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Prospect Resources Limited earned a 40% interest in the Omaruru Lithium Project in Namibia by completing a series of exploration activities, including drilling, sampling, and geophysical surveys. The company has now completed all of these activities and has met all of the earn-in requirements. This marks a major step forward in the development of the Omaruru Lithium Project.
Prospect Resources Limited earned a 40% interest in the Omaruru Lithium Project in Namibia by completing a series of exploration activities, including drilling, sampling, and geophysical surveys. The company has now completed all of these activities and has met all of the earn-in requirements. This marks a major step forward in the development of the Omaruru Lithium Project.
Prospect is now eligible to move forward with Phase 2, which will involve further drilling and exploration to further define the lithium mineralisation at Omaruru. The company plans to complete a ground geophysical survey and a metallurgical test work program in the near future. If it successfully completes Phase 2 of the earn-in agreement, it will earn an additional 10% interest in the project, for a total of 50%.
The Omaruru Lithium Project is located in the Erongo region of Namibia, approximately 200 kilometres north of the capital, Windhoek. The project covers an area of 175 square kilometres and is situated in close proximity to several other lithium projects, including the Karibib Lithium Project and the Otjihase Lithium Project.
The project is well-positioned to benefit from the growing demand for lithium, which is a key component in the production of batteries for electric vehicles and other electronic devices. The company believes that the Omaruru Lithium Project has the potential to be a major supplier of lithium to the global market.
Read Also:
https://trendsnafrica.com/namibia-in-the-league-of-top-african-nations-poised-for-lithium-boom/
https://trendsnafrica.com/germany-pledges-to-help-namibia-set-up-lithium-processing-plants/
Prospect Resources Limited is an Australian-based mineral exploration and development company focussed on opportunities in critical battery and electrification metals. Prospect Resources Limited has a team that possesses deep, proven expertise in efficiently exploring for, rapidly advancing, and successfully delivering world-class mineral projects in Africa. It is based across Perth, Western Australia, and Harare, Zimbabwe, and is applying its specialist skill set to identifying, acquiring, progressing, and building the next wave of battery and electrification metals projects across sub-Saharan Africa.
