Join our daily newsletter At The Bell to receive exclusive market insights
- Askari Metals (AS2) acquires more land for its African-based Uis lithium play in Namibia
- The company now holds a total of 380 square kilometres in the area
- Namibia shares a border with South Africa and is located in the south-west of the continent
- The company reported its newly acquired acreage is known to contain lithium, tantalum, and the critical mineral rubidium
- Shares in AS2 last traded at 31 cents
Askari Metals (AS2) has agreed to acquire exploration permit EPL 7626, bolstering the strategic footprint at its flagship Uis Lithium project in Namibia.
It brings the company’s total footprint to 380 square kilometres in the area.
Called the Uis project, the acreage underpinning the project is believed to contain a mostly untapped lithium pegmatite belt; a type of geological formation associated with lithium mineralisation.
The company reported its new holding comprises 68.2 square kilometres, containing known occurrences of high-grade lithium, tantalum, tin, and the critical mineral rubidium.
Tantalum and lithium often coincide together in geological contexts while rubidium is dubbed a critical mineral by the International Energy Agency, but has few uses outside of scientific applications.
The company also announced it’s continuing to explore opportunities in Namibia to grow its lithium exploration strategies.
Namibia shares a border with South Africa and sits in the southwestern quadrant of the continent.
Shares in AS2 last traded at 31 cents.
