Mineral exploration companies expand presence in Namibia

Multiple mineral exploration firms are expanding their operations in Namibia, targeting gold, copper, and uranium deposits.

NGX Limited has secured a district-scale position in the Damara Gold Belt by obtaining rights to acquire up to an 85% interest in seven Exploration Prospecting Licences. This acquisition covers over 1,300 square kilometres through the Erongo Gold Project. The company also holds the right to acquire up to an 85% interest in the 194-square-kilometre Karas Copper Project. To fund these activities, NGX completed a A$3.6 million capital raise.

Separately, Canadian-based General Strategic Metals has signed an option agreement with Frantier Mining Namibia Limited. The agreement allows the company to acquire an 80% interest in a 93,801-hectare prospecting licence application in the Otjozondjupa Region. This project is situated within the Damara Mobile Belt, a zone known for uranium, tin, gold, and base metals. The agreement includes specific exploration expenditure requirements to earn increasing interest in the property.