Leviathan Metals has signed a purchase agreement with an undisclosed vendor to acquire a prospecting licence near its wholly owned Central Project in Botswana’s Kalahari Copper Belt.
This acquisition increases the company’s Central Project by 270km², bringing the total area to 590km².
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The newly acquired land includes more than 10km of interpreted D’Kar-Ngwako Pan Formation contact, adding potential copper target structures and stratigraphy to Leviathan’s portfolio.
Under the agreement, Leviathan will acquire a 100% interest in the licence through a combination of cash, shares and a royalty.
The company will pay the vendor $200,000 (C$274,374) in cash once the licence is renewed and the ownership transfer to Innovation Surveyors, Leviathan’s wholly owned subsidiary, is initiated.
Upon completion of the closing conditions, including approval of the transfer by the relevant Botswana authorities and approval from the TSX Venture Exchange, Leviathan will also pay a further $300,000 in cash and issue 991,666 common shares.
In addition, the vendor will receive a 1% net smelter royalty on the licence, which Leviathan may repurchase and cancel for $1.5m.
The Central Project is directly adjacent to MMG’s Khoemacau deposits and discoveries on the Kalahari Copper Belt.
These deposits have combined measured and indicated mineral resources of 94 million tonnes (mt) at 1.8% copper and 22 grams per tonne (g/t) silver, with inferred resources of 188mt at 1.6% copper and 20g/t silver.
The addition of new ground enhances Central’s potential with more than 30km of key stratigraphic contact around the Hyena Hills dome structure.
The Kalahari Copper Belt has been identified by the US Geological Survey as a prime area for sediment-hosted copper deposits.
In September 2025, Leviathan announced an amalgamation agreement with Cura Botswana (Cura) and its subsidiary, 1555801 B.C. (Subco), to acquire a 100% interest in Kalahari copper and uranium exploration portfolios in Botswana.
