THE DRILL SERGEANT: Marenica Energy (ASX: MEY) has commenced drilling at the company’s Mile 72 uranium project (EPL 3308), located in the North West of the Erongo Region of Namibia.
Marenica Energy acquired Mile 72 in May 2018 and has assessed exploration potential within the project area whilst obtaining government approvals to commence on-ground exploration.
The company has identified multiple potential exploration targets that it is currently prioritising.
Marenica has recently been undertaking electromagnetic (EM) surveys to locate the historic palaeochannels to assist in identifying drill targets.
The company has now commenced drilling at the initial target area.
“It is truly exciting that Marenica has commenced this drilling program at Mile 72,” Marenica Energy managing director Murray Hill said in the company’s announcement to the Australian Securities Exchange.
“We have an exciting exploration ground position at Mile 72 and expect to undertake ongoing drilling programs at the project.
“Also, last week we were granted the highly prospective EPL 6987 and await the grant of nine other additional exploration licence applications in Namibia, which once granted, are expected to provide many additional uranium exploration opportunities.
“We are encouraged that these opportunities are presented to the company, when investment markets sentiment towards uranium is gaining positive momentum.”