African Copper Receives Licence Renewal for Over 3,500sq km of Matsitama Exploration Property in Botswana
(MARKET WIRE)
Updated:
2007-09-18 14:30
Counter:
African Copper Plc ("African Copper" or the "Company") is pleased to announce that the exploration licence renewal application submitted by African Copper to the Botswana Geological Survey ("BGS") was accepted for the Matsitama Exploration Licences, adjacent to the Mowana Mine licences.
These four exploration licences (PL14/2004, 15/2004, 16/2004 and 17/2004), totalling 3,528 sq km (see Figure 1) represent approximately 88% of the original licence area granted in 2004 and allow African Copper to continue carrying out its aggressive exploration programs in the prospective Matsitama volcano-sedimentary fold belt. Including exploration licences surrounding the Mowana Mine, African Copper now maintains a land position of over 3,800 sq km in Botswana.
"We are very enthusiastic about the prospects for this licence area and are pleased that the BGS has allowed us to retain such a large percentage of the original land position," commented Joseph Hamilton, CEO. "This allows the Company to retain the best exploration targets in a contiguous package.
Systematic exploration programs continue throughout the belt. We are very encouraged by the results of our exploration and remain confident that our efforts will result in further mineralisation that may support our operations at the Mowana Mine."
|