Javelin Minerals: Could this unlikely jurisdiction be the next big thing in lithium?
Javelin Minerals Executive Director Matthew Blake on 3AW, 2GB, 4BC & 6PR Bulls N Bears Report
Listen to ASX-listed Javelin Minerals Executive Director Matthew Blake talk to Matt Birney on the Bulls N’ Bears Report about Javelin’s two new projects and some off-the-scale lithium results from waste samples at nearby tantalite mines – in a very curious country.
TO LISTEN TO THE JAVELIN MINERALS AUDIO INTERVIEW - CLICK BELOW
Javelin Minerals is an exploration company with several projects throughout Australia, however, the company recently struck a deal to take over a private company that has its foot on 60 per cent of two projects in Uganda that look to be prospective for lithium. Whilst Uganda has a solid history with tin and tantalum, lithium, that is often found in the same geological setting as tin and tantalum is only just starting to hit the exploration radar in Uganda now.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by mineral explorer Javelin Minerals
Matt Birney - ASX code: JAV
Matt Birney - I'm Matt Birney and I'm joined now by the Executive Director of Javelin Minerals, Matthew Blake
Matt Birney - Hi Matt
Matthew Blake - Hi Matt
Matt Birney - Okay so Javelin Minerals is an exploration company with several projects throughout Australia, however, the company recently struck a deal to buy a private player that has its foot on 60 per cent of two projects in Uganda, that look to be prospective for lithium.
Matt Birney - Whilst Uganda has a solid history with tin and tantalum mining, lithium, that is often found in the same geological setting, is only just starting to hit its straps in the exploration space in Uganda now.
Matt Birney - Okay Matt you're in the process of picking up two projects in Uganda: the Ntungamo project and the Mityana project. Let's start with Ntungamo, where is it and why do you think there might be lithium there?
Matthew Blake - 300 kilometers south west of the capital Kampala and 20 kilometers out from the town of Ntungamo. We have the Jackson mine which is excised from our project, sort of postage stamp on the map, tailings taken from that project on our project come in at 0.16 to 7.68 per cent lithium oxide. That lithium has been interpreted, or the pegmatites have been interpreted, with trends across our ground.
Matt Birney - Okay and what about the Mityana project? Where is that one and what's to like about it from a lithium perspective?
Matthew Blake - Mityana is about 1.5 half hour drive west from the main capital Kampala.
Matthew Blake - It also has an excised mine which is sampled 8.13 per cent lithium oxide which again is interpreted these pegmatites going into our ground.
Matt Birney - And are those samples on your ground or they came from the old mine tailings, do they?
Matthew Blake - They came from the old mine tailings.
Matt Birney - Okay I guess they give you an idea of what might be sub ground up that way right?
Matthew Blake - That's what the plan is yes
Matt Birney - Okay now I understand mining entrepreneur Klaus Eckhof is one of the vendors and he will remain as the Chairman of your technical committee, what are some of his past successes? I think he's pretty good in Africa right?
Matthew Blake - Klaus had great success in Africa. He is Chairman of AVZ, which is generally considered to have the largest hard rock lithium deposit in the world.
Matthew Blake - That's in the Democratic Republic of Congo which is next door to Uganda, also next door in the DRC, Moto Goldmines' 20 million ounce gold discovery taken over by Randgold.
Matthew Blake - And he's currently the Chairman of Alphamin Resources which has the highest grade tin mine in the world at four and a half per cent and that's also next door in the Democratic Republic of Congo.
Matt Birney - How will you fund exploration?
Matthew Blake - We've just done a placement, firm commitments for $2 million.
Matt Birney - Okay now Uganda, tell me what's the general view of Uganda like as a place to do business these days?
Matthew Blake - Very good. English speaking. Commonwealth country. I went there Matt and you know it felt a bit like being here. There was no problems at all.
Matt Birney - Matthew Blake from Javelin Minerals
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears
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