Walkabout Resources Ltd (ASX:WKT) has received a letter of grant for a second exclusive prospecting licence (EPL) located in southern Namibia.
The company now holds a large footprint of more than 1,500 square kilometres in the highly prospective and underexplored Orange River Pegmatite Belt (ORPB) of Namibia.
Trevor Benson, executive chairman, commented: “The team has been working very hard at securing these premium unexplored licences with 27 kilometres of known pegmatite swarms running through them.
"Our intention is to assemble a pre-dominant holding for lithium prospectivity within Namibia and with these licences now underpinning such a program, this can quickly be realised.”
Walkabout’s shares closed 15.79% higher on Tuesday, at $0.11.
Eureka lithium project has some early positive results
The project is now called the Eureka lithium project in line with its proximity to the Eureka Shear Zone identified across the area.
More than 60 previously unmapped and un-sampled pegmatites have been documented on Walkabout licences that were not previously exposed to modern exploration techniques for lithium.
Importantly, pegmatite swarms with a combined strike length of 27 line kilometres and individual pegmatite bodies up to two kilometres in length have been delineated.
A recent reconnaissance trip to the region has indicated that many of the pegmatites have a high probability of further extending along strike beneath a thin veneer of recent sediments.
The remainder of the project area is predominantly sediment covered with further possibility of discovering “blind” pegmatite bodies along structural target zones.
Recent work by others in the region has confirmed the presence of lithium caesium-tantalum (LCT) type pegmatites with grades of more than 1.6% lithium oxide reported from rock samples.
Upcoming plans
The new license gives Walkabout a commanding landholder position in what is potentially one of the country’s most prospective regions for lithium bearing pegmatites, with known historic lithium occurrences.
The company will proceed with initial pre-exploration environmental reporting prior to a focussed on-site exploration program planned to commence shortly.
Walkabout has also been in ongoing discussions with various landholders to evaluate other opportunities in Namibia, with the negotiations with some in advanced stages.