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Osino Resources adds lithium to its gold basket

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Exploration drilling results in the area around the town of Karibib in Namibia continues to deliver spectacular results. The Omaruru lithium project is the latest in a list of sites showing great potential. Image credit: Leon Louw for WhyAfrica

Osino Resources adds lithium to its gold basket

Early drilling results at Osino Resources’ and Prospect Resources’ Omaruru Lithium Project close to Karibib in Namibia, indicates that Osino could be developing a second mine on the Damara Belt in the not-too-distant future.

TSX listed Osino is developing the Twin Hills mine which is expected to deliver first gold within the next few years.

The company is also the majority shareholder in the Omaruru Lithium Project after entering into an Earn-In and shareholders agreement with Prospect Resources in 2022 whereby Prospect can earn up to 51% and potentially up to 85% interest in the project.

Omaruru is located 20km southeast of Twin Hills.

Located east of Karibib and spanning 175km2, Omaruru is situated near several historical and current lithium mining operations, including Lepidico’s Karibib Lithium Project, which is located about 10km to the southwest.

Omaruru is accessible by road from the sealed B2 National Highway which links the capital Windhoek, 130km the southeast, to the port at Walvis Bay, about 240km further southwest.

Upside of the Karibib Pegmatite Belt (Osino Resources adds lithium to its gold basket)

According to Heye Daun, Osino’s President and CEO, Omaruru contains more than 65 known and mostly zoned pegmatites which belong to the Lithium-Caesium-Tantalum (LCT) family of rare-element pegmatites.

“These pegmatites occur within an area known as the Karibib Pegmatite Belt, one of five major pegmatite districts in the Damara Belt”.

“A number of pegmatites within the Karibib Pegmatite Belt have produced lithium in the past, including Lepidico’s Karibib Lithium Project which is focused on the Rubicon and Helikon pegmatites,” says Daun.

Historically, small-scale production from the Karlsbrunn and Brockmans pegmatites located on the project produced lithium minerals (mainly lepidolite, petalite, amblygonite and spodumene), as well as beryl.

Exploration in the vicinity of the Omaruru project has generally been for gold, and companies such as Anglo American and Helio Resources Corp. explored the area intermittently prior to 2015.

Osino undertook an initial evaluation of the lithium potential of the Omaruru project from 2019-2021. This work included mapping, rock grab sampling and a 16-hole (1,942m) RC drill program in 2020.

Exposure to a growing scope (Osino Resources adds lithium to its gold basket)
The drilling highlighted remaining potential at the Karlsbrunn pegmatite in particular, with a number of intersections of 5m or more at grades in the range of 1-1.2% of Li2O. Other drilling and surface sampling indicated lithium mineralisation associated with most of the other pegmatites on the project.

“The Phase 1 drilling results confirm and expand the success of the early exploration and drilling programs completed by Osino between 2019-2021 and set the stage for a significant, maiden JORC-compliant resource to be delineated at Omaruru later this year.

“Prospect is a world-class group with a track record for exploring and developing African lithium projects, evidenced by the team’s previous success selling the Arcadia lithium project in Zimbabwe for approximately USD378-million cash in 2022.

“Our Earn-In agreement provides Osino shareholders with continued exposure to the growing scope and excellent upside potential of the Omaruru Lithium Project,” says Daun.

Osino Resources adds lithium to its gold basket 

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Osino Resources adds lithium to its gold basket

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