BWA Group PLC Certificates & Access Granted for 3 Exploration Licences

 
TIDMBWAP 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 
        OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. 
 
13 December 2022 
 
                                 BWA Group PLC 
 
                           ("BWA", or the "Company") 
 
 Certificates and Access Granted for Nkoteng 2 and Dehane 2 and Dehane 3 Heavy 
                 Mineral Sands Exploration Licences, Cameroon 
 
BWA Group plc [AQSE: BWAP], which has mineral exploration licences in both 
Cameroon and Canada and is quoted on London's AQSE Growth Market (formerly 
NEX), provides an update on its receiving final Ministry of Mines, Industry and 
Technological Development ("MINMIDT") certification paperwork for the granting 
of Nkoteng 2, Dehane 2 and Dehane 3 heavy mineral sands ("HMS") exploration 
licences, located in Central Cameroon and held by BWA's 90% subsidiary BWAR (" 
Nkoteng 2" or the "Nkoteng Project" and "Dehane 2" and "Dehane 3" or the " 
Dehane Project"). 
 
The Nkoteng 2 and Dehane 2 permits are valid for three years from the 15th of 
November 2022 until the 14th of November 2025. The Dehane 3 permit is also 
valid for three years from the 6th of December 2022 until the 5th of December 
2025. All three new licences are renewable for three two-year periods, allowing 
a potential of nine years for exploration. The permits apply to the exploration 
for rutile, ilmenite, zircon and other related minerals. The final MINMIDT 
approval increase BWA's in-country licence portfolio to five heavy mineral 
sands licences, expanding the total licence area to 1,268 km2. 
 
The existing Nkoteng 1 Licence covers an area of 343 km2 and the newly granted 
contiguous Nkoteng 2 Licence (permit number 688) covers an area of 494 km2, 
comprising part of the prospective Sanaga river system and are located 60 km to 
the northeast of Yaoundé with easy road and rail links to the port of Douala. 
 
The Dehane 1 Licence is 132 km2 and the newly granted contiguous Dehane 2 
Licence (permit number 686) covers an area of 54 km2. The non-contiguous newly 
granted Dehane 3 licence (permit number 687) is located 17 km to the east of 
Dehane 1 and covers an area of 246 km2 bringing the total Dehane Licence 
package area to 432 km2, comprising part of the prospective Nyong river system 
estuary and is located 150 km to the west of the capital, Yaoundé and 70 km 
from the deep seaport and industrial zone of Kribi. 
 
A version of this announcement containing the maps can be viewed on the 
Company's website, http://www.bwagroupplc.com/. 
 
Outlook 
 
The granting of Nkoteng 2 is extremely positive for BWA as this licence covers 
an additional 50 km of strike length of the Sanaga river system, an area known 
to be prospective for Ilmenite, Rutile, Zircon and Kyanite heavy mineral sand 
mineralisation. This additional 50 km brings the total strike length of the 
Nkoteng licences to over 100 km. 
 
The granting of Dehane 2 is particularly positive for BWA as licence covers the 
mouth of the Nyong river system as it empties into the Gulf of Guinea. A river 
mouth can lead to a change in flow conditions that can cause the fluvial system 
to deposit any supplementary sediment it is carrying. Furthermore, the licence 
covers some 20 km of coastal region which has the potential for marine type HMS 
deposition, where potentially economic accumulations of HMS are found within 
the lowest energy zone on the beach, the swash zone. The granting of Dehane 3 
further allows BWA access to an additional 27 km of strike length of the Nyong 
river system and this additional 27 km brings the total accessible strike 
length of the Dehane licences to over 60 km. BWA look forward to incorporating 
Nkoteng 2, Dehane 2 and 3 into the regional exploration programmes. 
 
As announced on 5 December 2022, the board of directors of the Company (the " 
Board") continues to review sources of capital for the Company to continue 
exploration and development of the mineral projects. 
 
James Butterfield, interim Non-executive Chairman of BWA, commented: 
 
"We are pleased to have the Nkoteng 2, Dehane 2 and 3 Licences officially 
granted and certification paperwork in hand, which gives us full access to 
commence planned exploration work. The addition of these new licences almost 
double our prospective land holding in the region and we look forward to 
exploring the additional 100 km of river system, 20 km of coastal region and 
associated floodplains that the licences give us access to." 
 
Geology and Geological Interpretation 
 
The prospective Sanaga river is the main river which runs through the BWA 
Nkoteng licences area and accommodates approximately 100 km of the river 
floodplain system and associated tributaries, and an even larger 
paleo-floodplain area, observed in satellite imagery. The geological sequence 
generally consists of a cover of clays, overlying the target deposit layer 
consisting of sands and gravels, generally laying directly on the bedrock. 
 
Surficial geology encountered during the auger programme comprised of 0.2 m of 
surface organic rich soil, alluvial clays and sandy clays ranging from 0 m to 4 
m with an average thickness of approximately 1.3 m, and basal sand and gravels 
ranging from 0 m to 3 m thick in places. The Nkoteng deposit is likely to be a 
trap placer (native) deposit. The entire stratigraphic column of the Sanaga 
alluvial deposits is considered potentially mineralised. 
 
Nkoteng is located within the Yaoundé Domain of the Pan African Belt, a large 
nappe unit that has been thrusted southward onto the Congo Craton and is 
characterised by low-grade to high-grade garnet bearing metamorphosed schists, 
gneiss and orthogneisses. 
 
The Dehane licence is located on the Western Cameroon Domain, which extends 
along the border between Nigeria and Cameroon. This domain consists of a series 
of medium-grade to high grade schists and gneisses of volcanic and 
volcano-sedimentary origin, intruded by later-stage granitoid complexes, the 
basement rocks are source of heavy minerals. 
 
The Nyong river is the main river which runs through the Dehane licence areas. 
The BWA licences accommodate approximately 34 km of the prospective Nyong river 
floodplain system, deltas, and associated tributaries. 
 
The licences encompass a large active river system and an even larger 
paleo-floodplain area, and marine coastline observed in satellite imagery, 
although this has yet to be fully ground-truthed through fieldwork. This 
paleo-floodplain is likely to be a significant target for exploration and 
covers the length of the river with an initial expected width of over 2 km in 
the north and increasing in the south. Other rivers of various importance are 
found there: Owoumbé, Nkoudou, Bidinga, Mbebe, Mboke, and Ongué. 
 
The Dehane area has been known for historic small scale artisanal rutile 
mining. However, the extent of its exploitation has not translated to 
concentrated modern exploration. 
 
Competent Person's Statement 
 
The information in this report which relates to the Nkoteng and Dehane Project 
is based upon and fairly represents information collected and compiled by Mr 
Emmanuel Simo, MSc., Senior Geologist and Chief Geologist for BWA, who is a 
Member of the Australian Institute of Geoscientists. The results were reviewed 
by Mr J.N. Hogg, MSc. MAIG, Principal Geologist for Addison Mining Services 
(AMS) and Non-executive Director of BWA. 
 
Mr Simo and Mr Hogg have sufficient experience relevant to the style of 
mineralisation, the type of deposit under consideration and to the activity 
undertaken to qualify as a Competent Person as defined in the JORC Code 2012 
edition of the Australasian Code for Reporting of Exploration Results, Mineral 
Resources and Ore Reserves. 
 
Mr Hogg has reviewed and verified the technical information that forms the 
basis of and has been used in the preparation of this announcement, including 
all sampling and analytical data, and analytical techniques. Mr Hogg consents 
to the inclusion in this announcement of the matters based on the information, 
in the form and context in which it appears. 
 
Forward Looking Statement 
 
This announcement contains forward-looking statements which involve a number of 
risks and uncertainties. These forward-looking statements are expressed in good 
faith and believed to have a reasonable basis. These statements reflect current 
expectations, intentions or strategies regarding the future and assumptions 
based on currently available information. Should one or more of the risks or 
uncertainties materialise, or should underlying assumptions prove incorrect, 
actual results may vary from the expectations, intentions and strategies 
described in this announcement. No obligation is assumed to update forward 
looking statements if these beliefs, opinions and estimates should change or to 
reflect other future developments. 
 
For further information on the Company, please visit http://www.bwagroupplc.com 
/index.html or contact: 
 
BWA Group PLC                         [phone] 
James Butterfield                     [e-mail] 
Interim Chairman 
 
Allenby Capital Limited               [phone] 
Corporate Adviser 
Nick Harriss/Freddie Wooding 
 
 
 
END 
 
 

(END) Dow Jones Newswires

December 13, 2022 02:00 ET (07:00 GMT)