HARARE – Australia domiciled Prospect Resources Limited, which is developing the multimillion-dollar Arcadia Lithium Project in Zimbabwe, has made a rare find at the operation – caesium deposits.
It could be a turning point for the junior miner that is quoted on the Australian Stock Exchange, for caesium, a key input in high temperature/high pressure oil and gas drilling, is in short supply in the world.
Infect, Prospect said on Tuesday Caesium is a rare mineral.
“It is strongly suspected that there is a swarm of east-west mineralised pegmatites (lepidolite + caesium bearing) lying under the agricultural field at Shabaash to the west,” said Prospect Resources managing director, Sam Hosack.
Shabaash is one of Arcadia’s claims. He said the firm was convinced that prospects for ‘hidden deposits are immense’.
“Prospect Resources is pleased to announce the presence of significant caesium concentrations in soil, from a number of satellite bodies to Arcadia, notably the Shabaash,” Hosack said.
“The identified caesium occurs within pollucite, a high value rare caesium mineral that forms in extremely differentiated lithium-caesium-tantalum pegmatite systems. Global supply is very constrained. The primary use of caesium is in caesium formate brine used in high temperature/high pressure oil and gas drilling,” said Hosack.