Rocky Point Phosphate, Namibia
(MAK 70% Equity) - This project is also subject to the conditional Sale Agreement with Mawarid Mining LLC.
The Rocky Point Project comprises some 4,000km2 in granted licences. The project area incorporates the core area of the marine phosphate mineralisation province, to the north of Walvis Bay where published regional mapping indicates phosphate content of greater than 20% by weight. The tenements are held by Minemakers Tungeni Joint Venture Exploration (Namibia) (Pty) Ltd in which Minemakers holds a 70% interest and is the Project Operator. Namibian partners, Tungeni Investments cc hold 30% interest.
An initial shallow penetrating grab sampling programme in 2011 confirmed widespread phosphate mineralisation. Although grades equivalent to those at Sandpiper were found in some areas, overall mineralisation was not as high.
Further, deeper testing was recently carried out and results will be reported in due course.