Arcadia Minerals has secured N$1.7 million (A$150,000) working capital for the ongoing discussions regarding funding the Swanson Mining Project and potential farm-out joint ventures for the Karibib Gold and Copper Project and the TVC Tantalum, Lithium, Nickel and PGE Projects.
Arcadia Minerals, domiciled in Guernsey, explores for a suite of new-era metals in Namibia.
The Swanson Mining Project is an advanced tantalum mining project undergoing development to become a mining operation, and which contains a potentially expanding JORC Mineral Resource within the Swanson Project area.
Arcadia Minerals stated in its quarterly report for March 2025 that it needs ~US$9.8 million for the remaining construction funding after HeBei Construction failed to complete the project as agreed.
TVC Pegmatite Project is prospective for lithium, tantalum and other associated minerals, while the Karibib Project is prospective for copper and gold.
The company has planned a 1,000m reverse circulation drilling program comprising ~15 holes to test outcropping mineralisation and IP anomalies interpreted as potential strike extensions at the Karibib Project.
Arcadia Minerals is also focusing on the Bitterwasser Lithium in Clay Project, the Bitterwasser Lithium in Brines Project and the Kum-Kum Project, which is prospective for nickel, copper, and platinum group elements.
Arcadia Minerals non-executive chairperson Jurie Wessels says the interim funding is intended to fulfil the working capital requirements of the company under challenging market conditions to pursue the successful conclusion of funding and collaboration ventures with the several parties who have expressed an interest in the Swanson Mining Project, TVC Tantalum, Lithium, Nickel and PGE Exploration Projects and the Karibib Gold and Copper Project.
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