Kalahari Copper Belt, Botswana

The Kalahari Copper Belt is one of the world’s most exciting, emerging copper producing regions and our landholding of 14,407km2, which extends over the central and western portions of the belt, provides substantial exploration upside.

An infill and extension drilling program commenced at the A1 deposit during FY25, which is located ~20km to the north-east of our Motheo processing facility. Approximately 20.2km of drilling was completed during the period with the program designed to establish a maiden reserve in Q4 FY26 in support of the ongoing pre-feasibility study.

We also completed 5.6km of infill and extension drilling to further test the extent of the A4 orebody, which remains open in all directions, as well as a footwall target previously identified at T3.

During FY25, our regional exploration team remained primarily focused on targets within the Motheo Hub and progressively ramped-up activity in the Southern Hub. A total of 76 holes were completed for ~21km of drilling overall. Target generation has undoubtedly benefitted from the realisation that commercial mineralisation in each of the T3, A4, and A1 deposits has similar characteristics and is believed to be influenced by the same structural controls.