Askari Metals inks HoA deal for 2nd lithium project in Namibia

Askari Metals has sealed a binding heads of agreement (HoA) with Earth Dimensions Consulting for a second lithium project in Namibia.

Askari Metals executive director Gino D’Anna made the announcement and said the firm has acquired an 80% stake in the latter, which owns 100% of Exclusive Prospecting Licence (EPL) 8535 in Namibia.

“This acquisition complements the Askari Metals’ expansion goals at the Uis Lithium Project,” said Gino D’Anna.

The lithium prospective tenement is located near the town of Uis and covers an area of about 195km2. Uis Lithium project boasts more than 80 mapped pegmatites across the project area, with many of the pegmatites having been mined historically for tin and semi-precious stone. An abundance of altered spodumene is visible both within the workings and the mined rock around the workings.

Evaluation programme

As a part of its initial field evaluation programme in October 2022, Askari Metals collected high-grade pegmatite samples from the surface of the new tenement. The seven samples collected were analysed to find the presence of various elements including lithium, caesium, tin, rubidium, niobium, and tantalum. Askari Metals is fully permitted to conduct a reverse circulation (RC) drilling campaign of up to 3,500m to test the mineralisation of the pegmatites beneath the surface at EPL 8535.

“The significant expansion of the Uis Lithium project underpins the transformational change that is underway for the company as we expand our exposure to the battery metals sector. The initial acquisition of EPL 7345 sat directly in between the Uis mine and the B1/C1 Mining Licence both owned by AfriTin Mining plc.

The acquisition of EPL 8535 significantly complements this strategic position as we expand our holding at the Uis Lithium project to more than 300 km2 in an area that can only be described as the best real-estate in Namibian lithium. To acquire a second advanced exploration licence within 2.5 km from an operating mine sharing the same geology and mineralised pegmatites is remarkable, and something that the company is very proud of achieving. The Uis Lithium project not only boasts exceptional lithium, tantalum, tin and rubidium mineralisation, but is located less than 230 km from the deep water port of Walvis Bay. Infrastructure in this region is readily accessible with a well-maintained network of roads direct to site as well as access to power and water

“An initial site evaluation campaign was completed at EPL 8535 during which only seven samples were collected to provide a high-level overview of the project area. These results identified spodumene rich mineralisation with grades up to 3.2% Li2O as well as high-grade tantalum up to 663 ppm Ta and highgrade rubidium up to 1640 ppm Rb. It is not very often that a company is able to achieve such a high standard of mineralisation and we are clearly excited by what we have seen. A due diligence field sampling and mapping campaign is nearing completion with more than 150 samples collected to date,” said director Gino D’Anna.

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