KUALA LUMPUR, March 14 (Bernama) -- Gratomic Inc. has announced that
the Republic of Namibia has granted the company with an additional exclusive
prospecting licence, Number 6710 (EPL 6710), with an initial exclusivity period
of three years.
The title to EPL 6710 is registered to Luxury Investments Two Hundred and Sixty Four (PTY) Ltd, a Namibian company, of which the company holds 91 per cent.
The remaining of nine per cent is held by a local Namibian pursuant to the Republic of Namibia´s New Equitable Economic Empowerment Framework.
EPL 6710 is located immediately east and north of, and contiguous with EPL 3895 that covers the Aukam graphite deposit and the Snyman graphite occurrence.
The application for the licence was submitted in order to cover the potential strike extension of the Snyman graphite occurrence to the east.
In addition, EPL 6710 covers additional area prospective for graphite within the 'Aukam window', where the rocks hosting the Aukam and Snyman graphite are exposed beneath the regional unconformity at the base of the Nama Group sedimentary rocks.
The addition of the new EPL increases the area of prospective geology covered to 63,072 hectares (630 square kilometres).
"We are very pleased that we have been granted EPL 6710 as not only does it cover the potential extension of graphite mineralisation seen at the Snyman occurrence, but it also covers most of the window below the unconformity that is also prospective for graphite, " said Gratomic´s co-chief executive officer, Arno Brand.
-- BERNAMA
The title to EPL 6710 is registered to Luxury Investments Two Hundred and Sixty Four (PTY) Ltd, a Namibian company, of which the company holds 91 per cent.
The remaining of nine per cent is held by a local Namibian pursuant to the Republic of Namibia´s New Equitable Economic Empowerment Framework.
EPL 6710 is located immediately east and north of, and contiguous with EPL 3895 that covers the Aukam graphite deposit and the Snyman graphite occurrence.
The application for the licence was submitted in order to cover the potential strike extension of the Snyman graphite occurrence to the east.
In addition, EPL 6710 covers additional area prospective for graphite within the 'Aukam window', where the rocks hosting the Aukam and Snyman graphite are exposed beneath the regional unconformity at the base of the Nama Group sedimentary rocks.
The addition of the new EPL increases the area of prospective geology covered to 63,072 hectares (630 square kilometres).
"We are very pleased that we have been granted EPL 6710 as not only does it cover the potential extension of graphite mineralisation seen at the Snyman occurrence, but it also covers most of the window below the unconformity that is also prospective for graphite, " said Gratomic´s co-chief executive officer, Arno Brand.
-- BERNAMA
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