Kanye Resources, a 50:50 joint venture between Kavango Resources PLC (LSE:KAV) and Power Metal Resources PLC (AIM:POW, FRA:2M5), has completed the acquisition of eight new prospecting licences in the Kalahari Copper Belt in Botswana for a total consideration of US$430,000.
Kanye already owns the South Ghanzi copper exploration project and the Ditau Camp rare earth elements project. Kavango is the operator of Kanye.
Kanye now controls 4,257 square kilometres of exploration ground in its search for major copper/silver deposits.
"The acquisition of the South Ghanzi Extension and Mamuno licences immediately quadruples Kanye Resources' land holding in the burgeoning Kalahari Copper Belt,” said Ben Turney, chief executive of Kavango Resources.
“While our ongoing drill campaign in the Kalahari Suture Zone continues to attract the most headlines, our interests in the KCB could prove to be company makers in their own right, both for Power Metal Resources and Kavango.”