Lepidico exploration activities blocked
Access road inaccessible
The prospective lithium producer has approached the High Court to solve the impasse.
Prospective lithium producer Lepidico Chemicals Namibia is currently locked in litigation due to a blocked access road which leads to a drilling prospect. The company made the announcement in an update to investors. “Exploration activities during the quarter were largely limited to regional and reconnaissance work within mining licence 204 and exclusive prospecting licence 5349, due to road access being blocked to a priority drill target,” it said in its update to the market.
To resolve the impasse, the company approached the Windhoek High Court in hopes of finding a workable solution.
“During the quarter, Lepidico filed a motion with the High Court in Namibia against a local property owner for a locked gate that denies access to a public road. It is expected that the situation will be resolved in the June quarter, which should allow ground access to this lithium-cesium-tantalum (LCT) pegmatites target with visible lepidolite in outcrop,” it said.
The company is also finalising work on a scoping study to evaluate the characteristics of its planned mining project.
The near-term objectives of this work are to extend the operating life of the Phase 1 project to over 20 years, expand the resource base to support the Phase 2 scoping study and evaluate its Karibib licences for their gold potential, Lepidico noted.