LONDON (Alliance News) - Kazera Global PLC on Thursday said it expects its exploration campaign to identify the mineralisation at the Tantalite investment mine in Namibia.
The investment company holds an interest in the Namibia Tantalite Investment Mine through its stake in African Tantalum Pty Ltd.
Kazera said the early drilling campaign, undertaken by the exploration insurance provider MSA Group, at Tantalite Valley looks "encouraging". The company expects the drilling campaign to define available mineral resources and assess the value of the operations.
Kazera said it redirected the workforce at the mine toward building access roads in the steep terrain of Signaalberg in order to target exploration zones and potential mining orebodies in the licence area.
Meanwhile, Kazera's partner African Tantalum has suspended the ore processing operations at Tantalite Valley while the exploration campaign takes place and a conclusive long-term mine plan is developed.
In addition, the company said it was approached by a number of potential customers for African Tantalum's product, and it is currently exploring these opportunities to deliver additional long-term value.
"I am pleased to report positive momentum in the exploration campaign and I am excited to see the results as it develops," said Chief Executive Larry Johnson. "I look forward to reporting updates on the results of drilling and analysis of specific ore bodies when they come available."
Shares in Kazera were trading 5.4% higher on Thursday at 1.66 pence each.
Kazera Global (KZG)