Askari wraps up Phase I drilling at Uis lithium project in Namibia; drills kick up again in January

Thu 15 Dec 22, 10:39am (AEST)
An African elephant bathing in water curiously peers at the photographer
Source: Unsplash

Key Points

  • Assay results for the maiden drill run targeting spodumene pegmatites at the Uis project are due back to Askari in coming weeks and months
  • Askari fieldworkers fond high-grade lithium rock chip samples on-site back in September
  • The Uis project now comprises two different tenements with a 308km2 footprint overall

In February, Askari Metals (ASX:AS2) will continue the second leg of its 10,000m RC drill run on-site the recently picked up Uis lithium project in Namibia, Africa; with the first phase of drilling wrapped up as of Thursday. 

The company hit surface rock chip samples containing lithium just over 3% in fieldwork conducted between September and October; the company now awaits assays on the first 3,000m comprising 59 different drillholes. 

The Uis project boasts a healthy array of pegmatite targets already mapped in fieldwork exercises and historical mining operations give the company an idea of where and where not to start looking. 

Spodumene is common on-site, the same kind of lithium-hosting mineral that has brought great fortune to Pilbara Minerals (ASX:PLS) this year. 

Newsflow inbound 

“The pegmatites at Uis had never been drill tested historically so this is an exciting time for Askari, where we eagerly await assay results from the spodumene targets,” Askari exploration chief Johan Lambrechts said. 

“The completion of Phase I drilling at Uis underpins the company’s goal to aggressively explore [for battery metals.]” 

Uis growing 

Earlier this month, Askari snagged a second tenement right nearby Uis as the company firms its intentions to establish itself as an African lithium explorer. 

That tenement brings the Uis project overall to a 308km2 footprint. The second tenement, which is held under licence EPL 8535, will be subject to RC drilling in January next year.

That drill run, also an RC rig, will be separate to the Phase II drilling hunting for lithium at the original Uis tenement (EPL 7345) kicking off in February. 

Askari also wants to sniff out tin, tantalum and rubidium; all three elements are commonly associated with lithium. Rubidium, on its own, is also a high-value metal. 

Why is Askari moving into Namibia? 

Askari sees its new international footprint as transformational; China’s Zheijang Kanglongda are supportive of the company’s African exploration—Askari and Zheijang teamed up back in October. 

Askari will continue to develop its assets across Africa and Australia, which it notes will see tandem exploration campaigns.

A glance at Askari's three month charts
A glance at Askari's three month charts
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.


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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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