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Koppies strategically adds to Marenica’s license position in the area

Koppies strategically adds to Marenica’s license position in the area

Australian Stock Exchange listed company, Marenica Energy Limited recently announced that it was granted exclusive prospecting licence EPL 6987 in Namibia.

EPL 6987, known as Koppies, covers part of the eastern extension of the Tumas palaeochannel which hosts other uranium deposits, including the Tumas and Tubas uranium deposits owned by Deep Yellow Limited (DYL).

According to the company’s website drilling results reported by DYL during 2018 for the Tumas East Uranium Prospect, came within 100 metres of the boundary with EPL 6987. On 11 July 2018, DYL announced an inferred resource in excess of 60 Mlb U3O8 in the Tumas palaeochannel

Marenica Managing Director, Murray Hill, said “securing the Koppies license is an exciting and strategic development for the Company. Koppies is adjacent to Deep Yellow’s – Tumas East Uranium Deposit and is the first of our EPL applications to be granted in the greater Namib Project Area. Historical drilling results obtained for the Koppies license has enabled the estimation of an Exploration Target.”

“The historical drilling results cover an area 1,000 metres in an east-west direction and 800 metres from north to south, providing Marenica with many significant drilling targets to pursue,” he said.

Drilling costs in Namibia are low compared to Western jurisdictions, and the company cannot wait to start drilling on the Koppies licence, Hill added.


 

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