The sleepy Wilhelmstal village about 50km east of Karibib could see changes after Prospect Resources announced a drill hit of 33m at 1.18% lithium oxide from 81m in the phase 1 earn-in program.
Prospect Resources is an Australian-based mineral exploration and development company developing the Omaruru Lithium Project.
The Australian company completed the programme over four separate grids, with all 1,241 sample assays now being received and evaluated.
Prospect expects to complete its Phase 2 earn-in the Omaruru Lithium Project during Q4 CY2023.
Comprising the EPL 5533, the Omaruru Lithium Project is centred on the Wilhelmstal village, east of Karibib covering 175 square kilometres.
The Omaruru Lithium Project is near several advanced mining projects, including Osino Resources’ Twin Hills Gold Project and Lepidico’s Karibib Lithium Project.
Prospect Resources holds a 40% interest in the Omaruru Lithium via its equivalent shareholding in Richwing Exploration (Pty) Ltd, 60%-owned by Osino Resources Corp.
The company announced in September 2022 that it will earn a further 11% interest in Richwing Exploration via a Phase 2 investment of US$0.56 million over 12 months.
Prospect Resources managing director Sam Hosack said it is important to highlight that the Omaruru Project encompasses substantial tenure, which has only been systematically explored across relatively constrained areas.
“What our recent field mapping and geochemical soil sampling activities demonstrate is that there are previously unidentified pegmatites at Omaruru with substantial overlain geochemical anomalism.
“This not only provides key targets for further scout discovery drilling at Omaruru but also demonstrates the additional potential that might lie in the largely untapped northern parts of the Omaruru licence.”
Prospect Resources entered Namibia in 2022 after selling its flagship project, Arcadia Lithium Mine, to Zhejiang Huayou Cobalt in Zimbabwe for US$422m cash.
The company owns the Step Aside Lithium Project, about 35km from Harare, which measures 100 hectares and the Kesya Rare Earths Project in southern Zambia’s Kafue region, about 90km from Lusaka.
