Ongwe expands Namibia’s Omatjete gold project area by 42%

Core Insights - Ongwe Minerals has expanded its Omatjete project area in Namibia by 42% through the acquisition of additional licences, securing a 90% stake in the EPL7400 licence and applying for the EPL11268 licence [1][2] Group 1: Project Expansion - The acquisition includes a 90% equity interest in Fallout Investments, which holds full ownership of the EPL7400 licence covering 36,600 hectares [1] - The EPL11268 licence application spans 8,200 hectares and is pending approval from Namibia's Ministry of Industries Mines and Energy [2] - The additional licences enable Ongwe Minerals to control 50km of strike along the Okondeka Fault Zone, which includes the Kokoseb deposit and the newly identified Manga Gold Prospect [2] Group 2: Geological Insights - Recent structural analysis has revealed new geological features, including the Okakongo Fault System, which may serve as conduits for hydrothermal gold-bearing fluids [3] - The Okakongo Fault System is located within the Swakop Sedimentary Group, known for hosting Namibian gold deposits [3] - Multiple granitic intrusions within the fault system enhance its structural complexity and prospectivity, drawing parallels with significant local gold discoveries [4] Group 3: Exploration and Development - Initial surface exploration has identified the Manga Gold Prospect, characterized by a footprint of 4.5km × 1km with gold presence in soil samples [5] - Preliminary drilling has indicated the existence of gold within the bedrock, with ongoing efforts to delineate the extent of Manga's strike along the Okondeka Fault Zone [6] - In addition to Omatjete, Ongwe Minerals is developing two other main projects in Namibia, including the Khorixas Project, which encompasses 154,000 hectares and features the Belmont Prospect [6][7]