Project Description

Large Scale Exploration Licence No. 30317-HQ-LEL is held by Gulf Drilling Limited and is currently approved for granting. The application was submitted on 7 October 2021 and is awaiting formal issuance, after which the grant and expiry dates will be confirmed. The licence covers approximately 84,831.85 hectares and is located in Mwinilunga District, North-Western Province of Zambia. The project is prospective for cobalt, copper, gold and quartz, positioning it as a large-scale exploration asset with broad mineral potential. The licence is, however, in the process of being cancelled. Following site verification and preliminary assessments, it was established that the licensed area falls within a designated forest reserve. Given the environmental sensitivity of the area, the Company has been unable to undertake exploration activities without risking adverse impacts on the natural ecosystem. In the interest of environmental protection and responsible mining practices, the Company has resolved to discontinue any further pursuit of activities under this licence.