Aeterion PLC (LSE: ATN), Critical Minerals Exploration and Development Company, is pleased to announce the commencement of a Soil Geochemical Program on its License PL2622/2023.Project“) within the Kalahari Copperbelt (“KCB“) is located in the north-western region of the Republic of Botswana (“Botswana”).
This program represents an important step in advancing the Company’s copper exploration strategy in one of the world’s most prospective emerging copper belts.
Charles Bray, Executive Chairman of Aeterion plc, commented:
“Our strategy is clear: execute disciplined, data-driven exploration to rapidly identify, prioritize and pursue high-impact drill targets within proven geological terrain. With key industry players actively consolidating positions in KCB, we believe Aeterion is exceptionally well positioned, holding a strategically located license with strong geological credentials within a competitive geological terrain.
Importantly, this initiation of fieldwork is designed to accelerate our path to value creation, with a clear eye towards geophysics and subsequent drilling. We want the results to build a strong pipeline of drill-ready targets.
We are now entering an increasingly active phase of exploration in both our Botswana and Morocco portfolios, and look forward to delivering a steady flow of results. We believe our systematic approach, combined with the quality of our land, positions Aterian to generate meaningful exploration potential and long-term shareholder value.“
overview
The project is located to the east-north-east of several active exploration and development projects being conducted by industry partners within the Kalahari Copperbelt.
Following a detailed geophysical review and targeting exercise conducted by independent consultants, the license area is considered to be most prospective in its south-western part. This region is thought to lie beneath the Galileo Fold structure in the west and is bounded by a magnetic basement in the east.
Parallel to the northwestern boundary of the license, a well-defined southwest-northeast striking magnetic linear anomaly is interpreted as a response to magnetic marker sandstone within the lower D’Kar Formation – a major stratigraphic horizon associated with copper-silver mineralization in the KCB.
Soil Geochemistry Program
The soil geochemical survey will cover approximately 90 km² and is designed to test the identified structural and stratigraphic targets.
Key parameters of the program include:
- Sample lines are oriented northwest-southeast to intersect the magnetic anomaly
- Line distance approximately 2 km
- Sampling spacing of approximately 100 m along each line
The program is designed to identify geochemical anomalies associated with potential copper-silver mineralization and refine targeting for follow-on exploration.
next steps
Based on the results of the geochemical survey, the Company intends to:
- Define priority target areas for follow-up work
- Conduct at least two deep induced polarization (“IP”)/resistivity traverses (approximately 5 km each) over the identified magnetic anomaly
- Progress towards drill targeting, subject to results
This phased exploration approach is designed to advance the project efficiently while managing capital allocation.
Kalahari Copperbelt
The Kalahari Copperbelt is one of the most prospective regions in the world for undiscovered sediment-reserved copper reserves (USGS, 2020). This belt extends for approximately 1,000 km from western Namibia to northern Botswana along the northwestern margin of the Kalahari Craton and hosts several large layered copper-silver deposits.
Mineralization typically occurs within metasedimentary rocks that were folded and metamorphosed during the Damara orogeny. Deposits are generally stratigraphic or structurally controlled, with ore bodies 5–40 m thick and strike lengths of 1.5–4 km. Copper mineralization is commonly associated with the base of the D’Kar Formation, which is in contact with the underlying Ngwako Pan Formation.
Aterian’s licenses are strategically located within this emerging copper district, including:
- An Atlantis license is located approximately 50 km east of MMG’s Khoemkau Copper Mine Zone 5 deposit (92.9 Mt at 2.0% Cu and 21 g/t Ag).
- While the other is 7 km west of the Banana Zone deposit (157 Mt at 0.86% Cu and 11 g/t Ag).
In March 2024, MMG Limited acquired Cuprus Capital Limited, the parent company of Khomakau Copper Mine, for US$1.73 billion.
qualified person
The technical disclosures in this regulatory announcement have been approved by Simon Rollason, Chief Executive Officer of Aeterion plc. Graduated from the University of the Witwatersrand in Geology (Hons). He is a member of the Institute of Materials, Minerals and Mining with over 30 years of experience in mineral exploration and mining.
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This announcement contains information which, before its disclosure, was inside information as determined under Regulation 11 of the Market Abuse (Amendment) (EU Withdrawal) Regulation 2019/310 (as amended).
Connect directly with the Aterian PLC management team by asking questions, watching video summaries and seeing what other shareholders have to say. Please visit our interactive investor center here: https://aterianplc.com/s/fcf8eb
For more information please visit the company’s website: www.aterianplc.com Or contact:
Eterion PLC:
Charles Bray, Executive Chairman – charles.bray@aterianplc.com
Simon Rollason, CEO and Director – simon.rollason@aterianplc.com
Financial Advisors and Joint Brokers:
Albr Capital Limited
David Kaufman/Dan Harris
Phone: +44 (0)207 7469 0930
Joint Brokers:
SP Angel Corporate Finance LLP
Ivan Leggett/Davik Mehta
Phone: +44 20 3470 0470
Financial PR:
Bald Voodoo – ben@baldvoodoo.com
ben kilbe
Phone: +44 (0)7811 209 344
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Notes to editors:
About Eterion PLC
Aeterion PLC is an LSE-listed exploration and development company with a diverse African portfolio of critical metals projects.
Aterion PLC is actively seeking to acquire and develop new critical metals resources to strengthen its existing asset base, as well as support ethical and sustainable supply chains as the world transitions to a sustainable, renewable future. The supply of these metals is vital to the development of the renewable energy, automotive and electronic manufacturing sectors, which are increasingly important in reducing carbon emissions and meeting global climate ambitions.
Aterian has a portfolio of several copper-silver (+gold) and base-metal projects in Morocco. Eterion holds a 90% stake in Atlantis Metals, a private Botswana-registered company that holds eleven mineral prospecting licenses for copper-silver in the world-famous Kalahari Copperbelt and three licenses for lithium and salt brine exploration in the Makgadikgadi Pans area. The company also holds an exploration license in southern Rwanda, where it is evaluating tantalum and niobium opportunities in addition to exploring pegmatite-hosted lithium.
The Company’s strategy is to seek new exploration and production opportunities across the African continent and to develop new sources of significant mineral assets for exploration, development and trading.
