Black Fire Minerals (ASX: BFE) has four active projects - the Pilot Mountain Tungsten-Copper Project in Nevada, the Kangeshi Copper-Silver Project in the DRC, the Longonjo Rare Earth Project in Angola and the Mystique Gold joint venture in Western Australia, and is actively assessing new opportunities in Australia, Asia, the Americas and Africa.
Black Fire Minerals (ASX: BFE, BFEO) has announced the successful completion of the acquisition of the Karibib Lithium Pegmatite Project from Australian private company Sunrise Minerals.
The acquisition was facilitated via Black Fire purchasing Sunrise’s private Namibian subsidiary, Starting Right Investments Ninety Four, the holder of the Karibib Project Exclusive Prospecting Licences EPL3750 & EPL3751.
The agreement was subject to certain conditions precedent, which have now been satisfied.
The company has engaged a highly experienced Namibian consultant geologist to manage the project and will immediately commence a geological mapping and rock chip geochemical sampling programme to assist with the prioritisation of drill targets.
It is currently envisaged that drilling programs will commence in February/March 2010.
The Karibib Lithium Pegmatite Project comprises two granted and adjoining Exclusive Prospecting Licences covering 765km2 and located approximately 25km east‐southeast of the town of Karibib and 120km northwest of Namibia’s capital, Windhoek.
Lithium is used to make tritium, batteries, ceramics, enamels, glass, lubricants, rubber products and dyes.
The project is located on open grazing lands and is proximal to excellent infrastructure including the town of Karibib and the major B2 sealed highway and railway that connects Windhoek to the ports of Swakopmund and Walvis Bay.
Karibib is a centre of marble and granite quarrying and also supports the nearby Anglogold Ashanti Navachab gold mine.