JOHANNESBURG (miningweekly.com) – Australia-listed lithium company Prospect Resources has added to its lithium resource base in Zimbabwe by exercising an option to acquire the Good Days project, near Mutoka, north-eastern Zimbabwe.
The 8 km2 project contains numerous mineralised pegmatites, including historical workings for spodumene and tantalite.
Prospect had until April 2018 to decide on whether it will acquire a 70% interest in the project from Zimbabwean company Barrington Resources. The company said on Wednesday that it had exercised its option early, following “positive changes under the new Zimbabwe government”.
Since the option was entered into in June last year, Prospect has drilled the known mineralised pegmatite zone to verify the historic geological model and has undertaken two phases of soil sampling to identify other areas which may host economic lithium pegmatites. A total of 2 556 soil samples were collected from 51 km of surveyed lines on the western extension to the previously identified Ford-Ntabeni lithium pegmatites swarm.
A total of 195 samples returned anomalous values greater than the statistically determined threshold of 66 ppm, of which 33 samples were greater than 100 ppm. A peak value of 8 531 ppm was achieved.
The Good Day deposit would be a “significant addition” to the Arcadia project, on the outskirts of Harare, Prospect reported.