Osino confirms maiden resource on Namibian project will be published later this year
TSX-V-listed Osino Resources Corporation says a Phase 1 reverse circulation drilling campaign undertaken by partner company ASX-listed Prospect Resources on the Omaruru lithium project, in Namibia, has set the stage for a maiden resource to be delineated later this year.
Particularly, assay results from the drill programme have outlined a new, near-surface shallow dipping discovery of lithium mineralisation in the Southern Brockmans zone and confirmed historical results at the Karlsbrunn deposit.
Highlights from the Phase 1 drilling include 6 m grading 1.3% lithium oxide from 13 m and 8 m grading 0.99% lithium oxide from 6 m.
Osino says drilling at the Brockmans zone indicates significant scope for larger tonnages of higher-grade lithium mineralisation.
Prospect can earn up to a 51% and potentially up to an 85% interest in the project.
Prospect plans to spend $1-million on exploration over 12 months to reach a 40% project interest, while Osino has the option to retain a 49% interest in the project through pro-rata equity contributions and regardless will be carried as a 15% holder in the event of non-funding, until a definitive feasibility study is published.
Omaruru is situated near several historical and current lithium mining operations, including Lepidico's Karibib lithium project located about 10 km to the southwest.
Osino is currently focused on developing the Twin Hills gold project in central Namibia.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
