Cazaly Resources Limited (ASX:CAZ) has received renewal of its full licence issued by Ministry of Mines and Energy on its Kaoko lithium project in Namibia.
Following positive results of infill soil sampling at the Ohevanga lithium prospect, the company is highly encouraged by the internal continuity of the 120 sq. km lithium target. The lithium soil anomaly was originally defined with a broad 1km sample grid, a portion of this target was infilled to 200m x 50m spacing which confirmed the continuity of anomalous lithium results. The continuity of lithium anomalism between the original 1km surface samples is a strong indication that elevated lithium will be contiguous across the entire 12km strike length of the original soil anomaly.
The application for the extension of term for the exploration licence was submitted to the Ministry of Mines and Energy in February 2023, the receipt of full renewal of the exploration licence now allows the company to further advance the project, and drill test this large lithium target.
The 12km long lithium in soil anomaly will be drill tested with Reverse Circulation (RC) drilling. Approximately 3,000m of drilling will be completed following approvals of vegetation clearing and drilling permits. This initial drilling phase will test the regolith and fresh rock beneath the highest lithium in soil results on a 200m x 100m grid. The Company anticipates commencing drilling in late Q1 to early Q2 2024, following approvals and the wet seasons rains.
The company will work with their in-country team and also employ members of the local communities to assist with line clearing and ongoing program works.
Project is located in northern Namibia, approximately 800km by road from the capital of Windhoek and approximately 750km from the port of Walvis Bay. There is excellent infrastructure in the region with the Project being only ~50 km from the regional capital of Opuwo, with an airport, good bitumen roads, and access to the 320 MW Ruacana hydroelectric power station. Transmission lines run through both the western and eastern parts of the Project.
The wet season in Namibia historically persists from October to February, however in recent years the heavier rains have occurred from January to May.
We are very pleased to have received the full licence renewal from the MME, and are very excited to be getting back on the ground in Namibia to advance the project with RC drilling,” Cazaly’s Managing Director Tara French said.
“The drill programme is designed to test the lithium anomaly in fresh rock and will enable us to develop a better understanding of the distribution of lithium within the stratigraphic units at Ohevenga and the nature of this potentially unique sediment hosted lithium anomaly.”