Oscillate Plc - Serval Resources commences first exploration programme in the Kalahari Copper Belt

Oscillate PLC

("Oscillate" or the "Company")

7 November 2025

Serval Resources commences first exploration programme

in the Kalahari Copper Belt

Highlights 

• Programme aims to test the thickness of the Kalahari sand cover as well as  the contact zone between the Ngwako Pan and D’Kar Formation, being the target area of possible copper mineralisation 
• Geophysics results will allow for the design of focused drilling campaigns in due course

The Company is pleased to announce that it has commenced its first exploration work programme on its proposed Botswana assets in the Kalahari Copper Belt (“KCB”).  

This work programme will use geophysics to evaluate two targets: licence PL231/2018 (“PL231”) and licence PL082/2020 (“PL082”). Much of the KCB is covered by Kalahari sand, which has complicated exploration in the past. Advancements in exploration techniques, specifically geophysics, now enable mining companies to identify previously hidden deposits, creating significant opportunities for new discoveries.

CEO, Robin Birchall, commented: 

"We are excited to commence our first work programme in the Kalahari Copper Belt, which is an emerging copper belt with the potential for multiple copper discoveries. Geophysics is key to unlocking the KCB’s potential, given the extensive sand cover, and has been instrumental in terms of proving up existing resources in the belt. We will be working quickly to complete this programme by the end of the year, with results available for interpretation in early 2026.” 

About the work programme

Field work has started with access clearing of approximately 50-line kilometres for a geophysics work programme at both the PL231 and the PL082 prospects.  

Surveys to be completed for both prospects include Ground Magnetics, Audio-frequency Magnetotellurics (“AMT”) and ground-based Time Domain Electromagnetic surveys (“TEM”).  The surveys will be completed on lines that are 200 metres apart, and clustered around regionally identified target areas in both licence areas.

The aim is to use a combination of geophysical methods to model for two outcomes.

• Firstly, to seek the contact between the sandstone unit (Ngwako Pan) and the shale unit (D’Kar Formation) – by measuring the differing conductivity responses expected between these units, the target horizon for copper mineralisation can be identified.
• Secondly, to identify potential mineralisation through identifying sulphides in rock.

In addition, the Company will be able to identify the depth of sand cover at each of these locations.  The results of these surveys will allow for the design of a focused drill campaign at these prospects in due course.

PL082 is particularly notable as it is on strike to Cobre Limited’s Ngami Project which is a copper and silver development opportunity with estimated scale of between 103Mt and 166Mt @ 0.38 to 0.46% Cu[1] (results are in exploration target category). The use of geophysics was an important tool in terms of driving exploration results at Ngami.

The programme will start with access clearing of approximately 50-line kilometres followed by the surveying and data collection programmes and then the processing and interpretation of the data.

It is anticipated that this proposed work programme will be completed by the end of 2025 and results will be available in Q1 2026.

As recently announced, the Company is acquiring a 100% ownership of 17 licences in Botswana (including PL231 and PL082) further to the acquisition of Kalahari Copper Limited (“Kalahari Copper”). As part of this transaction, the Company agreed with Kalahari Copper that some of the Company’s initial payment of US$500,000 would be allocated to the Botswana work programme, and these funds have therefore covered the cost of this planned geophysics programme. 

The two maps below indicate the location of the survey areas in the two licences.

Figure 1: Location of survey licence on PL231. 

Figure 2:  Location of survey licence on PL082. 

The Directors of the Company accept responsibility for the contents of this announcement. 

Enquiries: 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

About Serval Resources 

Serval Resources is focused on unlocking value across a high-potential portfolio to become a leading mid-cap copper and future metals explorer and developer.  

By securing exploration and development assets in the upcoming copper belts of Namibia, Botswana and Côte d’Ivoire, the Company will be strategically positioned to capitalise on the rising demand for sustainable copper and associated metals, driven by the global energy transition and the need for responsible, independent supply chains.  

These regions remain relatively under-explored in contrast to their high potential. Serval will look to apply modern and rigorous exploration techniques, as well as the depth of experience of its management team, in order to systematically evaluate, secure  and develop  prospective opportunities to the benefit of all its stakeholders. 

Serval Resources is a brand operated by Oscillate PLC, which is listed on the UK’s AQSE Growth Market Exchange under the ticker AQSE: SRVL.