Kazera Global PLC Investee Company Operational Update (4374N)
January 18 2019 - 2:00AM
UK Regulatory
TIDMKZG
RNS Number : 4374N
Kazera Global PLC
18 January 2019
18 January 2019
Kazera Global
Investee Company Operational Update
Kazera Global plc ("Kazera Global", "Kazera" 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, is
pleased to provide the following operational update.
Having drilled 22 of the 33 planned boreholes over NTI, Aftan
has now assayed 432 core samples and 72 channel samples with
additional cores and channels from both Homestead and Purple Haze
to be sent for assay sampling by early February 2019.
Homestead Drilling Update
The channel sampling programme at Homestead has now been
concluded following the collection of 68 samples from 16 channels.
Visual observations indicate that spodumene and subordinate
lepidolite mineralisation contain lithium mineralisation and that
Tantalum mineralisation is hosted in the tantalite deposits. The
Company continues to perform XRD analysis to confirm lithium
mineralogy.
Results for DHHM14 reported;
Lithium Results Tantalum Results
Section 2B - 1.0m @ 1.70% Li(2) Section 4A - 1.0m @ 2350.62
O ppm Ta(2) O(5)
------------------------------------------
Section 2A - 4.0m @ 1.67% Li(2) Section 1D - 1.0m @ 956.12
O ppm Ta(2) O(5)
------------------------------------------
Section 1C - 2.0m @ 1.55% Li(2) Section 1D - 2.0m @ 820.21
O ppm Ta(2) O(5)
------------------------------------------
The Company has posted on its website the updated maps and
details of the pegmatite interprets of the drilling programme of
Homestead, a link to which can be found below.
https://kazeraglobal.com/wp-content/uploads/2019/01/Location-Map.png
Purple Haze Drilling
Aftan and Kazera continue to drill further boreholes at Purple
Haze, formerly referred to as Lepidolite, to comprehensively test
the tantalum and lithium bearing pegmatites. Completion of the
drill campaign and sampling is now estimated to be completed in Q1
2019. Once complete, the Company plans to move the drilling
campaign to the Signaalberg target.
The Company's technical advisers, MSA Group, continue to
indicate that they expect to produce an ore resource report for
Homestead and Purple Haze by the end of Q1 2019. The Company is
still on track to start drilling on the Signaalberg and White City
pegmatites in the next few months moving to an ore resource report
for all those areas during 2019.
Offtake agreement
The Company continues discussions with several interested
parties wishing to be the sole off taker of tantalum and lithium
from the mine and we continue our detailed due diligence.
Significant Assay Results
https://kazeraglobal.com/wp-content/uploads/2019/01/MSA-Summary-Jan-2019.pdf
Larry Johnson, CEO of Kazera, 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 Q1
2019 on Homestead and Purple Haze, after which we can start to
formulate the highest value mine plan for the total area. We look
forward to updating shareholders on our progress in the near
future."
**ENDS**
Kazera Global plc (c/o Camarco) Tel: +44 (0)203 757
4980
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint Tel: +44 (0)207 220
broker) 0500
Christopher Raggett / Scott Mathieson
/ Anthony Adams (corporate finance)
Shore Capital (Joint broker) Tel: +44 (0)207 408
Mark Percy / Toby Gibbs (corporate 4090
finance)
Jerry Keen (corporate broking)
Camarco (PR) Tel: +44 (0)203 781
Gordon Poole / James Crothers / Monique 8331
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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