Ongwe Minerals has significantly expanded its Omatjete project in Namibia by acquiring a 90% stake in an additional 36,600 hectares through the EPL7400 licence and applying for another 8,200 hectares via the EPL11268 licence. This expansion enhances their control over a 50km stretch of the Okondeka Fault Zone, which includes the Kokoseb deposit and the Manga Gold Prospect.
Recent studies in the Omatjete area have uncovered new geological features, such as the Okakongo Fault System, known to host gold deposits. The complexity added by multiple granitic intrusions in this area increases its prospectivity and draws parallels to other significant local gold discoveries. CEO David Underwood noted their efforts to expand their licence package to include these promising structures, emphasizing their potential for gold exploration.
Initial exploration has identified the Manga Gold Prospect, characterized by gold presence in surface soil samples over a 4.5km by 1km footprint. Preliminary drilling suggests gold within the bedrock, indicating significant potential for future discoveries.
Beyond Omatjete, Ongwe Minerals is advancing two other projects in Namibia: the Khorixas Project, with its large-scale orogenic gold system at Belmont, and the Outjo Project, positioned along a promising geological strike akin to Osino Resources’ Eureka Discovery.