Brines Mining and Exploration Namibia (BME), a 50%-owned associate of the Arcadia Minerals, has agreed to acquire three new prospecting licences in Namibia.

Located adjacent to Arcadia’s Bitterwasser lithium project, the new licences consist of an inferred JORC Mineral Resource of 15.1 million tons at 828 parts per million lithium and 1.79% potassium.

The three licences, which are being purchased from LexRox Management Services, a South African company owned and operated by the executive directors of Arcadia.

Expected to contain lithium-in-brine aquifers, the licences are located near the towns of Kalkrand and Hoachanas in the Hardap Region of central Namibia.

As per terms of the deal, BME has to pay $64,769 to purchase a 25% stake in three licences by May next year.

Following the initial acquisition, the company has to pay an additional $129, 539 to purchase a 100% interest in the licences.

The acquired licences are expected to complement Arcadia’s 3,438km² tenure at the Bitterwasser lithium project.

Arcadia stated: “The mineral resource represents only 6% of the exposed clay pans within the three new EPL’s covering 593km² and provides the company with extensive geological knowledge to help in its understanding of the lithium potential on its existing 3,438km² of clay pans and brines potential.”

The acquisition, if approved, will increase Arcadia’s land holding to 4,031km2, which covers most of the prospective ground over the Kalkrand Half-Graben.

According to the company, the Kalkrand Half-Graben shows first order requirements that could qualify it as the world’s latest district scale lithium province similar to Clayton Valley in Nevada, US.

Arcadia is a Namibia focused exploration company, with a focus on battery metals. Its the battery-metals portfolio consists of the Kumn-Kum Nickel project, the Bitterwasser lithium-in-brines and lithium-in-clays project and the Karibib copper project.

The Bitterwasser project is comprised of four exclusive exploration licences, which are all held by BME. The project covers a total area of 343,894ha.