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Kazera Global highlights encouraging drill results in Namibia

“We still anticipate having the initial ore resource report in Q1 2019 on Homestead and Purple Haze," said Larry Johnson

Drilling programmes continue in Namibia

Kazera Global PLC (LON:KZG) told investors that its drill programme at its Namibia Tantalite Investment (NTI) mine project continues to produce highly encouraging results.

The company noted that it has so far drilled 22 of 33 planned holes at NTI, and, assays have been produced for 432 core samples and 72 channel samples.

"The drilling programme continues to produce highly encouraging results with encountered mineralisation indicating the potential to produce lithium and tantalum commercially,” said Larry Johnson, Kazera chief executive.

READ: Kazera Global focused on its targeted exploration programme

“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."

At Homestead, sampling work has concluded and the company noted that visual observations indicate that the spodumene and subordinate lepidolite mineralisation contain lithium mineralisation, and, that Tantalum mineralisation is hosted in the tantalite deposits.

Highlight drill results included lithium grades up to 1.7% and tantalum measuring 2,350 parts per million.

Meanwhile, at the Purple Haze project area drilling continues to comprehensively test tantalum and lithium bearing pegmatites.

The programme is due to complete in the first quarter and subsequently, it plans to move the drilling campaign to the Signaalberg area.

Kazera notes that its technical advisers expect to produce an ore resource report for Homestead and Purple Haze by the end of the first quarter.

Drilling will take place at the Signaalberg and White City pegmatites in the next few months so during this year those areas will be moved towards ore resource reports.

At the same time, Kazera said it continues talks with several interested parties to become the sole off-taker of tantalum and lithium, detailed due diligence is ongoing.

Quick facts: Kazera Global PLC

Price: 0.4555 GBX

Market: AIM
Market Cap: £1.61 m

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