Prospect Resources is seeking potential partnerships, joint ventures, or sale processes that could unlock Omaruru’s longer-term value once lithium market conditions improve.
The company has shifted strategy after completing its Phase 2 drilling programme and acquiring a full 100 per cent interest in the project, located near Wilhelmstal east of Karibib in Namibia’s Erongo Region.
The Omaruru Lithium Project is situated within the Karibib Pegmatite Belt. This area hosts over 65 lithium-caesium-tantalum (LCT) pegmatites, which have historically been worked for their lithium minerals and gemstones.
Prospect originally entered Omaruru through a joint venture with Osino Resources, which provided a pathway to earn a stake in the licences.
That arrangement culminated in March 2024, when Prospect acquired Osino’s remaining 60 per cent interest in Richwing Exploration, thereby consolidating full ownership of EPL 5533.
Exploration has advanced in several stages. Osino’s baseline programme, conducted between 2019 and 2021, included mapping, sampling, and 16 RC drillholes, totalling 1,942 metres at the Karlsbrunn pegmatite, which confirmed spodumene-bearing zones with intercepts ranging from 1.0 to 1.2 per cent Li₂O.
Prospect’s Phase 1 RC drilling in 2023 broadened the scope, returning strong results from Southern Brockmans, including 6 metres at 1.30 per cent Li₂O from 13 metres (within 14 metres at 0.79 per cent Li₂O), 8 metres at 0.99 per cent Li₂O from 6 metres, and 11 metres at 0.95 per cent Li₂O from 51 metres.
At Karlsbrunn, highlights included 10 metres at 0.88 per cent Li₂O from 35 metres and 11 metres at 0.80 per cent Li₂O from 35 metres. Metallurgical samples were also collected from Karlsbrunn, Brockmans and Hillside pegmatites.
The Phase 2 drilling programme in early 2024 expanded coverage across priority pegmatites and identified new anomalies through regional geochemical surveys, indicating the potential for previously unexplored blind pegmatites.
With ownership consolidated and the immediate joint venture obligations satisfied, Prospect has scaled back field expenditure to minimum licence-holding requirements.
The company has made it clear that its focus now rests on commercialisation strategies, seeking ways to leverage the confirmed mineralisation at Karlsbrunn, Brockmans, and Hillside into longer-term value for shareholders and Namibia’s growing battery minerals sector.
