HIGHLIGHTS -
Phase 1 reconnaissance sampling completed during the due diligence phase on EPL 8535, part of the Uis Lithium Project in Namibia, returns sample results as high as:
o 3.3% Lithium Oxide (Li2O)
o 3.2% Tin (Sn)
o 4,280ppm Tantalum (Ta)
o 7,980ppm Rubidium (Rb)
- Pegmatites on EPL 8535 are spodumene dominant of the LCT-type
- Abundance of altered spodumene visible in pegmatites
– positive indicator for lithium exploration
- First phase drilling campaign to start imminently
– multiple significant pegmatite targets will be drill tested designed to confirm the continuity of the high lithium grades at depth.
Commenting on the results, Askari VP Geology and Exploration Mr Johan Lambrechts said: “These extraordinary results from the due diligence sampling campaign are significant for Askari, including five results greater than 3% Li2O, ten results greater than 0.24% tin and forty-two results greater than 100ppm tantalum.
The Company has been rewarded for its commitment to unlocking mineral resource potential as efficiently as possible, and strategically manoeuvring to capture shareholder value through the acquisition of the Uis Lithium project next door to an operating world-class tin, tantalum, lithium mine. Askari is strategically advancing its drive toward the top of the lithium exploration field in Namibia.
We see immense potential in our growing Namibian portfolio as we believe the country hosts significant and untapped lithium and critical mineral riches vital for the global energy transition to a lower carbon future.
The first phase of drilling EPL 8535 is imminent and exploration work on the neighbouring EPL 7345 licence continues to progress. We are incredibly excited about the future and look forward to keeping our shareholders informed as we progress.”
So spodumene confirmed via the pegmatites.
And some of those other minerals are worth a hell of a lot with Rubidium worth more than gold.
Drilling will tell the tale as always, but pretty positive signs.
