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Kazera Global said its maiden mineral resources estimate at its White City mine had met pre-exploration programme expectations.
The maiden inferred tantalite resource at White City deposit of 297,600 tonnes was in line with the company's pre-exploration programme expectations. Across the deposit, 'strong' grades were shown, with an average grade of 105 parts per million Tantalum pentoxide (Ta2O5), the company said.
A lithium mineral resource estimate, however, was not completed as part of the mineral resource estimate due to 'the sparse number of lithium assays (lithium assays were only performed on the recent core samples) and their high variability,' the company added.
Kazera said it would look to close out the remainder of its phase 1 exploration drilling programme before the end of the year.
Work on its new trading arm, Kazera Trading, had also commenced. The trading arm was set up to use the company's global connections, connecting buyers and sellers of heavy metal and rare earth element ores.
At 9:52am: (LON:KZG) Kazera Global Plc Ord 1p share price was +0.05p at 0.53p