Karabib Lithium Project
Auroch Minerals Limited has secured highly prospective lithium acreage in Namibia. This acreage forms the Karabib Lithium Project.
The Karabib Lithium Project is situated in the same region as Namibia’s two historic lithium producing mines, Helikon and Rubikon.
The company has five existing Exclusive Prospecting Licenses (EPLs) in the region and recently announced an Option and JV agreement to earn up to 90% of granted EPL 5751, which lies South West of Helikon and Rubikon.
Auroch Minerals recently applied five EPLs in the Erongo region of Namibia which expands the potential for AOU to identify a commercial lithium resource.
The EPLs are distinguished by the presence of significant historic lithium production within the geological terrain and include untested pegmatites with strongly fractionated geochemistry indicative of potential lithium tantalum mineralisation.
Over 90% of Namibia’s previous lithium production has been sourced from these EPLs.
The EPLs in the Karabib area of Namibia occur in the same geological terrain that hosts the Rubikon and the Helikon mines, Namibia’s two historical lithium producing mines.
That certainly puts AOU’s current $10M market cap into perspective…
The Karibib area has seen little modern exploration and almost no drilling of the many lithium known occurrences.
AOU is therefore very much an early mover in the region, bringing significant expertise and the modern technology that can hopefully unlock a significant lithium resource.