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LONDON - Kendrick Resources Plc (LSE:KEN) has exercised its option to acquire the Blue Fox Licence in northwest Zambia, according to a press release statement issued Monday.
The mineral exploration and development company will commit to spending at least $500,000 on assessing and exploring the license area over the next 30 months. The Blue Fox Licence, identified as 34412-HQ-LEL, is located in the External Fold and Thrust Belt region of northwest Zambia.
This decision follows the company’s earlier announcement on June 10, 2025, when it first disclosed the option agreement.
The External Fold and Thrust Belt extends into the neighboring Democratic Republic of Congo, where it hosts the Tenke Fungurume and Mutanda mines.
"We are pleased to have exercised our option over the Blue Fox Licence which is located within the External Fold and Thrust Belt in northwest Zambia, a country well known to the Board," said Colin Bird, Executive Chairman of Kendrick Resources.
Bird added that the company has access to a large knowledge base and experienced geological personnel in the region, and described the license area as "highly prospective."
The company stated it continues to seek new resource project opportunities in areas where its board has expertise, including Southern Africa, and is discussing financing options with brokers and third parties.
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