Altona Rare Earths, a resource exploration and development business, has exercised its option to acquire the Sesana copper/silver property in Botswana.
The company signed a binding option agreement with Ignate African Minerals for prospecting licence PL2329/2023 (tenement) in Botswana.
This means that the company can get up to 85% of the tenement in exchange for cash, Altona shares, and promises to spend money on exploration.
The tenement is situated in the Kalahari Copper Belt, approximately 25 kilometres from the low-cost Khoemacau copper/silver underground mine.
According to Altona, a roughly 10-kilometre-long section of the contact between the D'Kar and Ngwako Pan formations traverses the northern portion of the tenement along the eastern edge of a fold structure.
This location is an ideal location for copper/silver mineralisation, as indicated by recent interpretation of regional airborne magnetic data.
“Altona and Ignate are now preparing the final agreement, which is expected to be signed shortly. Activities about environmental and administrative processes in Botswana have started, and plans are being made to start exploration activities in due course,” said Altona.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
