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Exploration at Tumas 3 encounters high uranium mineralisation

Exploration at Tumas 3 encounters high uranium mineralisation

Deep Yellow, an Australian uranium exploration company this week said its first drilling campaign conducted under the direction of the new management team has produced a highly successful overall result.

According to Deep Yellow Managing Director, John Borshoff in a statement, more than 70% of the 400 holes drilled (averaging 26m in depth) over the Tumas 3 target zone encountered mineralisation higher than the 100 ppm eU3O8 over 1 metre cut-off tested on a methodical 100m x 100m drill spacing.

This work has identified a significant mineralised zone at Tumas 3. This is not only expected to add to the current uranium resource base of this project but, more significantly, emphasises the strong exploration potential of the uranium-fertile, extensive palaeochannel system within which the new Tumas 3 discovery occurs,” he added.

Tumas 3 is now the fourth mineralised zone identified (after Tumas 1 & 2 and Tubas Sand/calcrete deposits) occurring within the 125km of palaeochannels that occur within the Reptile project tenements.

According to the mining firm, some 80%, or approximately 100km, of these palaeochannels remain to be properly tested.

These new positive results both from drilling and reinterpretation of historic exploration data provide management with increasing confidence that the existing uranium resource base for Langer Heinrich style deposit/s within the Reptile project area can be further increase,” he said.

According to Borshoff, the next drilling campaign is planned to follow both the completion of the Tumas 3 resource estimation, expected to be reported late in the current September quarter and analysis of the planned geophysics surveys.

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Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.