Walkabout Resources, through its wholly owned Namibian entity Aardvark Minerals (Proprietary) Limited (ARV), has executed a binding Memorandum of Understanding (MOU) with a local Namibian company for a staged earn-in to an Exclusive Prospecting Licence (EPL5691) in the Warmbad area of southern Namibia. The license is adjacent to, and directly to the south of the 100% owned Walkabout licence EPL6308 and will form part of the highly prospective Eureka Lithium Project.
The addition of the license to the project area further expands ARV’s commanding footprint in the highly prospective Orange River Pegmatite Belt (ORPB) in the Karasregion of southern Namibia with the addition of a further 120 previously unmapped and un-sampled pegmatites on EPL5691.
Exploration footprint expanded to more than 2,000km2 in the highly prospective and under-explored Orange River Pegmatite Belt of Namibia.
Additional 120 pegmatite swarms with a strike length in excess of 65 line kilometres delineated on EPL5691 with known historical lithium occurrences documented. Known historic lithium occurrences on EPL5691.
Walkabout now controls 90km of pegmatite strike length targeted for immediate initial exploration within the Eureka Project.
MOU exposes Walkabout to third parallel shear zone in region, extensively increasing exploration scope and opportunity.
MOU Terms allow for earn-in to 75% for establishment of maiden JORC Resource. Executive Chairman of Walkabout Resources, Trevor Benson commented; “The inclusion of EPL5691 into the Eureka Lithium Project and more importantly the addition of vast amounts of previously unmapped and un-sampled pegmatites strengthens the company’s position and our intention is to assemble a dominant holding for lithium prospectivity within Namibia.”