Ongwe expands Namibia’s Omatjete gold project area by 42%

Ongwe Minerals has expanded its Omatjete task country successful Namibia by 42% with the acquisition of further licences.

The Canada-based golden exploration institution secured a 90% involvement successful the adjacent EPL7400 licence, covering 36,600 hectares (ha), and has applied for the EPL11268 licence, which spans 8,200ha.

Ongwe Minerals, done its Namibian subsidiary Belmont Mineral Exploration, has taken a 90% equity involvement successful Fallout Investments, which holds afloat ownership of EPL7400.

The exertion for EPL11268 is pending support from Namibia's Ministry of Industries Mines and Energy.

The further licences volition let Ongwe Minerals to power 50km of onslaught on the Okondeka Fault Zone, which includes the Kokoseb deposit and the recently identified Manga Gold Prospect.

Recent structural investigation of the Omatjete country has revealed caller transportation structures and a parallel responsibility portion known arsenic the Okakongo Fault System. These geological features whitethorn service arsenic conduits for hydrothermal gold-bearing fluids.

The Okakongo Fault System is located wrong the Swakop Sedimentary Group, known for hosting Namibian golden deposits.

According to Ongwe Minerals, aggregate granitic intrusions wrong the responsibility strategy adhd to its structural complexity and heighten its prospectivity. The mounting draws geological parallels with different important section golden discoveries specified arsenic the Kokoseb deposit, which contains an estimated 2.9 cardinal ounces of gold.

Ongwe Minerals CEO David Underwood said: “Since the archetypal find of the Manga Gold Prospect, we person been moving hard down the scenes to grow the licence bundle and screen the afloat grade of the highly prospective Okondeka Fault Zone.

“We are blessed to study that this has present been achieved, and we look guardant to continued exploration of this fundamental, long-lived operation further to the east.”

Initial aboveground exploration conducted by Ongwe Minerals has resulted successful recognition of the Manga Gold Prospect, characterised by a footprint measuring 4.5km × 1km with golden beingness successful ungraded samples.

Preliminary drilling has indicated the beingness of golden wrong the bedrock.

The country holds sizeable imaginable for enlargement and efforts are nether mode to further delineate the grade of Manga's onslaught on the Okondeka Fault Zone.

In summation to Omatjete, Ongwe Minerals is processing 2 different main projects successful Namibia. The institution is said to clasp a important onshore presumption successful the promising Northwest Damara Belt.

The archetypal is the Khorixas Project, encompassing 154,000ha and featuring the Belmont Prospect. Belmont is an orogenic golden strategy with a 12km × 6km aboveground country and high-grade disposable golden stone chips astatine the surface.