‘Most important uranium discovery since Husab’

Marenica Energy finds promising deposit at Mirabib

27 July 2020 | Business

Swakopmund • [email protected]

“In our view, this is possibly the most important uranium discovery in Namibia since [the company] Extract Resources discovered the occurrence of today's Husab mine – the second largest uranium mine in the world,” Marenica Managing Director Murray Hill said of the discovery reported last week.

“It is an exciting uranium discovery in an area that has not been explored using modern exploration techniques,” Hill added.

According to him, the discovery was made on Marenica’s EPL 7278 in an area the company calls Hirabeb, which is another name for Mirabib – a small mountain that is located northeast of the Gobabeb Desert Research Foundation.

Under this prospecting license, Marenica drilled and searched for mineral resources “close to the surface”.

There are two historical dry river networks (Aussinanis) located there, and there the company suspected there could be uranium deposits.

“A network of rivers was identified during exploration, with the main channel of this system extending from the north-eastern to the south-western corner of the prospecting area and spans more than 36km,” the company said, adding that “the uranium deposit was found over a distance of 30km”.

According to information, Marenica only “scratched the surface” during the exploration. The company is therefore assuming a larger, as yet unexplored deposit.

The exploration program cost approximately N$1.4 million and proves that “Marenica is able to make significant discoveries with minimal expenditure”.

The geological team is currently analysing the results to plan the next stage of exploration.

The mining license for EPL 7278 was granted to Marenica last year, along with four other mining licences, which extend over a gigantic area of the Namib-Naukluft National Park. Early in June this year, the company announced that it would continue exploration after the national lockdown came to an end.

In addition to Hirabeb, the prospecting area EPL 6987 known as “Koppies”, also delivered possible uranium deposits.

Marenica’s announcement came shortly after the recovery of international uranium prices in March this year following a long slump.

This also means that the mothballed uranium mine Langer Heinrich will likely start operating again.

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