Representatives from SRK Consulting are on site from the July 17, 2009 to supervise QA/QC procedures relating to the initial 5000 m of RC drilling. The new campaign will also include a 100-hole exploration program to the west of the known resource. Ground radiometrics and mapping have recently been completed in this area, which will be tested for additional secondary uranium resources. The radiometric image below is superimposed on the recently purchased Quickbird satellite imagery. The radiometric anomaly is orientated east-west along the southern margin of the Marenica dome.
A further 5000 m is allocated to exploration for primary mineralization within and north of the Marenica dome following on from successful results achieved in exploration diamond drilling. The company is in the process of obtaining drill clearances, with drilling planned to start in August 2009.
Ground radiometric surveys and mapping is underway over the Phillipus and Springbok targets, to date about 100 line kilometers of data has been collected. A total of 50 rock-chip samples were collected from radiometrically anomalous areas in the northern part of the tenement area. The Philippus and Springbok prospects are identified as high-tenor airborne radiometric anomalies, with field reconnaissance identifying primary uranium mineralization associated with altered alaskitic granites and pegmatites.
The third stage of the new program will see Terratec Geophysical Services undertake down-hole probing of about 750 historic holes. On completion of the re-probing and infill RC program, a recalculation of the resource will be completed by SRK Consulting, aimed at converting a large part of the known resource to the indicated category.
The current inferred resource at Marenica stands at 111Mt at 140ppm U3O8 (17,000 tonnes or 34Mlb of contained U3O8).
The Marenica Project is located 70km north of Rio Tinto’s Rossing Uranium Mine in one of the significant emerging uranium.
The new drilling program and associated studies are designed to define a processing route that will enable the company to start a scoping study later in 2009.
