Askari Metals Limited (ASX: AS2) has obtained promising results from due diligence samples collected during the acquisition of Exclusive Prospecting Licence (EPL) 8535, part of the Uis Lithium Project, located in the Erongo Region of central-west Namibia.
The Uis Lithium Project comprises both EPL 7345 and EPL 8535 and covers an area of 308.12sq. km in a highly mineralized, spodumene rich pegmatite belt with a history of prior production and exploration success.
A total of 162 rock chip samples were collected from EPL 8535 during the due diligence phase of the tenement acquisition. Sampling was conducted over exposed pegmatites and included several old artisanal workings mined for either tin or semi-precious stones.
Several of the pegmatites are characterized by coloured tourmalines (green and blue especially), as well as examples of altered/weathered spodumene and lepidolite crystals. Some weathered cassiterite was also identified.
VP Geology and Exploration, Johan Lambrechts, said the overall outcome of the due diligence sampling campaign is exceptionally positive, yielding five results greater than 3% Li2O and eight results greater than 1% Li2O. Excellent results were also returned for tin mineralization, with one sample assaying 3.2% SnO2 and 10 samples producing results greater than 1,875ppm Sn (0.24% SnO2).
Tantalum results were highly positive, with 42 samples returning results greater than 100ppm Ta and two samples with results greater than 1,000ppm Ta. There were also indications of very strong rubidium with results up to 7,980ppm Rb.
EPL 8535 forms part of the Uis Lithium Project (Uis Project) and is located less than 17km from the town of Uis and adjacent to the operating Uis Mine, owned by London-listed Andrada Mining Limited.
“These extraordinary results from the due diligence sampling campaign are significant for Askari, including five results greater than 3% Li2O, ten results greater than 0.24% tin and forty-two results greater than 100ppm tantalum,” Mr Lambrechts said.
“The company has been rewarded for its commitment to unlocking mineral resource potential as efficiently as possible, and strategically manoeuvring to capture shareholder value through the acquisition of the Uis Lithium project next door to an operating world-class tin, tantalum, lithium mine.
“Askari is strategically advancing its drive toward the top of the lithium exploration field in Namibia. We see immense potential in our growing Namibian portfolio as we believe the country hosts significant and untapped lithium and critical mineral riches vital for the global energy transition to a lower carbon future.
“The first phase of drilling EPL 8535 is imminent and exploration work on the neighbouring EPL 7345 licence continues to progress. We are incredibly excited about the future and look forward to keeping our shareholders informed as we progress.”
For further information please visit: https://www.askarimetals.com