Large Copper License Package Renewed in Namibia

Large Copper License Package Renewed in Namibia

From Proactive Investors

Bannon Limited (ASX:BNX) has renewed six licenses that make up its Kaoko copper and base metals project in Namibia and has acquired an additional exclusive prospecting license.

Notably, the Namibia Ministry of Mines has recognized the importance of the company maintaining a large cohesive land package by approving its request to waive the required relinquishment of 25% of the acreage for four of the licenses.

The acquisition of EPL 4540, which is located in the middle of the six licenses, increases the company’s land holding to 3,478 square kilometers.

This supports the regional potential of the Kaoko Project with limited incremental cost to the proposed exploration plan.

The company had previously planned to drill 2,000 meters of rotary air blast holes to evaluate the sub surface extent of the 10 kilometer by 2 kilometer copper anomaly at the Okanihova prospect.

Read more at proactiveinvestors.com