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Marenica Uranium Project

A highly prospective uranium project in world-class region of Namibia

Our 75%-owned Marenica Uranium Project, which covers 321 square kilometres, is located in the Erongo region of Namibia, a world-class uranium province.

It has an inferred resource of 61 million pounds across two deposits, the Marenica and MA7 deposits. The resource is a surficial calcrete hosted uranium deposit in the same palaeochannel system that hosts Orano’s Trekkopje Uranium Project, and also shares similar mineralogical characteristics to Paladin’s Langer Heinrich deposit and Deep Yellow’s Tumas deposit.


General view at Marenica Uranium Project

Resource

The total Marenica Project resource at a 50 ppm cut-off grade is 61 Mlb at 93 ppm U3O8.

Marenica Uranium Project

Total Mineral Resources as at 30 June 2018 (at a 50ppm U3O8 cut-off grade)

Resource

 Category

Tonnes

(millions)

U3O8 Grade

(ppm)

U3O8

Mlbs

Marenica

Indicated

26.5

110

6.4

Inferred

249.6

92

50.9

Total

276.1

94

57.3

MA7

Inferred

22.8

81

4.0

Total

22.8

81

4.0

TOTAL

298.9

93

61.3


Carnotite in calcrete ore

U-pgradeTM's Impact on project economics

The 2017 Scoping Study ("Study") on the Marenica Uranium Project found that the project's value greatly increased when using the U-pgradeTM  process. Capital and Operating costs were reduced by ~50% compared to conventional processing, which would result in the project achieving industry competitive capital and operating costs.

The Study estimated C1 operating costs to be ~US$40-45/lb, with a total estimated development cost of US$90 million for a 7 million tonne per annum processing plant.

The project is situated close to existing uranium refineries that could process the U-pgradeTM concentrate.  The use of a pre-existing leach/refinery facility would further reduce capital development costs.

Excellent mining-focused infrastructure

The project is located within a global mining jurisdiction, which means that it benefits from the local infrastructure which is geared up for the mining industry, including port access, road, rail, water and power. The supportive government and highly experienced local workforce also adds to the positive mining environment.


Coastal town of Swakopmund


Swakopmund golf course

a CUUB2 site