TIDMKZG
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: +44 (0)203
757 4980
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint Tel: +44 (0)207
broker) 220 0500
Christopher Raggett / Scott Mathieson
/ Anthony Adams (corporate finance)
Shore Capital (Joint broker) Tel: +44 (0)207
Mark Percy / Toby Gibbs (corporate finance) 408 4090
Jerry Keen (corporate broking)
Camarco (PR) Tel: +44 (0)203
Gordon Poole / James Crothers / Monique 757 4980
Perks
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."
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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