Askari Metals acquires lithium project in Namibia

The acquisition of EPL 8535 represents a significant expansion of the Uis Lithium project currently owned by the company, located in Namibia, Africa and covers an area of 194.59 km² . The Uis Lithium project (EPL 7345 and EPL 8535) now covers an area of 308.12 km² and is located less than 5 km from the township of Uis, and less than 2.5 km from the operating Uis mine owned and operated by AfriTin Mining plc (LSE. ATM), within the Erongo Region of west-central Namibia. Swakopmund, the capital city of the Erongo Region and Namibia’s fourth largest settlement, is located approximately 165 km due south of the Uis Lithium project, while the Namibian capital city of Windhoek is located approximately 270 km southeast of the Uis Lithium project. The Uis Lithium project boasts more than 80 mapped pegmatites across the project area, with many of the pegmatites having been mined historically for tin and semi-precious stone. An abundance of altered spodumene is visible both within the workings and the mined rock around the workings.

Commenting on the significant expansion of the Uis Lithium Project, Executive Director, Mr Gino D’Anna, stated:

“The significant expansion of the Uis Lithium project underpins the transformational change that is underway for the company as we expand our exposure to the battery metals sector. The initial acquisition of EPL 7345 sat directly in between the Uis mine and the B1/C1 Mining Licence both owned by AfriTin Mining plc. The acquisition of EPL 8535 significantly complements this strategic position as we expand our holding at the Uis Lithium project to more than 300 km² in an area that can only be described as the best real-estate in Namibian lithium. To acquire a second advanced exploration licence within 2.5 km from an operating mine sharing the same geology and mineralised pegmatites is remarkable, and something that the company is very proud of achieving. The Uis Lithium project not only boasts exceptional lithium, tantalum, tin and rubidium mineralisation, but is located less than 230 km from the deep water port of Walvis Bay. Infrastructure in this region is readily accessible with a well-maintained network of roads direct to site as well as access to power and water.

"An initial site evaluation campaign was completed at EPL 8535 during which only seven samples were collected to provide a high-level overview of the project area. These results identified spodumene rich mineralisation with grades up to 3.2% Li₂O as well as high-grade tantalum up to 663 ppm Ta and highgrade rubidium up to 1640 ppm Rb. It is not very often that a company is able to achieve such a high standard of mineralisation and we are clearly excited by what we have seen. A due diligence field sampling and mapping campaign is nearing completion with more than 150 samples collected to date."

Read the article online at: https://www.globalminingreview.com/mining/07122022/askari-metals-acquires-lithium-project-in-namibia/