Oscillate PLC, a company advancing global exploration and development-stage strategic metals opportunities focussed on copper, has entered into a non-binding Heads of Terms (HoTs) with Kalahari Copper to acquire, a BVI company which holds via its wholly owned Botswanan subsidiary, prospecting licences over Dalsu Prospects in Botswana.
The Dalsu licences incorporates 17, 100% owned, highly prospective licences (which have been granted or which have been applied to be transferred to Kalahari Copper) in the Kalahari Copper Belt (KCB) and the Bushman Lineament, (together the Dalsu Prospects) (the KCB Licences), to be acquired through a share purchase agreement (SPA).
The KCB Licences of the Dalsu Prospects give Oscillate a pathway to 100%-ownership of highly prospective copper and silver exploration tenements and one of the largest tenement packages in the KCB, assuming that all applications are transferred. The KCB Licences consist of three highly strategic project areas along strike, and adjacent to, producing mining operations, MMG's high-grade Zeta Zone Cu-Ag deposit1 and Sandfire's T3 Motheo Cu-Ag Production Hub2. With the KCB Licences, the Company will target unexplored basin margins and strike extension of known deposits with ideal geological position for sedimentary copper. The licence in the Bushman Lineament PL85 is adjacent to the Kopane mine currently operating in this region.
The Dalsu Project:
The Dalsu Prospects targets strata bound sediment-hosted copper-silver deposits in the KCB, while one license targets structurally controlled and shear hosted mineralization associated with the Bushman Lineament in Eastern Botswana. Initial soil sampling and geophysical exploration programs have been carried out across some of the licences, in addition to a drill programme comprising 2,084m of Reverse Circulation and Diamond Drilling on the PL 232 cluster of licences. Drilling intersected >1% copper in two of these holes.
PL232 and PL2474 prospects represent the highest priority KCB licences for Oscillate with their location along strike from MMG's operating mines and interpreted to be on strike with the known mineralized horizon of the D`kar and Ngwako Pan contact. This is interpreted from the regional airborne geophysics and with the drill bit for both licences. These will represent the highest priority for Oscillate in the immediate future.
The PL082 and PL061 represent highly interesting licences being, in the case of PL082 within very close proximity of Cobre's Ngami prospect. These licences will need additional work to determine the presence and thickness of Karoo cover as well as the prospectivity of the portions of the licences that are outside of Karoo cover sequences.
PL231 licences are targeting the underexplored margins of the Botswana component of the KCB but are in close proximity to highly prospective licences held by explorers across the nearby border with Namibia.
In the Bushman Lineament, the PL085 prospect will need additional geophysics and geochemistry to determine if the graphite horizon found both on the licence and in the nearby Kopano mine acts as the indicator for structurally controlled copper accumulations.
Oscillate CEO, Robin Birchall, commented:
"We are extremely excited to be in a period of exclusivity to document acquiring the Dalsu licences in Botswana, which from the recent exploration programmes carried out by Kalahari Copper, we believe to be highly prospective. The data indicate elevated copper and silver mineralisation. The licences have been shown to be along strike from some globally significant producing copper mines in a first rate mining jurisdiction. This is a very important opportunity for Oscillate as we continue to advance our copper and base metals strategy. I look forward to keeping our shareholders and the market appraised of our progress as we capitalise on these exciting opportunities."
Oscillate Strategy:
“With the support of the board and key shareholders in the Company, Oscillate continues to advance the next phase of its development. We are focussed on creating a portfolio of exceptional base metals exploration and development projects with particular emphasis on copper and key metals for the energy transition, in order to build significant shareholder value. In addition to this, it is the Company's intention to use these assets to graduate to a more senior Stock Exchange to allow the Company better access to capital going forward and to give shareholders access to better liquidity.”
