https://www.engineeringnews.co.za

Horomela expedites exploration programme, expects resource estimate

6th April 2018

By: Nadine James

Features Deputy Editor

     

Font size: - +

Base metals explorer and aspiring mining junior Horomela Mining Investment & Resources has started exploration on several licence areas, including the Steinkopf 22, Naroep and Aggeneys zinc licence areas, all in the Northern Cape.

The company expects to produce an exploration results report for Steinkopf 22 – compliant with the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves – by mid-May, says Horomela cofounder and CEO Abongile Mdingi.

He explains that the initial exploration work (drone surveys, magnetic mapping and scoping studies) for the 400 ha Steinkopf 22 licence has been concluded, and that an “extensive” drilling programme is expected to be undertaken by the in-house exploration team next month.

“Initial exploration started in December . . . We will start the actual drilling after the Easter break. There are some good indications for lithium, tantalite and tungsten.” Further, there is a significant feldspar resource, as well as “strong” copper mineralisation. The feldspar resource is of particular interest, as it is one of the “purest and best-quality” resources in the world, notes Mdingi. Horomela is hoping to expedite the compilation of the mineral resource report and is in talks with potential offtakers who have indicated they will sign offtake agreements once the drilling results and the resource report are available.

“This has significant potential for the company, as the feldspar market is almost nonexistent in South Africa. From what we have seen so far, it could have a potential mine life of 25 years.”

Moreover, the lithium, tungsten and tantalite pegmatites have significant offtake and beneficiation potential. Mdingi notes that Horomela intends to mine these shallow multipegmatite deposits first to generate relatively quick cash flow before exploring the copper mineralisation, which has a comparatively cost-intensive exploration programme.

He comments that the 2018 exploration programme is being funded through shareholder loans.

Mdingi notes that the ultimate aim is to beneficiate the Steinkopf 22 resources locally in partnership with South African or, potentially, Northern Cape-based companies to “create jobs, create value and reduce transport costs”. He expects that contract miners will initially be used and beneficiation will be postponed until such an undertaking is economically viable.

He is optimistic, however, that the resource report, once compiled, will attract many potential partners and investors, particularly because of the positive economic realities surrounding the lithium and feldspar markets.

With regard to the Naroep licence, Mdingi notes that the initial drone work is ongoing, having started in January. He adds that more exploration, sampling and scoping work will have to be done before drilling starts. Exploration was delayed “purely because of the exciting developments at Steinkopf 22” and will likely be completed towards the end of July, at which point Horomela would likely have acquired the mining permit.

Naroep also has good indications for multipegmatite discoveries. It is expected that these deposits will be used to support the resources potential for Steinkopf 22. Naroep also includes some rare-earth metals and heavy minerals such as silicon.

Additionally, exploration work on the Aggeneys zinc licences is under way and Horomela has been on site for about a month. The drilling programme is expected to take place in the first week of June.

The company recently lodged further prospecting rights applications at the Springbok Department of Mineral Resources for an additional 35 properties in the Kenhardt/ Kakamas area.

“The properties have good pegmatite occurrence potential. The focus will be mainly on lithium, tantalite and tungsten; however, there are many other pegmatites that may be discovered and become economically viable.” Mdingi notes that the applications are still at an early stage, but he is hopeful that a prospecting licence will be granted by the third quarter.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.219 0.273s - 156pq - 2rq
Subscribe Now