Canadian firm Montero Mining and Exploration has identified lithium resource at the Soris lithium project in central Namibia after completing an initial channel sampling programme.
Based on the programme, an average lithium grade of 0.76% Li2O was found with values up to 3.66% Li2O from all channel samples.
According to the company, the best result from channel sampling at the project returned 14m of 1.93% Li2O.
In October, the company signed an agreement to acquire an 80% interest in the property.
Under the terms of the agreement, Montero needs to spend C$1m ($0.78m) and complete a feasibility study within three years of transfer of the mining rights.
Montero Mining and Exploration president and CEO Dr Tony Harwood said: “Montero’s primary interest at Soris is to test the lithium content of the spodumene-bearing pegmatites to establish a lithium resource.
“Initial lithium assay results from prior operator RC drill holes are expected shortly, which will provide Montero an understanding of the lithium potential in a third dimension.
“These, along with mineralogical test results designed to understand metallurgy, will enable Montero to decide whether to proceed with trying to define a lithium resource.”
Lithium, tantalum and tin mineralisation were identified over a 2.4km strike length of exposed pegmatite through the company’s first channel sampling programme.
The company is currently waiting for mineralogical sample analysis and lithium assay results of RC chips from a prior drill programme to proceed with the acquisition of the 80% interest.