Business
Namibia Critical Metals Provides Update on Erongo Gold Project
Erongo gold project covers 606 km 2 in the Navachab-Otjikoto gold belt in proximity to Osi...
About this update from Namibia Critical Metals Inc.
[{"type":"text","content":"Namibia Critical Metals Provides Update on Erongo Gold ProjectErongo gold project covers 606 km2 in the Navachab-Otjikoto gold belt in proximity to Osino Resources Twin Hills gold discoveryPriority target area underlain by favourable stratigraphy and structures identified at Twin HillsSoil geochemical survey has collected 2,500 samples covering 30% of priority target area, analyses pending; additional sampling plannedCompany continues to monitor and manage Namibian responses to Covid-19 and announces planned changes in senior managementHALIFAX, NS / ACCESSWIRE / March 26, 2020 / Namibia Critical Metals Inc. (\"Namibia Critical Metals\" or the \"Company\") (TSXV:NMI) today provided an update on progress of exploration on its Erongo Gold Project (EPL 6440 \"Erongo\") located near the town of Karibib in central Namibia. Erongo is one of three prospective gold projects in the company's portfolio within the emerging gold belt which hosts the Navachab and Otjikoto gold mines (Figure 1). The Company is undertaking a regional geochemical soil survey at Erongo to assess the potential for the discovery of orogenic/hydrothermal gold deposits similar to the nearby Navachab Gold Mine which is operated by QKR and the Twin Hills discovery of Osino Resources Corp. (\"Osino\").The Erongo Gold Project comprises 606 square kilometers situated 20 kilometers north of the Navachab gold mine and 10 kilometers northwest of the Twin Hills discovery (Figure 2). The project area is centered on the Erongo granitic intrusive complex which was emplaced into the older metasedimentary rocks of the Damaran orogeny which host the gold mineralization of interest at Navachab, Twin Hills and at the Otjikoto gold mine operated by B2 Gold which is located 230 kilometers to the northeast.Don Burton, President of Namibia Critical Metals stated, \"Most investor attention is understandably focused on our heavy rare earth project at Lofdal where we have recently entered into a joint venture with the Japan Oil, Gas and Metals National Corporation (\"JOGMEC\"). However, an important aspect of the Company's assets lies in the diversity of the commodities within our portfolio. Given the increasing recognition of the significance of Namibia's emerging gold belt, it is an appropriate moment to direct more attention to the gold potential in our Erongo, Otjiwarongo and Grootfonte...