Kalahari Copperbelt Project

After intensive exploration since 2008, the Kalahari Copperbelt Project has been reduced to a single exploration tenement, EPL 4055.

The Sib deposit is hosted by sandstone of the Nosib Group, part of the Late Proterozoic Damara Sequence.

During 2012, Craton’s drilling showed a northeast-trending sub-horizontal deposit, up to 15m thick, shallowly-dipping and largely at less than 35m depth.  Sib contains a total resource estimated at 0.97 Mt at 0.73% Cu & 23.5 g/t Ag. During 2014, a Scoping Study was carried out by VBKom Namibia Consulting Engineers (Pty) Ltd, indicating the possible feasibility of a small mining and processing operation.

Regional-scale exploration has, to date, failed to identify other zones of copper mineralisation in the Sib tenement area and Craton will dispose of the licence.

Note:  The Sib resource statement has been summarised from a report, dated December 2014, provided to Craton by VBKom Consulting Engineers, Namibia.  The resource has been estimated by Mr Paulus van der Merwe, a consultant to VBKom Consulting Engineers (Pty) Ltd, in accordance with the guidelines of the 2007 Edition of the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (“2007 SAMREC Code”).  Mr van der Merwe is a Member of the Geological Society of South Africa and has sufficient experience to qualify as a Competent Person as defined by the 2007 SAMREC Code.  Mr van der Merwe consents to the inclusion of the information in the form and context in which it appears.