Tower Resources (GB:TRP) has released an update.
Tower Resources PLC has secured an extension for the Initial Exploration Period of its PEL 96 license in Namibia until October 31, 2024, with an invitation to enter a First Renewal Period for up to three more years. The company has nearly completed its current work commitments and plans to reprocess existing 2D seismic data to improve selection for future 3D data acquisition, following promising discoveries of substantial stratigraphic traps. This progress underscores Tower Resources’ enhanced prospectivity view of PEL 96, as the company and its partners continue to evaluate the license’s potential.
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