The Bitterwasser Lithium Prospect, Namibia

The Bitterwasser Lithium Prospect, Namibia

The project comprises three granted Exclusive Prospecting Licences (EPLs)
covering a chain of salt pans prospective for lithium and potassium (potash).
The main pan has an area of approximately 14km2 which is 24% of the total
area of the five salt pans combined.

Superficial prospecting with a percussion drill gave the following results:

Lithium (ppm)

	0m to 3m	3m to 6m	6m to 9m	9m to 12m	12m to 15m
Borehole 1	590	542	587	324	428
Borehole 2	497	398	250	204	Not analysed
Borehole 3	580	724	857	941	495
Borehole 4	589	788	676	358	Not analysed

Potassium (ppm)

	0m to 3m	3m to 6m	6m to 9m	9m to 12m	12m to 15m
Borehole 1	7827	7898	7968	8789	13116
Borehole 2	5845	6569	5375	6932	Not analysed
Borehole 3	8698	9307	9663	16319	15931
Borehole 4	11423	14249	13218	12859	Not analysed

Boron (ppm)

	0m to 3m	3m to 6m	6m to 9m	9m to 12m	12m to 15m
Borehole 1	662	663	334	149	128
Borehole 2	504	206	131	51	Not analysed
Borehole 3	496	601	556	431	189
Borehole 4	487	462	163	162	Not analysed

Summary and notes

• Pitting and percusion drilling obtained high lithium values from surface down to 12 meters in a chain of pans (salt lakes) stretching over a distance of 60 kilometers.

• The clays in the main pan of Bitterwasser contain an average of 558 ppm lithium, 462 ppm boron and 7 683 a ppm potassium .

• The estimated lithium-bearing clay tonnage of the main pan is 400 million tonnes. It comprises 24% of the total area covered by the pans.

• The contained lithium carbonate equivalent of the main pan is 1 188 094 tonnes or $11.8 billion at a price of $10 000 per tonne lithium carbonate.

• The clays are underlain by sediments of the Upper Cretaceous Kalahari Group and the water intersected from 17 (water borehole on southernmost pan) to 26 meters could be the upper portion of a stratified lithium brine aquifer as the water table in the area is generally at 60 meters below surface.

• The pans were formed in closed basins caused by deep-seated structures as evidenced by two hot water boreholes on the eastern edge of the main pan.

• The post-Cretaceous Brukkaros crater to the south of Bitterwasser is the result of explosive activity caused by superheated steam coming off magma reacting at the level of the near surface groundwater table and the likely mechanism by which lithium was leached and deposited. It has an extensive volcanic field with radial fissuring of the overlying Upper Cretaceous Kalahari sediments (66 – 72 million years) and more than 100 carbonatite dykes and 74 carbonatite diatremes.

For further information, contact Carel van der Merwe at crlvandermerwe@gmail.com
or +27 62 538 7750.