Africa-focused explorer Montero Mining & Exploration Ltd (CVE:MON) hailed the findings of its historical chip assaying, which found positive lithium values at the Soris lithium project in Namibia.
In 2015 a total of 31 RC (reverse circulation) drill holes were completed to test for tantalum and tin in the Main and Southern pegmatite occurrences at the property.
The previous operator at the project did not assay for lithium, the firm noted.
"The results have been assessed and positive lithium values from inclined and vertical drill holes have been returned from the spodumene pegmatite intercepts."
"Montero has completed its preliminary assay program and established significant concentrations of lithium mineralization within the spodumene pegmatites at surface and at depth on the Soris Lithium Project," said Dr Tony Harwood, the president and chief executive of Montero.
Re-assaying of the drill chips for lithium returned very encouraging lithium values in the Main Workings, said Montero.
This is substantiated by surface channel sampling which returned 14 metres of 1.93% Li2O (lithium oxide).
"The drill widths reported are not regarded as true widths and additional drilling will be required to test both the historical intercepts and reported widths of mineralization.
"The Northern and Central Workings have yet to be drill tested where surface channel sampling in the Northern Workings returned 16 metres of 0.68% Li2O," the group added.
The Soris project is in central Namibia, near the town of Uis which is 220km north of Walvis Bay - Namibia’s largest commercial deep-water port.
The project is in the Erongo region and is connected by dirt and asphalt road to the port of Walvis Bay.
The zoned pegmatites at the Soris lithium project belong to a group of highly fractionated, tantalite-cassiterite, lithium-rich rare metal pegmatites known as LithiumCesium-Tantalum (LCT) pegmatites.
The Soris pegmatites were previously mined on a small scale for tin and tantalum (Diehl, 1992). The pegmatite has not previously been mined or systematically sampled or assayed for lithium.
Montero has an option to acquire an 80% interest in the Soris lithium project by spending C$1 million and completing a feasibility study within three years of the transfer of the mining rights.