Prospect Resources Ltd (ASX: PSC) has obtained positive results and interpretation of its recently completed, comprehensive surface geochemical soil sampling programme across several prospects at the Omaruru Lithium Project, located approximately 20km east of the regional centre of Karibib, in central Namibia.
“The high-grade lithium results returned from the adit sampling programme at the Karlsbrunn prospect are extremely promising and underscore the prospectivity of that broad mineralized system,” Prospect’s Managing Director, Sam Hosack, commented.
“Additionally, a systematic and extensive soil sampling programme undertaken across the Omaruru Project has provided the sort of results that we were targeting from this exercise. It is very pleasing to have identified a number of potential ‘under cover’ lithium mineralization targets for prompt drill testing.
“The sizeable surface footprint and strong concentration of some of these geochemical anomalies is very encouraging for the prospects of further discoveries in the short term at Omaruru. We now look forward to drilling these targets as part of our upcoming next-phase RC drilling programmes at Omaruru.”
Project Background
The Omaruru Lithium Project, currently comprising the EPL 5533 tenement, is centred on the village of Wilhelmstal, east of Karibib in Namibia and covers 175 square km. The tenement is located near a number of advanced mining projects, including Osino Resources’ Twin Hills Gold Project and Lepidico’s Karibib Lithium Project.
EPL 5533 contains 60 visible outcropping LCT pegmatites, with historical artisanal workings for gemstones common throughout the tenement and considerable prospectivity for the identification of further lithium-enriched deposits occurring below cover in the region.
Omaruru offers excellent potential for Prospect to delineate a maiden JORC reportable lithium Mineral Resource and identify new deposits to build a project of sufficient scale, as well as establishing a strategic position in Namibia, providing an attractive growth pipeline in the battery minerals sector and continued investment in a desirable jurisdiction of sub-Saharan Africa.
Prospect currently holds a 20% interest in Omaruru via its equivalent shareholding in Richwing Exploration (Pty) Ltd (Richwing), which is 80%-owned by Osino Resources Corp. Prospect is currently earning a further 20% interest in Richwing (and thus Omaruru) via a Phase 1 investment of US$1M over a 12 month period.
For further information please visit: https://prospectresources.com.au/
