5th Jul 2019 11:30
(Alliance News) - Kazera Global PLC on Friday announced maiden JORC-compliant resources for the Homestead and Purple Haze deposits at its Namibia Tantalite Investment mine.
Shares in Kazera were up 16% at 1.91 pence in late morning trade.
The combined total indicated and inferred tantalite and lithium mineral resource for the two deposits is 324,600 tonnes, and an additional resource upside is likely.
The average grade across the deposits was 323 parts per million of tantalum oxide, with an indicated tantalum mineral resource of 911 per million at Purple Haze.
For lithium, the average grade was 4,410 parts per million of lithium oxide, with 10,800 parts per million in a portion of the Homestead mine mineral resource.
Overall, Homestead had a total indicated and inferred resource of 119,100 tonnes and an average grade of 237 parts per million of tantalum oxide and 3,875 parts per million of lithium oxide.
Purple Haze's total indicated and inferred resource was 125,500 tonnes with an average tantalite grade of 459 parts per million of tantalum oxide and an average lithium grade of 5,259 parts per million of lithium oxide.
"The initial resource numbers at Purple Haze were ahead of what we initially expected and we look forward to additional resources there and at White City, Signaalberg and through additional drilling at Homestead," said Kazera Chief Executive Larry Johnson.
"With a water supply option, government certified via the Orange River, and a maiden JORC compliant mineral resource confirmed, NTI continues to show the capacity to become a long-term mine for stable production. Today's result represents the first of a number of phases in identifying the total mineralization on the portfolio," Johnson added.
Kazera owns a 75% stake in African Tantalum Pty Ltd, owner of Namibia Tantalite Investments - which holds the operating assets and plant - and Tameka Shelf Co, owner of the title and licences to Tantalite Valley.
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