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LONDON (Alliance News) - Kazera Global PLC said Tuesday that its investee African Tantalum Pty Ltd drilled and assayed 360 cores in its drilling campaign at the tantalite mine in Namibia.
Kazera said that, based on drilling results to date, African Tantalum is drilling further boreholes "in order to comprehensively test the tantalum and lithium bearing pegmatites at locations Homestead and Purple Haze".
At Homestead, two tantalum interceptions were recorded and visible spodumene and lepidolite, a lithium bearing mineral.
At Purple Haze early results indicate "encouraging lithium mineralisation", the company added.
Kazera Chief Executive Larry Johnson 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."
Kazera shares were trading down 4.6% at 2.34 pence each.