Serval Botswana exploration license renewals completed, area adjusted to approximately 990 km²

en.Wedoany.com Reported - On September 4, Serval Resources confirmed that Botswana's Department of Mines has completed the renewal of the company's latest batch of four exploration licenses, including PL 061/2021, PL 062/2021, PL 2473/2023, and PL 2474/2023, with all validity periods extended to September 30, 2028. With this, all exploration licenses held by Serval in Botswana have now completed their current renewal cycle. The company has simultaneously relinquished the lower-priority PL 2472/2023 license.

Following this adjustment, Serval's exploration license area in the Kalahari Copper Belt has been reduced from the previous 1,283 km² to 990.93 km². The company currently holds 17 exploration licenses in the region, of which the renewed PL 061, PL 062, PL 2473, and PL 2474 cover areas of 99.12, 42.11, 112.36, and 35.41 km², respectively; the remaining licenses have validity periods ranging from end-2026 to March 2028.

Among these renewals, PL 2474/2023 is one of Serval's key retained licenses, which, together with PL 0235/2024 covering 7.06 km², constitutes the Sweet Thorn Pan exploration area. Based on historical exploration data, the company has confirmed that within PL 2474 there is a known mineralized contact zone corresponding to the mineralization system currently being mined at the nearby Khoemacau copper mine operated by MMG. Following the renewal of PL 2474, the company retains all priority exploration areas previously delineated within Sweet Thorn Pan.

Serval has conducted multiple rounds of geophysical work in the Kalahari Copper Belt this year. The ground geophysical survey on PL 061 completed 121 line-km across 84 survey lines, and the results identified areas potentially corresponding to the contact zone between the Ngwako Pan Formation and the D'Kar Formation, which the company has prioritized for subsequent copper-silver exploration. Magnetic, transient electromagnetic, and magnetotelluric surveys previously completed on PL 082 and PL 231 have further delineated stratigraphic contact zones and structural targets, with an anticlinal structure identified in the northern part of PL 231 that has been included in future exploration areas.

Serval's Botswana exploration program announced in June this year is primarily focused on the PL 232 and PL 235 license groups, employing a combination of high-resolution magnetic, audio-frequency magnetotelluric, and soil sampling methods to further delineate the Ngwako Pan Formation and D'Kar Formation contact zone and potential sulfide conductive anomalies. The related work program is scheduled to continue until mid-2027 and is currently still in the geophysical, geochemical survey, and drill target screening phase, with no mineral resources yet defined.