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Maiden Mineral Resource at White City Deposit

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RNS Number : 2881V
Kazera Global PLC
02 December 2019
 

02 December 2019

Kazera Global plc

 

JORC (2012) compliant Maiden Mineral Resource at White City Deposit

 

Kazera Global plc ("Kazera Global", "Kazera" or the "Company"), the AIM quoted investment company which, through its stake in African Tantalum (Pty) Limited ("Aftan"), has an interest in the Namibia Tantalite Investment Mine ("NTI" or the "Mine") is pleased to announce the completion of a maiden JORC Compliant Mineral Resources Estimate for the White City Pegmatite as part of the ongoing exploration programme at the Mine.

Highlights:

·      Maiden Inferred Tantalite Resource at White City Deposit of 297,600 tonnes, in line with the Company's pre-exploration programme expectations.

·      Strong grades of 105 parts per million Ta2O5 measured.

·      10 diamond drillholes spaced approximately 15m to 20m were drilled over White City, cumulatively drilling a total of 304.5m.

·      Across White City, Purple Haze and Homestead, the mine now has a maiden JORC Compliant Mineral Resource Estimate of 622,200 tonnes of lithium and tantalite resources.

Completed by the MSA Group, the maiden Mineral Resources Estimate over White City indicate an inferred tantalite resource at White City of 297,600 tonnes, consistent with the Company's pre-exploration programme expectations. Across the deposit, strong grades were shown, with an average grade of 105 parts per million ("ppm") Ta2O5.

These results confirm previous exploration results at White City and gives confidence to the Company that continued exploration can realise further resources from the deposit.

A lithium Mineral Resource estimate was not completed as part of the mineral resource estimate due to the sparse number of lithium assays (lithium assays were only performed on the recent core samples) and their high variability.

 

Kazera Trading

Further to the highly encouraging ongoing exploration activity at NTI, the Company has registered a subsidiary named Kazera Trading, which will operate in conjunction with Kazera Global. Kazera Trading will function as an ore trading arm of the Company facilitating the global movement of resources such as tantalum, through leveraging the experience of Kazera's management. Initial trades have already been agreed and the Company will provide further updates to shortly.

 

Larry Johnson, Chief Executive Officer of Kazera Global Plc commented:

"The findings from White City demonstrate another excellent result for the Company following the announcement of our initial maiden JORC compliant Mineral Resource estimates over the Homestead and Purple Haze deposits. We now have cumulative indicated and inferred maiden JORC Compliant tantalite and lithium resources of 622,200 tonnes across NTI, with very strong grades indicated across the Mine and with further results to come. This places the NTI mine in a positive position to close out the remainder of it's Phase 1 exploration drilling programme which we aim to complete before the end of the year.

Further to this, I am delighted to have commenced work on our new trading arm, Kazera Trading, which we have set up to utilise the Company's global connections, connecting buyers and sellers of heavy metal and rare earth element ores. We look forward to updating shareholders on this exciting new initiative which we anticipate will deliver solid revenue for the Company going forward."

 

Background to White City

The White City pegmatite is located northeast of the Homestead pegmatite, where the current mining operation is focused at Tantalite Valley. White City is a dome-shaped pegmatite, with visible tantalum-lithium mineralisation on exposed pegmatite faces. Portions of the White City pegmatite are exposed on a slope parallel with the dip of the pegmatite body, as well as in a relatively large open-pit excavation on the eastern exposure of the pegmatite body. White City has previously been explored and partially mined from the open cut and other historical small-scale mining from exposures on the dip-slope.

A mining cut was excavated from the base of the valley intermittently along a strike length of approximately 20 m. The mining was of limited extent, only penetrating a few metres into the slope. This excavation allowed for detailed mapping of the pegmatite and interpretation of the mineral domains. Much of the blasted material is stockpiled nearby.

As part of receiving a JORC Compliant Mineral Resource number at White City, the deposit has been sampled by drilling over a strike length of approximately 170 m from north to south having been partially exposed over a dip length of approximately 190 m. The central portions of the pegmatite comprise mainly quartz and albite. Tantalite is distributed throughout the pegmatite over thicknesses varying from approximately 1 m to 16 m. The area is partially explored with recent drilling being focussed on verifying the occurrences identified by historical exploration.

 

MSA Group Report: JORC (2012) Complaint Maiden Mineral Resource Estimate for White City, as at 19 November 2019

Table 1: Table 1: White City Pegmatite Tantalum Mineral Resource as at 19 November 2019 at a cut-off grade of 80 ppm Ta2O5

Category

Tonnes

Ta2O5

Ta2O5 kg

Li2O

(Thousands)

(ppm)

(Thousands)

(%)

Inferred

297.6

105

31.2

-

Notes:

1. All tabulated data have been rounded and as a result minor computational errors may occur.

2. Mineral Resources which are not Ore Reserves have no demonstrated economic viability.

3. The Mineral Resource is reported as 100% of the Mineral Resource for the project.

4. Depleted by the extent of historical mine workings.

5. Mineral Resources were estimated using a cut-off grade of 80 ppm Ta2O5.

 

 

**ENDS**

Kazera Global plc (c/o Camarco)

Larry Johnson (CEO)

Tel: +44 (0)203 757 4980

 

finnCap (Nominated Adviser and Joint broker)

Scott Mathieson / Anthony Adams (corporate finance) 

Tel: +44 (0)207 220 0500

 

Shore Capital (Joint broker)

Jerry Keen (corporate broking)

 Tel: +44 (0)207 408 4090

 

Peterhouse Corporate Finance Limited

Duncan Vasey / Lucy Williams            

Tel: +44 (0)207 220 9797  

 

Camarco (PR)

Gordon Poole / James Crothers / Monique Perks


 

The technical information contained in this disclosure has been read and approved by Mr Jeremy Witley (Pr. Sci. Nat., FGSSA), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Jeremy Witley has visited the NTI Mine site and reviewed MSA's drilling and sampling protocols and procedures. Mr Witley is a Principal Mineral Resource Consultant working for the MSA Group Pty Ltd, which has been engaged by Kazera Global to provide technical support.

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.

 


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.
 
END
 
 
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