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Osino Partner Completes Phase 1 Earn-In at Omaruru Lithium Project, Namibia, Proceeds to Phase 2

Retrieved on: 
Friday, September 1, 2023
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VANCOUVER, British Columbia, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV:OSI) (NSX:OSN) (FSE:RSR1) (OTCQX:OSIIF) ("Osino” or “the Company”) is pleased to report the completion of the phase 1 earn-in (“Phase 1”) on its majority-owned Omaruru Lithium Project (“Omaruru” or “the Project”) in Namibia by Prospect Resources Limited (ASX:PSC) (FRA:5E8) (“Prospect”) and announces that Prospect will proceed with the phase 2 earn-in (“Phase 2”).

Key Points: 
  • Heye Daun, Osino’s President and CEO commented: “We are encouraged by the results of the Phase 1 program on our Omaruru Lithium Project.
  • The success of the Phase 1 program sets the stage for potential new discoveries during the Phase 2 drilling campaign planned for Omaruru.
  • The tenement is located near several advanced mining projects including Lepidico’s Karibib Lithium Project and Osino’s Twin Hills Gold Project.
  • Figure 1: Omaruru Lithium Project location relative to the Twin Hills Gold Project, other Osino projects and mines and deposits in the area.

Osino Partner Announces New Lithium Discovery and Phase 1 Drilling Results at Omaruru Lithium Project, Namibia

Retrieved on: 
Friday, March 31, 2023
Lithium, Agreement, Damara orogeny, Phase II, Honours degree, Resource, Hillside, Beryl, South African Council of Churches, ASX, OSI, FSE, RC, Bachelor of Science, Prospect, Gold, Soil, NI, LCT, Project, Rubicon, PSC, News, DFS, Uranium mining, Security (finance), Rare-earth element, Pharmaceutical industry, Brockman Building, Karlsbrunn, Helicon

VANCOUVER, British Columbia, March 31, 2023 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF) ("Osino” or “the Company”) is pleased to provide an update on its majority-owned Omaruru Lithium Project (“Omaruru” or “the Project”) in central Namibia following the completion of a Phase 1 Reverse Circulation (“RC”) drill program by Prospect Resources Limited (ASX:PSC) (FRA:5E8) (“Prospect”). Osino entered into an Earn-In and Shareholder Agreement (the “Agreement”) with Prospect in Q4 2022 whereby Prospect can earn up to 51% and potentially up to 85% interest in the Project (see Osino press release dated September 30, 2022).

Key Points: 
  • Highlight intersections from the Phase 1 drilling program include:
    Drilling undertaken at Brockmans indicates significant prospectivity and scope for identifying larger tonnages of higher-grade lithium mineralization.
  • Heye Daun, Osino’s President and CEO, commented: “We are excited to receive excellent results generated by Prospect Resources’ team at the Omaruru Lithium Project.
  • The Phase 1 drilling results confirm and expand the success of the early exploration and drilling programs completed by Osino between 2019-2021 and set the stage for a significant, maiden JORC-compliant resource to be delineated at Omaruru later this year.
  • Assay results are highly encouraging with two adjacent holes completed in the southern zone evidencing a new discovery of continuous lithium mineralization.

Osino Attracts Respected ASX-Listed Lithium Developer to Advance Its Lithium Exploration License in Namibia

Retrieved on: 
Friday, September 30, 2022
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VANCOUVER, British Columbia, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF) ("Osino” or “the Company”) is pleased to announce that the Company has entered into an Earn-In and Shareholder Agreement (the “Agreement”) with Prospect Resources Limited (ASX:PSC)(FRA:5E8) (“Prospect”) to allow Prospect to earn up to 51% and potentially up to 85% interest in the Omaruru Lithium Project (the “Project”) in Namibia.

Key Points: 
  • The Agreement allows Osino shareholders to benefit from the potential upside of advancing the non-core lithium potential by a competent and well-financed lithium developer at no cost to Osino.
  • The tenement is situated near several historical and current lithium mining operations, including Lepidicos Karibib Lithium Project located about 10km to the southwest.
  • Prospect is a credible and motivated partner who will advance this lithium project whilst Osino can focus on the continued and fast-tracked development of our Twin Hills Gold project.
  • Osino had previously conducted gold and preliminary lithium exploration on EPL 5533 and pursuant to that we concluded that the gold upside on this license was limited, whilst the lithium potential required a focused and specialist effort from a competent lithium operator.