Investee Company Operational Update

RNS Number : 4076G

Kazera Global PLC

06 November 2018

 

6 November 2018

Kazera Global

Investee Company Operational Update

Kazera Global plc ("Kazera Global" or "the Company") the AIM quoted investment company who, through its stake in African Tantalum (Pty) Limited ("Aftan"), has an interest in the Namibia Tantalite Investment Mine ("NTI" or the "Mine") in Namibia, provides the following operational update.

Aftan has now drilled and assayed 360 cores with further cores and channel sampling sent for assay. Based upon results to date, the Company is drilling further boreholes in order to comprehensively test the tantalum and lithium bearing pegmatites at locations Homestead and Purple Haze, formerly referred to as Lepidolite. 

The Company has posted on its website the maps and details of the pegmatite interprets of the drilling programme at Homestead and Purple Haze, a link to which can be found below.

https://kazeraglobal.com/wp-content/uploads/2018/11/MSA-Map-1.jpg

On completion of the drilling programme at Homestead and Purple Haze, drilling will move to targets Signaalberg and White City.

Homestead Drilling

·  Two tantalum interceptions were made at DHHM01 and DHHM03. Borehole DHHM01 intersected approximately 4m of tantalite rich material with a grade of 3515.35ppm Ta2O5. Borehole DHHM03 intersected two intersections:

o  0.5m of pegmatite with a grade of 12149.41 ppm Ta2O5; and

o  0.5m of pegmatite with a grade of 4139.35 ppm Ta2O5.

·    Visible spodumene and lepidolite (lithium bearing mineral) mineralisation has been observed inside the mine.

·   Channel sampling programme is currently being conducted in the mine to define the spodumene and lepidolite mineralisation observed. The Homestead cores are characterised by low grade lithium and high grade tantalum.

·    Three additional bore holes at Homestead are expected to be drilled by the end of the year, bringing      drilling at Homestead to completion. Aftan will drill one or two of these bore holes to 150m to test for deeper buried mineralisation.

Purple Haze Drilling

·     The results from the Purple Haze Pegmatite indicated encouraging lithium mineralisation. At present, the highest lithium intercepts were observed in boreholes DHLP02 and DHLP03, which intersected approximately 1 metre thick lepidolite zones at a grade of 3.01 % and 3.59% Li2O respectively.

·    The highest grade tantalum intercepts were again observed in DHLP02 and DHLP03 over the same      lithium rich interval with a grade of 942.65 and 543.83 ppm Ta2O5 respectively. 3 further bore holes will be drilled and 4 channel samples will be completed by the year end.

·   The mineralisation at Purple Haze indicates the potential for a primary lithium product and secondary tantalum product given strong directly proportional relationship between lithium and tantalum mineralisation.

·      XRD was used to determine the various lithium mineralization types.

·      Details of the drilling is on the website.

The Company's technical advisers, MSA Group, have indicated that they expect to produce an ore resource report for Homestead and Purple Haze by the end of Q1 2019. The Company intends to carry out drilling on the Signaalberg and White City pegmatites to move to an ore resource report for all those areas during 2019.

Offtake agreement

The company has now entered into discussions initiated with several potential interested parties wishing to be the sole offtaker of tantalum and lithium from the mine and detailed due diligence is currently being carried out.

Significant Assay Results

https://kazeraglobal.com/wp-content/uploads/2018/11/Assay_results_update_061118.pdf

Map

https://kazeraglobal.com/wp-content/uploads/2018/11/MSA-Map-1.jpg

Larry Johnson, CEO, said:

"The drilling programme continues in line with expectations and these initial results are highly encouraging with the mineralisation demonstrating that we have the potential for the mine to produce commercially two products, lithium and tantalum.

Further drilling will provide important clarity to the life of mine and inherent values in the entire area. We expect to have the initial ore resource report in Q1 2019 on Homestead and Purple Haze, after which we can start to formulate the highest value mine plan for the total area."

**ENDS**

Kazera Global plc (c/o Camarco)	Tel: [phone]
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint broker) Christopher Raggett / Scott Mathieson / Anthony Adams (corporate finance)	Tel: [phone]
Shore Capital (Joint broker) Mark Percy / Toby Gibbs (corporate finance) Jerry Keen (corporate broking)	Tel: [phone]
Camarco (PR) Gordon Poole / James Crothers / Monique Perks	Tel: [phone]

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 "Competent Person's Statement

In accordance with the AIM Note for Mining and Oil and Gas Companies, Kazera Global discloses that Michael Cronwright of MSA Group, is the qualified person that has reviewed the technical information contained in this document. Michael Cronwright has a Pr.Sci.Nat with the South African Council for Natural Scientific Professions ("SACNASP") and is a member in good standing with SACNASP. Mr Cronwright has the appropriate relevant qualifications, experience, competence and independence to act as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Michael Cronwright consents to the inclusion of the information in this announcement in the form and context in which it appears."

 

END

 

 

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