Verity Resources Locks in Tenure Over High-Grade Botswana Copper-Silver Ground
Verity secures two-year tenure over its high-grade Botswana copper-silver ground
Verity Resources (ASX: VRL, FSE: 48B0) has secured renewed tenure over its flagship Botswana copper-silver and nickel-copper-PGE ground for a further two years. Botswana’s Ministry of Minerals and Energy has granted renewal of four prospecting licences — PL2477/2023, PL2478/2023, PL2479/2023, and PL222/2022 — covering the Company’s core Limpopo Mobile Belt landholding in eastern Botswana. This renewal locks in tenure over the Airstrip and Dibete high-grade copper-silver discoveries, along with the Maibele North nickel-copper-PGE resource. The licences give VRL the runway it needs to advance large-scale copper-silver targets that carry bonanza-grade historical intercepts and remain largely untested at depth.
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What the renewal secures
The renewed licences confirm VRL’s tenure position across 2,868km² of a district that hosts the Selebi and Selebi North nickel-copper-cobalt mines and the Selebi Phikwe concentrator and smelter complex, located approximately 50km from the Company’s ground. The four licences cover VRL’s three most advanced Botswana assets:
- Airstrip — bonanza-grade vein-hosted copper-silver along the Magogophate Shear Zone, open at depth and along strike
- Dibete — thick, high-grade copper-silver intercepts from a pipe-like sulphide system largely untested below ~120m
- Maibele North — JORC 2012 Inferred Mineral Resource of 2.4Mt @ 0.72% Ni, 0.21% Cu plus 0.63g/t 4PGE+Au
| Asset | Type | Headline Grade / Resource | Status | Notes |
|---|---|---|---|---|
| Airstrip | Vein-hosted Cu-Ag | 11m @ 7.63% Cu, 462g/t Ag (incl. 3m @ 22.74% Cu, 1,379g/t Ag) | Historical drilling | Open at depth and along strike |
| Dibete | Pipe-like Cu-Ag sulphides | 25m @ 2.17% Cu, 77g/t Ag from 27m | Historical drilling | Largely untested below ~120m |
| Maibele North | Orthomagmatic Ni-Cu-PGE | 2.4Mt @ 0.72% Ni, 0.21% Cu, 0.63g/t 4PGE+Au | JORC 2012 Inferred | Open along strike and at depth |
High-grade copper-silver: Airstrip and Dibete drill history
Airstrip — bonanza-grade vein-hosted system
Airstrip has demonstrated the bonanza-grade nature of the vein-hosted copper-silver system along the Magogophate Shear Zone. Mineralisation remains open at depth and along strike. Key historical intercepts include:
- 11m @ 7.63% Cu, 462g/t Ag from 52m (including 3m @ 22.74% Cu, 1,379g/t Ag)
- 1.13m @ 21.58% Cu, 1,023g/t Ag from 65m (including 0.25m @ 60.98% Cu, 2,833g/t Ag)
- 0.6m @ 25.27% Cu, 1,283g/t Ag from 64m (including 0.24m @ 49.06% Cu, 2,493g/t Ag)
- 18m @ 1.72% Cu, 27.5g/t Ag from 42m (including 3m @ 8.39% Cu, 136.2g/t Ag)
Dibete — thick, high-grade intercepts, largely untested at depth
At Dibete, sub-surface pipe-like copper sulphide bodies are defined by steeply dipping audio-frequency magnetotelluric (AMT) and induced polarisation (IP) anomalies across a north-east trending corridor measuring approximately 4.5km by 1km. Previous drilling has returned thick, high-grade copper-silver intercepts from a system that is largely untested below ~120m. Significant historical intercepts include:
- 25m @ 2.17% Cu, 77g/t Ag from 27m (including 6m @ 4.46% Cu, 162g/t Ag)
- 6.15m @ 7.20% Cu, 182g/t Ag from 24.85m
- 36m @ 1.37% Cu, 70g/t Ag from 12m (including 2.5m @ 7.41% Cu, 456g/t Ag)
- 11m @ 4.5% Cu, 229.9g/t Ag from 33m
- 9m @ 1.54% Cu, 82g/t Ag from 45m (including 2m @ 4.20% Cu, 269g/t Ag)
The Maibele North nickel-copper-PGE resource
Maibele North hosts a JORC 2012 Inferred Mineral Resource of 2.4 million tonnes @ 0.72% nickel, 0.21% copper plus 0.63g/t combined platinum group elements and gold, at a 0.3% nickel cut-off. Mineralisation is orthomagmatic nickel-copper-cobalt-PGE sulphide associated with ultramafic intrusions in Limpopo Mobile Belt rocks, and remains open along strike and at depth. The resource estimate was prepared in April 2015, prior to the recent strengthening of critical metals prices.
Why the neighbouring Selebi district matters
Proximity to established infrastructure and an active neighbour materially de-risks an explorer. The renewed prospecting licences sit within the same structural corridor as the Selebi and Selebi North nickel-copper-cobalt deposits, now held by NexMetals Mining Corp. (NASDAQ: NEXM). The Selebi and Selebi North mines operated until 2016. The historical BCL concentrator and smelter complex remains in place on the adjacent Phikwe property, which tells you processing infrastructure is already on the ground in the district.
NexMetals is progressing redevelopment studies for the Selebi Mines, with its current development strategy focused on producing separate saleable copper and nickel concentrates. In July 2025, NexMetals received a US$150 million Letter of Interest from the Export-Import Bank of the United States. NexMetals’ Selebi Mines Project now hosts a 24.7Mt @ 3.42% CuEq Inferred and 3.0Mt @ 2.92% CuEq Indicated NI 43-101 Resource. This information is provided for regional geological context only, and the presence of mineralisation at Selebi Mine is not necessarily indicative of mineralisation on VRL’s projects. What it does tell you is that institutional interest in the district is being reactivated, and VRL holds a meaningful position in that corridor.
Director Patrick Volpe
“Renewal of these four licences secures our position over the Airstrip and Dibete copper-silver discoveries and the Maibele North resource for a further two years. This is the ground that carries our defined copper, silver, nickel, PGE and gold endowment in Botswana, and holding it on a firm footing gives us the runway to get back to uncovering the potential of the large-scale copper-silver targets.
The district has changed considerably since this ground was last actively drilled. Selebi and Selebi North are being brought back into the frame by NexMetals, and the Selebi Phikwe plant and smelter remain in place. We hold a meaningful position in that corridor, and we intend to capitalise on it.”
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Exploration upside and next steps
The flagship assets already carry the defined endowment, but the bulk of VRL’s Botswana ground remains an untested opportunity. A regional VTEM dataset has identified 23 untested anomalies across the portfolio, the majority of which lie outside the three flagship prospect areas. Together, Airstrip, Dibete, and Maibele North represent less than 10% of the total Botswana project area.
The soil sampling programme (announced 29 June 2026) is continuing over an additional 903km² area at PL123/2024, with samples to be dispatched to ALS South Africa for assay. Results will follow once assays are returned.
Near-term catalysts now include:
- Tenure secured over flagship copper-silver and nickel-copper-PGE assets for a further two years
- Soil assay results pending from the 903km² programme at PL123/2024
- Scope to drill-test untested VTEM anomalies across the broader portfolio
- Renewed institutional interest in the district following NexMetals’ progress at Selebi
Want to See What VRL Holds Across 2,868km² of High-Grade Botswana Ground?
Verity has locked in tenure over bonanza-grade copper-silver discoveries and a nickel-copper-PGE resource for another two years, with 23 untested VTEM anomalies still sitting on the books. The company now has the runway to advance large-scale targets that remain largely untested at depth—and with a neighbour like NexMetals progressing redevelopment studies just 50km away, the district is heating up.
If you’re looking to track VRL’s next moves as soil assay results land and drill plans take shape, visit the Verity Resources investor centre to access the full announcement and follow the company’s progress across Botswana’s Limpopo Mobile Belt.