Australian firm to have largest uranium land holding in Namibia, if all permits are granted
Australian Stock Exchange listed company, Marenica Energy identified highly prospective exploration targets and has applied to secure the underlying tenements.
The firm said it will have the largest uranium land holding in Namibia, if all exploration permits are granted, according to a statement.
According to the firm nine exclusive prospecting licence applications were lodged with the Ministry of Mines and Energy over the past year; these applications are currently undergoing due process.
As each EPL is granted, Marenica intends to commence exploration for uranium. Mile 72 is a granted EPL and exploration has commenced, they added.
“This is a very exciting time for the company with excellent uranium exploration occurrences identified. We have commenced exploration activities in Namibia and we look forward to the initial results from these programmes in the near term,” Murray Hill, Managing Director said.
Marenica’s acquisition strategy is already beginning to bear fruit, with Deep Yellow Limited’s most eastern drill line, at Tumas on EPL 3497, being within 100 metres of Marenica’s EPL applications.
Tumas is located on a palaeochannel that passes through Marenica’s EPL applications.