ASX- and Aim-listed MOD Resources reported on Friday that all its prospecting licences across the joint venture (JV) landholdings in the Botswana copperbelt have been granted two-year extensions.
Additionally, a new licence has been issued for three years.
The licence extensions were granted ahead of their expiry date on December 31.
The licences jointly cover 8 163 km2 along the Kalahari copperbelt. The extensions provide certainty of title for the T3 copper project and surrounding expansion project.
All JV prospecting licences have been transferred to the JV in-country exploration company Tshukudu Exploration, which is a subsidiary of UK-incorporated JV company Metal Capital Exploration, owned 70% by MOD and 30% by Aim-listed Metal Tiger.
“The extension of our prospecting licences is a major milestone for MOD as we explore and potentially develop the many copper targets on our extensive licence holdings.
“Recent exploration has been very successful with copper found in almost every drill hole across the previously underexplored Central Structural Corridor within this highly prospective region,” commented MOD MD Julian Hanna.