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(Alliance News) - Botswana-focused metals exploration company Kavango Resources PLC on Monday said it has acquired a new prospecting licence adjacent to the current Ditau zinc and sulphide licence.
The new licence covers an area of 916.4 square kilometers to the south west of the current Ditau licence. It includes the extensions of the Ditau geological and geophysical structures that have potential for base metal mineralization.
"We believe that this new licence could be instrumental in the farming-out of this project to an industry partner. This is currently Kavango's preferred option. Our main focus remains the Kalahari Suture Zone structure in southwest Botswana where drilling is expected to commence later this quarter," said Chief Executive Michael Foster.
Shares in Kavango Resources were up 7.1% at 3.75 pence each on Monday afternoon.
