African Energy Resources Limited (ASX: AFR) has been granted five exploration licences in the highly prospective South West Terrane of Western Australia.
The applications cover three areas, the Kondinin, Tarin Rock and Sunnyside-Mayanup projects, each of which is considered prospective for large porphyry copper and gold deposits and/or intrusion related orogenic gold deposits.
African Energy said in a statement that the new licences would consolidate the company’s diversification from energy projects in Botswana and complement its investment in ASX-listed Caravel Minerals, which owns a large porphyry Cu-Mo deposit in Western Australia.
It said field evaluation of the project areas would commence during the current quarter, initially comprising roadside soil sampling and geological mapping.
“Now that the exploration licences have been granted the Company will undertake reconnaissance mapping and geochemical soil sampling along roadsides to confirm their prospectivity for copper and gold and to define targets for further follow-up,” reads the statement.