THE DRILL SERGEANT: Marenica Energy (ASX: MEY) announced assay results from a Phase 2 reconnaissance rotary air blast (RAB) drilling program on the company’s Koppies prospecting in Namibia, Africa.
Marenica Energy claimed the Phase 2 RAB drill program has identified exceptional uranium mineralisation at the Koppies tenement, with the best intersections including:
13 metres at 905ppm uranium from 3m, including 2m at 4,504ppm uranium;
10m at 687 ppm uranium from 2m, including 2m at 1,974ppm uranium;
7m at 277ppm uranium from 10m; and
5m at 194ppm uranium from 5m and 2m at 593ppm uranium from 15m.
Marenica highlighted the interval of 2m at 4,504ppm uranium encountered in hole KP055, saying the direction of the palaeochannel in this area is yet to be established, however, this will be the focus of the next drilling program expected to commence shortly.
“With such fantastic results, the Koppies story continues to develop, with excellent grades achieved from Phase 2 drilling, coupled with the discovery of a new highly mineralised palaeochannel at Koppies 2,” Marenica Energy managing drector Murray Hill said in the company’s announcement to the Australian Securities Exchange.
“We look forward to continuing to advance the project over the coming period with expanded drilling to commence shortly.”
Marenica indicated it intends to complete additional HLEM work within the vicinity of Koppies 1 and 2, with its priority to now confirm the extent of the palaeochannels to guide a Phase 3 drill program.
The company plans to complete the Phase 3 drilling before the end of the calendar year with exploration continuing through 2020 to test the extent of mineralisation on the Koppies exploration permit.