LONDON (Alliance News) - Kazera Global PLC on Friday said results continue to be positive from the Tantalite Valley mine near Warmbad, Namibia.
Kazera has a 75% stake in African Tantalum Pty Ltd, which in turn owns the mine.
Aftan has drilled 22 of 33 planned holes and has assayed 432 core samples at 72 channel samples.
At the Homestead prospect, visual observation indicates spodumene and lepidolite mineralisation contains lithium, with tantalum mineralisation also seen in tantalite deposits.
Spodumene and lepidolite are both minerals which host lithium. Tantalum, which is highly resistant to corrosion, is used in small capacitors for electronic devices and also for alloys.
At the Purple Haze prospect, Aftan expects to complete drilling by the end of the first quarter, when it will then move to the Signaalberg target.
An ore resource is expected for both Homestead and Purple Haze by the end of the first quarter of 2019.
Kazera Chief Executive Larry Johnson said: "The drilling programme continues to produce highly encouraging results with encountered mineralisation indicating the potential to produce lithium and tantalum commercially.
"We still anticipate having the initial ore resource report in first quarter 2019 on Homestead and Purple Haze, after which we can start to formulate the highest value mine plan for the total area."
Kazera shares were untraded on Friday, last quoted at a price of 1.93 pence each.
Kazera Global (KZG)