- Askari Metals (AS2) reports high-grade sampling results from the Uis lithium project in Namibia
- The company collected 162 rock chip samples from the EPL 8535 area as part of its due diligence work to acquire 90 per cent of the Uis project
- The results from this work include grades of up to 3.3 per cent lithium oxide, 3.2 per cent tin, 4280 parts per million (ppm) tantalum and 7980 ppm rubidium
- The company says these are “extraordinary” results and it is eager to get phase one drilling started
- AS2 shares are up 4.84 per cent to trade at 65 cents at 12:48 pm AEDT
Askari Metals (AS2) has reported high-grade sampling results from within the Uis lithium project in Namibia’s Erongo region.
The company collected 162 rock chip samples from the EPL 8535 area as part of its due diligence work for an agreement late last year to acquire 90 per cent of the Uis project.
EPL 8535 is one of two EPLs that make up the Uis project, which covers 308.12 square kilometres.
Sampling was carried out over exposed pegmatites and included several old artisanal workings mined for tin or semi-precious stones.
Askari said the outcome of the due diligence sampling program was “exceptionally positive”, yielding five results with values above three per cent lithium.
Specific results include 3.3 per cent lithium oxide, 3.2 per cent tin, 4280 parts per million (ppm) tantalum and 7980 ppm rubidium.
Vice President of Geology and Exploration Johan Lambrechts said the “extraordinary” results from the sampling program were significant for the company.
“The company has been rewarded for its commitment to unlocking mineral resource potential as efficiently as possible and strategically manoeuvring to capture shareholder value through the acquisition o the Uis lithium project,” Mr Lambrechts said.
Askari Metals is about to begin phase-one drilling at EPL 8535, and exploration at EPL 7345 is progressing.
AS2 shares were up 4.84 per cent to trade at 65 cents at 12:48 pm AEDT.