Exploration Applications

Marenica has completed an extensive review of the exploration potential for surficial calcrete hosted uranium deposits in Namibia and recently applied for five exclusive prospecting licences (“EPL”) in what Marenica consider highly prospective areas. All EPL applications are currently undergoing due process with the Ministry of Mines and Energy in Namibia.

Marenica continues to look for other prospective areas for surficial calcrete uranium deposits in Namibia.

EPL 6987 (Koppies) and EPL 7279 (Ganab)

This area is immediately adjacent to Deep Yellow Limited’s (“DYL”) (ASX: DYL) EPL 3497, containing the Tumas deposit. Drilling by DYL reported in October 2018 highlighted eastern extensions to the recently discovered Tumas East channel, with the most eastern line of drilling within 100 metres of the western boundary of Marenica’s EPL 6987 application. The EPL application adjoins the eastern boundary of DYL’s EPL 3497 along a 17.5 km length, and Marenica’s EPL 7279 application extends that area further to the east (see Figure below).

The Tumas channel flows from east to west, with the source of the secondary uranium deposited in the channel likely to be originating from the mountains to the east. The EPL applications are upstream of DYL Tumas deposit, with the uranium having likely flowed through the area covered by the EPL applications.

DYL’s drill line adjacent to EPL 6987 application boundary are shown as red markings in the Figure below. Based on the results of DYL’s drilling it is likely that the Tumas channel continues into the area of Marenica’s applications.

Location of EPL 6987 & EPL 7279 Applications Relative to Tumas Channel

 

Wet season at EPL 6987

EPL 6988 (650 West) and EPL 7278 (Hirabeb)

Marenica lodged EPL applications with the Ministry of Mines and Energy in Namibia for EPL 6988 and 7278 to the north and east of DYL’s Aussinanis deposit. The channel containing Aussinanis flows from the northeast, once again, likely through Marenica’s EPL application area.

General view at EPL 6988

EPL 7368 (Trekkopje East)

The application area is immediately adjacent to both the Marenica Uranium Project licence area and the Trekkopje licence area.

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