Prospect explores fresh ground

HARARE - Australia-listed junior miner, Prospect Resources (Prospect) is to immediately start exploration of lithium at the Lipropeg deposit near Bindura.

The Lipropeg deposit is located approximately 16km southeast of the town of Bindura in north eastern Zimbabwe, and is one of at least three projects that the firm is pursuing.

The Lipropeg Lithium Project was acquired from a local company Pegmaton Resources.

“The discovery of further lithium mineralisation at the project would mean that the Lipropeg deposit would be a significant addition to Prospect’s strategic lithium resource base in Africa,” Prospect said in a statement.

The Lipropeg deposit contains numerous mineralised pegmatites.

Prospect says the first phase of the project will be mapping, soil and rock chip sampling and ground magnetics.

“The follow-up phase will be results driven, but likely consist of infill soil sampling followed by trenching, and then appropriate short hole RC percussion drilling,” Prospect said.

Prospect says it is using its expertise gained at Arcadia in lithium exploration and geological modelling to focus its exploration targets in Zimbabwe and elsewhere in the region.

Prospect owns Arcadia Lithium Project in Zimbabwe, which is one of the largest hard rock lithium resources in the world, with about 808 000 tonnes of the resource.

Recently, the Zimbabwe government granted Prospect a mining lease for 57 claims in the country.

The junior miner has committed millions in Zimbabwe’s lithium mining sector in the past year and is currently developing the assets

Earlier this year, the group said it will start exploration of rare earth elements (REEs) at its Chishanya carbonatite project in Dorowa, in eastern Zimbabwe.

Prospect also operates Sally Gold Mine and Prestwood Gold Mine in Gwanda.

The implementation of the Arcadia lithium project would consolidate Zimbabwe’s position as the fifth largest producer of the mineral in Africa. — The Financial Gazette

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