Auroch to acquire 90% of Karibib lithium project located in Namibia
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Finfeed presents this information for the use of readers in their decision to engage with this product. Please be aware that this is a very high risk product. We stress that this article should only be used as one part of this decision making process. You need to fully inform yourself of all factors and information relating to this product before engaging with it.
Auroch Minerals (ASX:AOU) has exercised an option to acquire 90% of EPL 5751, part of the Karibib lithium project located in Namibia.
Management’s confidence in the prospectivity of the asset has been boosted by assay results which returned up to 2.73% lithium dioxide during first-pass reconnaissance fieldwork.
AOU’s joint venture partner is Namibian entity, Dynamic Geo-Consulting Services (DGS). The option and joint-venture is for the exploration of base and rare metals, industrial metals (including lithium) and precious metals with a view to developing a mining operation should results indicate a commercially viable project can be established.
Importantly, AOU is in a strong financial position with $8.3 million as at March 2, providing it with the funds required to fulfil its side of the joint venture agreement by financing an exploration program.
It should be noted here that this is an early stage play, so investors should take a cautious approach to their investment decision and take all publicly available information into account.
From a broader perspective, AOU CEO, Doctor Andrew Tunks said, “The new joint venture is an important step in the growth of the Karibib lithium project as we continue to grow the company’s Namibian portfolio.”
While acknowledging that exploration is at an early stage, Tunks said that the identification of substantial lithium mineralised pegmatites across the licence has provided the scope for a focused exploration program.
Historical pegmatite occurrences at EPL 5751
Previous exploration has identified four pegmatite occurrences, referred to as Tsaobis, Nordenburg, Dorstriver and Villa Rosa. In the course of undertaking field visits AOU geologists have revealed lithium mineralisation at Tsabosis.
The company noted that at this stage mineralisation is confined to sporadic occurrences of Lithiophilite, and iron-manganese-lithium phosphate mineral, confirming that the pegmatite is an LCT pegmatite which is important from a broader perspective as it increases the potential to find lithium enriched mineralisation on the licence.
Management noted that airborne radiometric data showed there is potential for a continuation of the Tsaobis pegmatite, and within EPL 5751 there are mapped pegmatite occurrences not yet visited.
On this basis, management is of the view that there is a high potential to discover LCT pegmatites that contain the economically important lithium minerals, spodumene, petalite or the lithium micas.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.