Askari confirms lithium spodumene at its new project in Namibia; drilling starts this weekend

Wed 16 Nov 22, 11:15am (AEST)
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Key Points

  • Ahead of drilling this weekend, Askari confirms the presence of lithium-hosting spodumene pegmatites at its Uis Lithium Project
  • Rock chip samples have returned lithium concentrations up to 3% Li20, firmly landing in high-grade territory
  • Drill targets are ready to go with multiple outcrops already mapped

Askari Metals’ (ASX:AS2) has confirmed the presence of highly sought after spodumene mineralisation at its new battery metals play in Namibia, Africa. 

Field mapping at the project, called the Uis Lithium Project, has revealed multiple pegmatite outcrops at surface containing lithium with spodumene mineralisation the dominant form of pegmatite encountered. 

Surface samples collected by the company in September and October have been assayed with high-grade mineralisation logged. 

Looking at samples 

Typically, for hard-rock lithium projects, anything over 1% lithium concentration is considered mid-to-high grade, with concentrations of 3% and over often attracting palpable interest. 

Askari today reports two samples; one at 2.1% lithium oxide (Li20), and another at 1.1% Li20 respectively.

Both samples from the September-October run also turned over trace amounts of tantalum, tin, and rubidium; all coincident with lithium mineralisation in its natural setting.

Assay results on rock chips samples collected back in July, meanwhile, showed one hit of up to 3.1% Li20 from surface.

Those leads will be further chased up this weekend when drilling officially kicks-off on-site. 

Old mining works left full of goods

“Our first phase of drilling at the Uis Project is imminent and we are excited to get on ground and aggressively drill. We have signed a 10,000m drilling contract with the initial phase of 3,000m set to get underway shortly,” Askari exploration chief Johan Lambrechts said. 

“We have encountered numerous historical mine workings with an abundance of altered / weathered spodumene and lepidolite mineralisation at surface. The grades are high and the workings in many cases are extensive offering immediate drilling targets.”

“The strategic location of the Uis Project within 2.5km of an operating battery metals mine [owned by AfriTin mining] demonstrates the potential of the Uis Project. We have now proven it hosts strike mineralisation of the same lithologies as the mine next door, offering Askari Metals exposure to the battery metals sector.” 

Quick recap on spodumene 

54% of nearly 200 samples collected provided early-stage evidence of potentially commercial-scale lithium mineralisation further underground. 

Spodumene is a type of pegmatite typically hosting in-situ hard rock lithium mineralisation and poses easier downstream implications for refining than other pegmatites such as lepidolite. 

Worth noting is that multiple outcrops of lepidolite have also been uncovered at Uis. 

Pilbara Minerals (ASX:PLS) regularly auctions spodumene samples and has broken price records multiple times this year as lithium demand continues to outpace supply, and as the commodity remains at the forefront of radars everywhere. 

Askari's three month charts; the price is up 10% today
Askari's three-month charts; the price was up 10% in early morning trading
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Askari was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.


Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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