Serval Resources (AIM:SRVL) (AIM: SRVL) has completed geophysical surveys at its Somelo prospect in Botswana's Kalahari Copper Belt, with similar work nearing completion at the nearby Sweet Thorn Pan prospect.
The AIM-listed explorer is building an independent copper and future metals development business, and both prospects sit along strike from Khoemacau, a copper-silver mine owned by MMG holding a resource of 450 million tonnes at 1.4% copper and 18 grammes per tonne silver.
The Somelo work combined audio-frequency magnetotellurics, induced polarisation and high-resolution drone magnetic surveys across 51 line-kilometres, 4.45 line-kilometres and 170 line-kilometres respectively, targeting the mineralised contact between the Ngwako Pan and D'kar Formations beneath Kalahari sand cover.
At Sweet Thorn Pan, previously drilled under prior ownership, a 630 line-kilometre drone magnetic survey at 50-metre line spacing is under way, focused on anticlinal structures and historically drill-tested zones where copper mineralisation was identified.
Data processing has started, with integrated interpretation expected in October and follow-up drill targets due around the end of that month.
"We will now focus on processing and interpreting the new data... and defining the most compelling targets for follow-up exploration, including drilling, subject to receipt of additional funding in due course," said chief executive Robin Birchall.
Results and planned next steps for both prospects are expected around the end of October.
News Intelligence what this means for the company
Serval has completed geophysical surveys at Somelo and is finalizing work at Sweet Thorn Pan in Botswana's Kalahari Copper Belt, with data processing and integrated interpretation due in October to define drill targets. Both prospects sit along strike from MMG's Khoemacau copper-silver mine (450 million tonnes at 1.4% copper), positioning Serval to test similar geology, though the company notes follow-up drilling remains subject to receipt of additional funding.
Serval is progressing from geophysical mapping to drill-target definition on schedule, but the explicit funding caveat underscores that execution of the next phase—drilling itself—is not yet assured. October's interpretation results will be the first test of whether the survey data supports compelling enough targets to justify that capital raise.
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