Exploratory Phase 1 reverse circulation drilling has outlined a new, near-surface shallow-dipping lithium discovery in the southern Brockmans zone of the wider Omaruru project in Namibia.

With only limited drilling undertaken at Brockmans to date, Prospect Resources (ASX:PSC) says the assay results at the Karlsburnn and Brockmans deposits indicate significant prospectivity and scope for identifying larger tonnages of higher-grade lithium mineralisation.

Best results include 6m at 1.30% Li2O from 13m depth, within 14m at 0.79% Li2O from 13m, 8m at 0.99% Li2O from 6m, and 11m at 0.95% Li2O from 51m, with the Karlsbrunn results in line with historical drilling.

Prospect Managing Director Sam Hosack says the Phase 1 earn-in period, which requires the company to invest US$1m over 12 months to earn a 40% interest in the Omaruru project, is shaping up nicely.

Robust grades and widths

“While there is established lithium mineralisation at Omaruru that the Phase 1 drilling was directed at defining and extending, we are excited to have also made a significant new discovery at robust grades and widths,” he says.

“We are currently planning the next phase of work at Omaruru to follow-up these excellent initial outcomes.”

Shares in the stock are up 41.67% year-to-date with plans underway to begin drilling next quarter.

At this stage, the program will encompass both reverse circulation and diamond drilling of Karlsbrunn and Brockmans, as well as potential shallow exploratory drilling of regional ‘blind’ pegmatite targets.

Upcoming maiden resource estimate 

Prospect has also wrapped up detailed sampling of several extensive underground adits, geologically mapped and surveyed at Karlsbrunn, which pass laterally through the deposit at several locations.

These were developed historically to extract petalite and gemstones from the pegmatite, including beryl.

These pending results, along with the surface RC drilling results, are expected to assist in the estimation of a maiden JORC mineral resource for the Karlsbrunn deposit later this year.

Metallurgical sampling

Prospect also recently collected three, 50kg bulk samples of identified lithium mineralisation from the Karlsbrunn, Brockmans and Hillside deposits.

These samples are now set to undergo early-stage metallurgical test work and evaluation in South Africa.

 

 

 

This article was developed in collaboration with Prospect Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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