCB.
“There is a sense across the SJV team that the South Ghanzi project is shaping up rather well with each step forward.
“Having seen the benefits of a major discovery in the KCB previously, I am personally keen that we continue to push on at pace.”
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