Overview

Kaoko Lithium project is in northern Namibia, approximately 800km by road from the capital of Windhoek and approximately 750km from port of Walvis Bay.

The Project comprises exploration licence EPL6667, which was initially granted in February 2018, and subsequently renewed until June 2025.

The total project area is very large, being ~120km long and covering an area of approximately 1,410 square kilometres and abuts Celsius Resources Limited’s (Celsius) (ASX: CLA) Opuwo cobalt project where significant cobalt-copper mineralisation has been discovered in what is called Dolomite Ore Formation (DOF). Celsius announced a maiden resource for the project of 112Mt @ 0.11% Co & 0.41% Cu (ASX: CLA release 16 April, 2018).

Lithium anomaly

Cazaly identified a large lithium in soil anomaly at the Ohevanga Prospect measuring 12km x 10km.  The anomaly was identified upon re-evaluation of the entire project area. A large lithium target was defined with broad surface samples collected across a 1km grid. The veracity of this anomaly was tested in 2022 with infill surface sampling on a tightly spaced grid 200m x 50m positioned between the original 1km sample points.

Results from this work confirmed previous findings and show that elevated lithium values are contiguous between the initial 1km spaced lines.

At this early stage, the most anomalous lithium assays, >110ppm Li, show that the distribution of mineralisation is aligned with specific geological sedimentary units and is therefore interpreted to be stratigraphically controlled.

Geochemical anomalies were assessed and indicated that lithium is most elevated within a package of cherty sediments and fine grained dolostones with minor black shales.

The continuity of lithium anomalism between the original 1km surface samples is a strong indication that elevated lithium will be contiguous across the entire 12km strike length of the anomaly.

During the September quarter 2024, reverse circulation (RC) drilling commenced to test the large lithium anomaly. A total of 28 RC holes were completed for 1,318 metres.

The drilling intercepted intercalated dolomite, dolostone, chert and minor chloritic sandstone. A number of quartz veins and faults were logged over all three drill traverses. The presence of faults, veining and chlorite/pyrite altered sediments may indicate the presence of fluid pathways and potential mineralisation of the lithium anomaly and give an indication of the source and strength of mineralisation. (see ASX announcement dated 7 October 2024 for additional technical details)