Kazera Global plc ("Kazera Global", "Kazera" or "the Company"), the AIM quoted investment company who, through its stake in African Tantalum (Pty) Limited ("Aftan"), has an interest in the Namibia Tantalite Investment Mine ("NTI" or the "Mine") in Namibia, is pleased to provide the following operational update.
Having drilled 22 of the 33 planned boreholes over NTI, Aftan has now assayed 432 core samples and 72 channel samples with additional cores and channels from both Homestead and Purple Haze to be sent for assay sampling by early February 2019.
Homestead Drilling Update
The channel sampling programme at Homestead has now been concluded following the collection of 68 samples from 16 channels. Visual observations indicate that spodumene and subordinate lepidolite mineralisation contain lithium mineralisation and that Tantalum mineralisation is hosted in the tantalite deposits. The Company continues to perform XRD analysis to confirm lithium mineralogy.
Results for DHHM14 reported;
Section 2B - 1.0m @ 1.70% Li2O
Section 4A - 1.0m @ 2350.62 ppm Ta2O5
Section 2A - 4.0m @ 1.67% Li2O
Section 1D - 1.0m @ 956.12 ppm Ta2O5
Section 1C - 2.0m @ 1.55% Li2O
Section 1D - 2.0m @ 820.21 ppm Ta2O5
The Company has posted on its website the updated maps and details of the pegmatite interprets of the drilling programme of Homestead, a link to which can be found below.
Aftan and Kazera continue to drill further boreholes at Purple Haze, formerly referred to as Lepidolite, to comprehensively test the tantalum and lithium bearing pegmatites. Completion of the drill campaign and sampling is now estimated to be completed in Q1 2019. Once complete, the Company plans to move the drilling campaign to the Signaalberg target.
The Company's technical advisers, MSA Group, continue to indicate that they expect to produce an ore resource report for Homestead and Purple Haze by the end of Q1 2019. The Company is still on track to start drilling on the Signaalberg and White City pegmatites in the next few months moving to an ore resource report for all those areas during 2019.
The Company continues discussions with several interested parties wishing to be the sole off taker of tantalum and lithium from the mine and we continue our detailed due diligence.
"The drilling programme continues to produce highly encouraging results with encountered mineralisation indicating the potential to produce lithium and tantalum commercially.
We still anticipate having the initial ore resource report in Q1 2019 on Homestead and Purple Haze, after which we can start to formulate the highest value mine plan for the total area. We look forward to updating shareholders on our progress in the near future."
Kazera Global plc (c/o Camarco)
Tel: +44 (0)203 757 4980
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint broker)
Christopher Raggett / Scott Mathieson / Anthony Adams (corporate finance)
Tel: +44 (0)207 220 0500
Shore Capital (Joint broker)
Mark Percy / Toby Gibbs (corporate finance)
Jerry Keen (corporate broking)
Tel: +44 (0)207 408 4090
Gordon Poole / James Crothers / Monique Perks
Tel: +44 (0)203 781 8331
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Competent Person's Statement
In accordance with the AIM Note for Mining and Oil and Gas Companies, Kazera Global discloses that Michael Cronwright of MSA Group, is the qualified person that has reviewed the technical information contained in this document. Michael Cronwright has a Pr.Sci.Nat with the South African Council for Natural Scientific Professions ("SACNASP") and is a member in good standing with SACNASP. Mr Cronwright has the appropriate relevant qualifications, experience, competence and independence to act as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Michael Cronwright consents to the inclusion of the information in this announcement in the form and context in which it appears.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
Create your account: sign up and get ahead on news and events
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...