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Gold explorer describes complexities of Twin Hills project, cautions against unsubstantiated expectations about its economic potential

Gold explorer describes complexities of Twin Hills project, cautions against unsubstantiated expectations about its economic potential

The exploration company behind the Twin Hills gold project, Osino Resources, this week shed some light on their activities in the Namibian mining environment, and on their further development of this little-known but complex gold deposit.

The Osino founder and Chief Executive, Heye Daun told the Economist that they have a portfolio of 24 exclusive prospecting licences (EPLs) across Namibia. These they have acquired, either by direct application to the Ministry of Mines and Energy, or through so-called earn-in agreements with at least 11 other EPL owners. Daun pointed out however, that Osino is the majority owner in most of the active EPLs, and that they are the sole operator in all of their exploration work.

This includes their current work on the Twin Hills project. “Osino has been systematically exploring our Namibian license holding with the vision of discovering Namibia’ next significant gold deposit. Our activities have been increasingly focussed on the area between Wilhelmstal, Karibib and Omaruru, where our pioneering techniques have resulted in the delineation of a geologically prospective gold trend, centred around the recently announced Twin Hills gold discovery. Twin Hills has so far only seen a very limited amount of drilling, and there is no certainty at this stage about its future economic potential,” he said.

During 2020 and 2021 Osino will complete extensive drill programmes in the area with a view to defining a code-compliant gold resource and to make additional gold discoveries on the remainder of its license position. “Twin Hills remains a complex, early-stage gold exploration project which will require significant additional investment over the coming years, before any definitive assessment of its potential can be made,” Daun said.


Caption: Osino Resources Exploration Geologist, Theresia Malobela (left) with junior geologists, Johannes Sales (centre) and Linda Hishoono at the Twin Hills drill site. (Photograph by Stefan Redecker)


 

About The Author

Daniel Steinmann

Brief CV of Daniel Steinmann. Born 24 February 1961, Johannesburg. Educated at the University of Pretoria: BA, BA(hons), BD. Postgraduate degrees are in Philosophy and Divinity. Editor of the Namibia Economist since 1991. Daniel Steinmann has steered the Economist as editor for the past 29 years. The newspaper started as a monthly free-sheet, then moved to a weekly paper edition (1996 to 2016), and on 01 December 2016 to a daily digital newspaper at www.economist.com.na. His editorial focus is on economic analysis based on budget analysis, disecting strategic planning and assessing the impact of policy formulation. For eight years, he hosted a weekly talk-show on NBC Radio, explaining complex economic concepts to a lay audience in a relaxed, conversational manner. He was a founding member of the Editors' Forum of Namibia. Over the years, he has mentored scores of journalism students as interns and as young professional journalists. He often assists economics students, both graduate and post-graduate, to prepare for examinations and moderator reviews. He is the Namibian respondent for the World Economic Survey conducted every quarter for the Ifo Center for Business Cycle Analysis and Surveys at the University of Munich in Germany. He is frequently consulted by NGOs and international analysts on local economic trends and developments. Send comments to daniel@economist.com.na