Mr. Luke Norman reports
LEVIATHAN METALS ENTERS INTO PURCHASE AGREEMENT TO ACQUIRE KEY STRATEGIC KALAHARI COPPER BELT LANDHOLDING, BOTSWANA
Leviathan Metals Corp. has entered into a purchase agreement with a private third party (the vendor) in respect to a prospecting licence, situated in close proximity to its 100-per-cent-owned Central project, on the Kalahari copper belt (the KCB), Botswana.
- Target prospecting licence adds over 10 kilometres of interpreted D'Kar-Ngwako Pan formation contact, and thereby prospective target structure and stratigraphy, to the Central portfolio.
- Covers 270 square kilometres, in close proximity to the Central portfolio expanding its total area to 590 square kilometres, exclusive of Leviathan's other Kalahari copper belt holdings.
- Further cements Leviathan's presence in this prospective yet highly underexplored southern KCB target zone.
The licence covers approximately 270 square kilometres, expanding the project to a total area of 590 square kilometres. This strategic acquisition adds a further 10 kilometres of interpreted D'Kar-Ngwako Pan formation contact -- and thus key target structure and stratigraphy -- to Leviathan's Central portfolio, in the near vicinity of MMG's Khoemacau group of deposits and discoveries.
Under the terms of the agreement, Leviathan will acquire a 100-per-cent interest in the licence by (i) paying the vendor the sum of $200,000 (U.S.) in cash upon the renewal and initiation of ownership transfer of the licence in favour of Innovation Surveyors Pty. Ltd., a wholly owned subsidiary of Leviathan, (ii) payment to the vendor the sum of $300,000 (U.S.) in cash and issuance of 991,666 common shares in the company upon fulfilment of closing conditions, including the approval of the transfer by the relevant authorities in Botswana and the approval of the TSX venture Exchange of the transactions contemplated by the agreement, and (iii) grant in favour of the vendor a 1.0-per-cent net smelter royalty in respect of the licence (which can be purchased and cancelled by Levithan for $1.5-million (U.S.)).
About the Central project
The Central project, now totalling 590 square kilometres directly adjoins MMG's Khoemacau group of deposits and discoveries (combined measured and indicated mineral resources of 94 million tonnes at1.8 per cent Cu (copper) and 22 g/t (grams per tonne) Ag (silver) and inferred mineral resources of 188 Mt at 1.6 per cent Cu and 20 g/t Ag), on the KCB which, together with the nearby Banana zone, Zone 6 and Ophion (combined measured and indicated mineral resources of 33 Mt at 1.4 per cent Cu and 21 g/t Ag and inferred mineral resources of 141 Mt at 0.9 per cent Cu and 10 g/t Ag) were acquired by MMG Ltd. in 2023 for $1.9-billion (U.S.) (the adjacent properties).
Central displays similar large-scale geological characteristics to those observed at Khoemacau, making the property prospective for a Tier 1 copper discovery. Specifically, all known KCB copper deposits -- including those of Khoemacau -- occur at or close to a well-understood stratigraphic contact (namely the interface between the D'Kar and Ngwako Pan formations) on the flanks or hinges of kilometre-scale antiforms or domes, typically within secondary folds, shears or other structural trap-sites which focused the mineralizing fluids.
With the additional ground Central will boast over 30 kilometres of this contact, mostly around the main domal structure referred to as the Hyena Hills dome, as supported by high-resolution ground magnetic data collected in 2023 and 2024. The Hyena Hills dome is the next dome south from those hosting the Khoemacau deposits and discoveries; each of the other domes at Khoemacau hosts at least two copper deposits or discoveries.
Botswana is a politically stable pro-mining investment jurisdiction -- ranked No. 2 in Africa by the Fraser Institute (2024), enjoying investor-friendly legislation, a highly proficient and well-educated work force, and first world infrastructure -- set up to support mining, which is a pivotal and widely accepted national economic driver. The Kalahari copper belt is regarded by the USGS as one of the world's most prospective areas for sediment-hosted copper deposits.
Qualified person and data verification
Andrew Pedley (PrSciNat), a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release relating to the Central project and the Serule uranium project. Mr. Pedley is a consultant for Leviathan.
Neither the qualified person nor Leviathan has verified the scientific, technical or other information disclosed in respect of the adjacent properties.
About Leviathan Metals Corp.
Leviathan Metals, previously known as Leviathan Gold Ltd., is a Canadian-based mineral exploration company listed on the TSX Venture Exchange (LVX) and Germany (0GP).
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