(Alliance News) - Kazera Global PLC said Friday that phase-two drilling at the Tantalite Valley mine has started, in order to further the understanding of the mineralisation on the property, as well as identify its future value.
There will be initial drilling of 600 meters in the Purple Haze and Homestead locations using Namibian-based drilling firm Adamas. Kazera also has enlisted an unnamed earth moving firm to conduct phase two site preparations, and Spes Bona to manage the water required for drilling.
Purple Haze continues to show both lithium and tantalite mineralisation in the physical core samples drilled, while phase-two holes at Homestead have intersected continued pegmatites.
To further prepare, Kazera said it has registered Kazera Trading as its ore-trading subsidiary. Kazera Trading has already agreed initial deals for tantalite and niobium products. Kazera already has a first small shipment out for approval in order for the end-user to test the supply chain.
Kazera Global said it has the working capital necessary the complete the phase-two drilling programme, and expects to generate small revenue streams through Kazera Trading on initial shipments to potential customers.
"Having now moved to the mine permanently, I am delighted to now see operations progressing daily. Our first phase of drilling was a success and has given the company the confidence to now proceed with a second phase; the first phase having only de-risked 30% of our over 450-hectare licence," said Chief Executive Officer Larry Johnson.
"Furthermore, I am conscious to utilise the boards expertise and I am working to diversify us beyond the mine by using it as a launch pad within Namibia to upgrade products while building a global supply chain through Kazera Trading," Johnson added.
Shares in Kazera Global - which is based in Cardiff - were down 2.4% at 0.42 pence on Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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