Prospect Resources Limited announced that all conditions precedent to its Shareholder Agreement with Osino Resources Corp. have now been satisfied and it has commenced exploration activity on the highly prospective Omaruru Lithium Project (Omaruru) in Namibia. Omaruru, comprising the EPL 5533 tenement, is centred on the village of Wilhelmstal, east of Karibib in Namibia and covers 175 square kilometres.

It is located near several mining operations, including Lepidico's Karibib Lithium Project. EPL 5533 contains over 60 visible, outcropping pegmatites of variable size, some of which (notably Karlsbrunn) have been subject to limited near surface lithium and beryl mining. Only three pegmatites have been the subject of drilling to date.

Prospect's initial geophysical and geochemical exploration activities have commenced at Omaruru with both a Ground Penetrating Radar (GPR) survey, airborne DTM survey and soil sampling activities in progress. Geochemical soil sampling is initially focussed on areas of potential extension to the known mineralisation, where pegmatites do not visibly outcrop. Prospect's initial RC drilling programme of approximately 2,000m is expected to commence immediately.

This is set to focus on the Karlsbrunn and Brockmans pegmatite targets.