(Ecofin Agency) - Last weekend, Cradle Arc announced that its PL33/2005 and PL180/2008 prospecting permits in Botswana have been renewed for two years. This renewal follows a request submitted in January 2018 to the minister of minerals, energy and water resources.
The company indicates that provided funding is available, it will carry on with the geophysical surveys realized by the former operators of one of the areas covered by these permits. It will then proceed to a drilling program to prove the mineralization of known structures.
“Gaining renewed access to this vast piece of additional exploration ground is an exciting result for the company. Historical regional geophysics show that the shear zone passes through both of the renewed permits, and the board believes that the likelihood of the structure continuing to be mineralised is very high”, Kevin van Wouw, Cradle Arc’s Chief Executive Officer said.
Mowana mine hosts existing measured and indicated mining resources estimated at 640,000 tons of copper and an inferred mineral resource estimated at 220,000 tons. Its exploitation restarted in 2017.