Kazera Global PLC Update on Drilling Campaign (1566T)
19 March 2019 - 6:00PM
UK Regulatory
TIDMKZG
RNS Number : 1566T
Kazera Global PLC
19 March 2019
19 March 2019
Kazera Global plc
Update on Drilling Campaign
Kazera Receives Strategic Partner Interest
Kazera Global plc ("Kazera Global", "Kazera" or "the Company"),
the AIM quoted investment company who, through its stake in African
Tantalum (Pty) Limited ("Aftan"), has an interest in the Namibia
Tantalite Investment Mine ("NTI" or the "Mine") in Namibia, is
pleased to announce that the borehole drilling campaign at both the
Homestead and Purple Haze deposits has been completed. In addition
to this, the Company is pleased to announce that it has been
approached by two parties interested in becoming the strategic
funding partner for the Orange River Project and for further
development of the Mine.
Having drilled 34 boreholes, assayed 551 core samples and
recovered 20 channel samples, NTI, under the guidance of the MSA
Group, has now completed the planned borehole drilling campaign
over the Homestead and Purple Haze deposits. Management regards
these initials results as encouraging and comparable with the
historical results upon which the 2015 Venmyn Report was based, and
which was not compiled in accordance with JORC guidelines. The
drilling campaign is continuing at Signaalberg and the previously
mined White City pegmatites with the aim of identifying additional
mineralisation. Management anticipates that further mineralisation
potential will be identified.
To validate and confirm the original assay results and, as
required for JORC verification, the samples are now being analyzed
by a second, specialist laboratory, as required by the Competent
Person. The Company now expects that the a JORC compliant resource
on Homestead and Purple Haze at the NTI Mine will be completed by
Q2 2019 to be followed by initial laboratory results from the
Signaalberg and White City borehole drilling campaign.
In addition to the ongoing drilling campaign and, following
receipt of a clearance certificate for water abstraction from the
Orange River to the Mine from the Namibian government in March
2018, the Company has completed the tender process for construction
of the pipeline and has received satisfactory proposals from
experienced contractors. The Company is also in detailed
negotiations with two international groups who have approached the
Company with indicative offers for the funding of construction of
the Orange River Pipeline to the Mine as well as offtake proposals.
There can be no certainty that any deal will be made however the
Company is looking into these opportunities as a matter of due
process. The two groups are fully aware of the borehole drilling
campaign.
Larry Johnson, CEO of Kazera, said:
"As we await the imminent results from the second laboratory's
tests to achieve a JORC compliant resource at Homestead and Purple
Haze, we are highly encouraged by the initial results of the
drilling campaign which suggests strong Tantalum potential in the
Homestead and Purple Haze deposits. With further drilling ongoing
at Signaalberg and White City deposits we are excited by what the
next phase will deliver.
"I am also extremely encouraged by the discussions we are
holding regarding funding of the Company's operations by two
international groups. Their interest in the Mine speaks to the
value we are realizing, and we look forward to updating
shareholders as further results are achieved."
**ENDS**
Kazera Global plc (c/o Camarco) Tel: +44 (0)203 757
4980
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint Tel: +44 (0)207 220
broker) 0500
Scott Mathieson / Anthony Adams (corporate
finance)
Shore Capital (Joint broker) Tel: +44 (0)207 408
Jerry Keen (corporate broking) 4090
Camarco (PR) Tel: +44 (0)203 781
Gordon Poole / James Crothers / Monique 8331
Perks
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Competent Person's Statement
In accordance with the AIM Note for Mining and Oil and Gas
Companies, Kazera Global discloses that Michael Cronwright of The
MSA Group (Pty) Ltd, is the Competent Person that has reviewed the
technical information relating to the geology contained in this
document. Michael Cronwright has a Pr.Sci.Nat with the South
African Council for Natural Scientific Professions ("SACNASP") and
is a member in good standing with SACNASP. Mr Cronwright has the
appropriate relevant qualifications, experience, competence and
independence to act as a Competent Person as defined in the 2012
Edition of the "Australian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves". Michael Cronwright
consents to the inclusion of the information in this announcement
in the form and context in which it appears.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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