Walkabout Resources Ltd (ASX:WKT) has filed applications for three prospecting licenses in a known lithium-spodumene setting 120 kilometres north of Walvis Bay in Namibia.
This builds on the company's recent entry into the lithium space through its filed applications in Tanzania.
Allan Mulligan, managing director, commented: “This historic pegmatite and tin mining area has a long history of localised, opportunistic mining.
"Lithium, while present has never previously been the focus of exploration and we believe much can be achieved through the introduction of a fresh exploration approach targeting these lithium and pegmatite ranges.
"Much of the unexplored potential may be located under shallow cover. One site in particular has also been identified as a potential lithium brine site.
"This consolidates our plan to further diversify into the fast developing supply chain for lithium ion batteries.”
Tenement details
The 304 square kilometres of tenements in Namibia cover portions of the Strathmore pegmatite swarm, located within the Cape Cross-Uis pegmatite belt.
Pegmatites up to 120 metres in length and 40 metres wide outcrop at surface within the Strathmore swarm and the area has not been subjected to modern exploration for lithium.
Recent regional mapping in the area revealed that the zoned pegmatites contain well-developed Li-rich zones with assays of the spodumene rich zones returning values of up to 7.5% Li2O.
Namibia
Namibia has a history of mining for lithium with the bulk of the historical mining occurring in the well exposed Karibib pegmatite belt 150 kilometres to the southeast of the application area.
The Erongo Region of Namibia is further well known for the mining of, amongst others lithium, uranium, gold, copper and tin.
Background
Walkabout is also currently fast tracking its Lindi Jumbo Graphite Project in south eastern Tanzania.
The graphite resources is high grade at 11.7 million tonnes graded at11.9% total graphitic content and is mineralised from surface.
The project is projected to be producing graphite in early 2017.
Analysis
Walkabout's share price has been on a run over the past three months up circa 50% to $0.006.
The three prospecting license applications build on the recent 475 square kilometres of Tanzanian applications and provide Walkabout with further exposure to another key demand-driven commodity being lithium.
Upon approval, we expect mapping and sampling to begin, giving Walkabout shareholders exposure to exploration news flow on multiple fronts.
The lithium market is experiencing favourable supply demand dynamics, which are a result of growing global lithium-ion battery market.
Walkabout’s team has a proven track record of delineating suitably sized resources in a short period of time.
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