Arcadia Minerals Limited says it is in active discussions with multiple potential strategic partners to support the development of its mining assets in Namibia, according to its latest quarterly activities report for the period ending 31 March 2025.
The Australian-listed company noted progress across its exploration and development portfolio, with a particular focus on the Karibib Copper-Gold (Cu-Au) Project, the Swanson Tantalum Mine, and the Bitterwasser Lithium Project.
In its report, Arcadia stated that it had identified several drill-ready targets at three skarn-type mineralised calcsilicate outcrops in the Gamikaubmund area within the Karibib Cu-Au Project.
“Given the Company’s enhanced understanding of the geological setting and mineralisation controls at Karibib, a 1,000-metre RC drilling programme has been planned, which is expected to comprise approximately 15 holes,” the company said.
“The programme will test both the mineralised outcrops at depth and a series of induced polarisation (IP) anomalies interpreted as potential strike extensions of the Gamikaubmund prospects.”
Arcadia added that it “continues to engage with several potential strategic equity partners to support the advancement of Karibib.”
On the Swanson Tantalum Mine, Arcadia revealed that the Information Memorandum has been finalised and a competitive bidding process is underway to raise the remaining US$9.8 million required to complete construction.
“The Board believes that the equipment necessary to complete the plant can be sourced to complete the construction of the processing plant within the set budget of US$9.8M,” the company said.
Arcadia further disclosed that key equipment suppliers in Southern Africa had agreed to reserve critical plant components while financing is secured.
Planned infrastructure includes screens, cyclones, filter press, comminution circuits, pumps, thickeners, and conveyors. The company expressed confidence that all required equipment would be available within budget.
Regarding the Bitterwasser Lithium Project, Arcadia noted that it had entered into discussions with potential strategic equity partners in order to “retain maximum exposure and minimise dilution.”
The Karibib Project is held by Goas Pegmatite Exploration (Pty) Ltd through Exclusive Prospecting Licence (EPL) 4663, which covers approximately 40,986 hectares in the Erongo Region, situated about 45 kilometres south of Karibib.
