Namibia Concession Highlights
• Signed LOI for 85% interest into Rössing North 38,570 ha land package in Namibia Africa hosting, compliant U3O8 historic estimate with expansion potential
• Projects are close proximity to Rössing and Husab Uranium mines, paved gravel road access, power, water, town all within few kms
• Rössing North project contains an historic estimate of over 9 million lbs U3O8 as per the Mineral Resource Estimate, EPL-3524 and EPL3624, Namibia report conducted by SRK Consulting 2015
• Limited drilling proven open in all directions for easy expansion
Rössing North SRK Resource
SRK recommends further exploration to determine extensions of discovered mineralization in Areas 1 &3 and other areas of the EPLs not yet drilled
• Historic estimate of 15.62Mt @ 266ppm U for 9.14Mlbs of U3O8 (SRK 2015) defined in target area 1 & 3 only
• Resource remains open along strike and at depth in well defined alaskite beds
• Mineralization is Primary Alaskite – similar to the Rössing Mine
• Current drilling has been to a maximum depth of only 100m majority of holes drilled to 40m ending in mineralization
• SRK recommends further exploration in areas 1 & 3
• Area 1 & 3 have a historic estimate of 9 million lbs.
• Work completed by previous operators identified 11 target areas with significant U3O8 potential(1)
Rössing North Resource Expansion Potential.
• In total 11 Areas have been identified as highly prospective targets to expand resources
• Targeting both primary alaskite mineralization and secondary
• Sediment hosted uranium mineralisation (ISR potential)
• SRK recommends the undertaking of further exploration with a view to determining both extensions to Areas 1 &3 of mineralization already discovered in Rössing North and other areas of the EPL’s not yet drilled.
Primary uranium mineralisation of significance is limited to the Central Southern Zone which hosts all the major primary uranium occurrences known today in Namibia.
Large volumes of u-bearing leucogranite intrude a limited stratigraphic-range, occasionally cross-cutting into basement but mainly into stratigraphic units directly above and below the Swakop Group contact.
It is at this stratigraphic level where the largest uranium reserves in Namibia are found; the Husab Mine, the Rössing Mine, the Valencia project and the Etango deposit at Goanikontes to name the most significant.
The various domes of the Central Zone and their associated primary uranium deposits. The Welwitschia Lineament is a regional magnetic trend produced by late kinematic movement which truncates and postdates D3 structures.
Data sources; Corner (1981, 1983); Eberle et al. (1995); Anderson and Nash (1997); Basson and Greenway (2004) and Kinnaird and Nex (2007).