PROJECTS
Botswana Copper Projects
Kalahari Copper Belt, Botsawana
Overview
The Botswana Copper Projects are located in the emerging world class Kalahari Copper Belt of Botswana, one of the most prospective copper belts in the world, which hosts Sandfire Resources' Motheo Copper Mine and Khoemacau Copper Mining’s Zone 5 underground mine.
The Botswana Copper Projects are made up of the Virgo Project and Ghanzi-West Project.
Virgo Project
The Virgo Project, comprises two prospecting licences (PL 135/2017 & PL 162/2017) and covers an area of over 210km2. The Virgo licenses lie within close proximity of larger discoveries, and in particular within 10km and 50km of the Zone 5 and Banana Zone copper projects, respectively, which are known as the two largest copper projects on the Kalahari Copper Belt.
As announced on the ASX on 25 March 2021, ENRG Elements Ltd (formerly Kopore Metals Ltd) executed a binding term sheet with ARC Minerals Limited (AIM:ARCM) (ARC) to assist with ongoing exploration at the Company’s Virgo Project in the Republic of Botswana (Transaction)1.
Pursuant to the terms of the Transaction, the Company agreed to sell 75% of the issued capital in its wholly owned subsidiary company, Alvis-Crest (Proprietary) Limited (Alvis) to ARC.
On 26 July 2021, ENRG Elements Ltd announced that it had satisfied key conditions precedent to the Transaction by entering a binding shareholders agreement and royalty deed with ARC. Closing of the transaction proceeded following receipt of Ministerial approval in Botswana, resulting in ENRG Elements retaining a 25% interest in the Virgo Project.
To view ARC’s recent announcements, please click here.
(1) ASX Release: Virgo Project Transaction With Arc Minerals - 25 March 2021
Ghanzi-West Project
The Ghanzi-West Project, comprises six prospecting licences (PL127/2017, PL128/2017, PL129/2017, PL203/2016, PL204/2016 and PL205/2016) covers a total area of 2,630km2. The Prospecting Licences over the Kara Antiform at the Ghanzi-West Project are located along strike of Sandfire’s T3 and A4 copper-silver Deposits and the Khoemacau Zone 5 mine. Cobre Limited’s (ASX:CBE) recent Ngami Copper Project discovery, also in the Kalahari Copper Belt, is located approximately 170km north-east of the tenements.
As announced on the ASX on 25 September 2023, ENRG Elements Ltd executed a binding agreement with Kavango Resources Plc2.
Pursuant to the terms of the transaction, the Company agreed to sell 90% of the issued capital in its wholly owned subsidiaries Icon Trading Company (Pty) Ltd and Ashmead Holdings (Pty) Ltd.
On the 16 November 2023, ENRG Elements Ltd announced that the conditions precedent for the transaction had been met and the sale had been completed, resulting in ENRG Elements Ltd retaining a 10% interest in the Ghanzi-West Project.
To view Kavango’s recent announcements, please click here.
(2) ASX Release: Binding Agreements executed for sale of Ghanzi-West Project - 25 September 2023
Map of The Botswana Copper Projects within the Kalahari Copper Belt, Botswana
