Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said its five prospecting licences in the Kalahari Suture Zone (KSZ) and one at the Ditau project have been renewed and it has also been awarded a new prospecting licence in the KSZ.
"The renewal of six of our prospecting licences and the issue of one additional licence by the Department of Mines enables Kavango to plan a substantial work program across its portfolio, as well as advance discussions with potential partners,” said Kavango chief executive Ben Turney in a statement.
“Securing the six Kalahari Suture Zone licences is particularly important, as it confirm Kavango's strategic hold over this large-scale nickel/copper exploration project," he added.
The metals exploration company’s total mineral rights in Botswana now cover 14,316 square kilometres (km2), of which 8,323.1km2 in the KSZ are 100% owned by Kavango.
Last month, Kavango announced that it had hired a financial adviser to lead its search for potential partners to develop the large-scale KSZ project.
READ: Kavango Resources seeks partners for KSZ project in Botswana
Kavango is the operator of the Ditau project, a 50:50 joint venture with Power Metal Resources PLC, and recently agreed to acquire 100% of the project.
Kavango's shares in London were up 3.8% at 1.71p in early trading.