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THE DAILY ROADHOUSE

 

Metalicity Pegs New Tenements

THE BOURSE WHISPERER: Metalicity (ASX: MCT) announced the acquisition of a further four prospecting and exploration tenements in the Kookynie Area in the Goldfields region of Western Australia.

Marenica Energy Drills Koppies Mineralisation

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.

Rox Resources reports Further High-Grade Results from Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL), in conjunction with its Joint Venture partner Venus Metals Corporation (ASX: VMC), announced further results from an ongoing drilling campaign at the OYG JV which forms part of the wider Youanmi gold project in Western Australia.

Marenica Energy Drills Koppies Mineralisation

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:

KP055
13 metres at 905ppm uranium from 3m, including 2m at 4,504ppm uranium;

KP045
10m at 687 ppm uranium from 2m, including 2m at 1,974ppm uranium;

KP012
7m at 277ppm uranium from 10m; and

KP047
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.

 

Web: www.marenicaenergy.com.au

 

THE DAILY ROADHOUSE

NTM Gold Extends Hub and Redcliffe East Mineralisation

THE DRILL SERGEANT: NTM Gold (ASX: NTM) has completed diamond and RC drill programs at a number of prospects, including Hub and Redcliffe East, at the company’s 100 per cent-owned Redcliffe gold project located near Leonora, Western Australia.

Vimy Resources Raises Funds to Continue Mulga Rock and Alligator River Push

THE BOURSE WHISPERER: Vimy Resources (ASX: VMY) has raised gross proceeds of $3.9 million through a placement to institutional and sophisticated investors.

Marenica Energy Expands Exploration Team

THE BOURSE WHISPERER: Marenica Energy (ASX: MEY) announced a few new additions to its exploration team, with the expectation of support for the expansion of exploration activities on the company’s large uranium tenement position in Namibia.

Marenica Energy Expands Exploration Team

THE BOURSE WHISPERER: Marenica Energy (ASX: MEY) announced a few new additions to its exploration team, with the expectation of support for the expansion of exploration activities on the company’s large uranium tenement position in Namibia.

Marenica indicated the new chums would also add expertise to the advancement of its extensive Australian uranium tenements and deposits that are subject to completion of the acquisition from Optimal Mining Limited.

First new appointment is Jessica Bezuidenhout as general manager – Namibia with responsibilities for overseeing the smooth running of the company’s Namibian operations.

Bezuidenhout is an environmental scientist with 13 years exploration and mining experience in Australia and Namibia, whom Marenica believe will ensure that exploration activities are completed under the most efficient and optimal conditions.

Joining her is Berti Roesener who has been appointed consulting exploration manager – Namibia.

Roesener is a geologist with over 33 years geological experience in Namibia, in particular, on the mineralisation type targeted by Marenica, being calcrete hosted uranium mineralisation.

Dave Princep has been appointed consulting geologist and will oversee, from a technical point of view, all planning, execution and analysis of exploration activities in Namibia.

Princep also has extensive experience on exploration for calcrete hosted uranium mineralisation and mining in Namibia, having worked for Paladin Energy and Deep Yellow on their projects in Namibia, over the last 16 years.

Whilst working at Paladin, Princep also prepared or oversaw the mineral resource estimates on the majority of the Australian tenements Marenica is set to acquire from Optimal – which were previously owned by Paladin – providing him with much knowledge of these assets.

“The addition of these highly experienced personnel to the Marenica exploration team, will support the acceleration in our exploration activities,” Marenica Energy managing director Murray Hill said in the company’s announcement to the Australian Securities Exchange.

“With a combined 80 years of exploration and development experience we welcome these consultants to the team at an exciting time for the company.”

 

Web: www.marenicaenergy.com.au

 

Marenica Energy Raises $1.6M to Continue Uranium Exploration

THE BOURSE WHISPERER: Marenica Energy (ASX: MEY) completed a capital raising for a total of $1.6 million.

Marenica Energy completed the placement of approximately 16 million fully paid ordinary shares at an issue price of 10 cents per share plus around 16 million free attaching options, expected to raise an approximate total of $1.6 million.

The company explained the options will be granted on the basis of one option for every share subscribed and have an exercise price of 17 cents per share, exercisable within two years.

The placement was completed to sophisticated and new institutional shareholders with Patersons Securities Limited as lead manager.

Marenica said the funds raised will be applied to fund exploration activities and working capital, including to continue to explore Marenica’s Namibian uranium tenement portfolio and, its extensive tenement position in the Erongo region.

Marenica has been granted five new tenements in the Erongo region and it plans to progressively explore each tenement as soon as possible.

Drilling has commenced on the first of those tenements, being EPL 6987, known as Koppies.

The company also intends to advance its Australian uranium projects, being the Angela, Thatcher Soak, Minerva and Oobagooma project areas and Joint Venture holdings in the Bigrlyi, Malawiri, Walbiri and Areva JV, subject to completion of their acquisition from Optimal Mining Limited.

The company will also continue to assess the application of its patented U-pgrade™ beneficiation process to third party assets.

“Over the past 12 months, we have assembled an impressive portfolio of tenements and in the near-term, we expect to have the largest uranium tenement holdings in Namibia,” Marenica Energy managing director Murray Hill said in the company’s announcement to the Australian Securities Exchange.

“We are excited about the potential of the drilling which has recently commenced on EPL 6897 in Namibia and the expected extensions of that drilling into our tenement applications.

“Marenica’s recent counter-cyclical agreement to purchase high-grade uranium resources in Australia, averaging 859ppm U3O8, will increase our uranium resources by 48 million pounds U3O8, when and subject to the expected completion of the acquisition in September.

“Following completion of the acquisition, Marenica will have one of the largest uranium resource inventories of ASX-listed companies, diversified by location and with a revolutionary uranium beneficiation process.

“Based on this, Marenica is set up for an expected turnaround in the uranium sector.

“Marenica continues its exciting phase of development in the uranium space.”

 

 

Website: www.marenicaenergy.com.au

 

Mareinca Energy Granted New Namibia EPLs

THE BOURSE WHISPERER: Marenica Energy (ASX: MEY) has followed the granting of EPL 6987 (Koppies) last month, with the Namibian Ministry of Mines and Energy granting an additional four exclusive prospecting licences (EPL 7278, 7279, 7368 and 7436).

Marenica Energy sai the new EPLs has increased its ground position in the Namib area to 308 square kilometres.

The company considers the grant of these licences as an important step in the execution of its acquisition strategy adding it could now commence planning of exploration programs on these EPLs.

The shallow nature of the drilling and the low unit cost for drilling in Namibia enables extensive low-cost exploration to be undertaken.

Three of the newly granted EPLs are in the Namib region, adjacent to or within close proximity to the Koppies EPL, which incorporates the eastern extensions of the Tumas palaeochannel.

These EPL’s, plus three other EPL applications, incorporate areas that are interpreted to feed into the Tumas palaeochannel system which hosts multiple uranium deposits, including the Tumas and Tubas uranium deposits owned by Deep Yellow (ASX: DYL).

Marenica also announced that following a decision by the Government of Namibia to remove the requirement for local ownership of EPLs, to encourage foreign investment, it has been able to increase its ownership of the Namib tenements to 100 per cent.

“The grant of these new licences is an important step in executing our strategy in Namibia and compliments the grant of the Koppies EPL,” Marenica Energy managing director Murray Hill said in the company’s announcement to the Australian Securities Exchange.

“It is also pleasing that Marenica has been able to consolidate its ownership of the Namib EPLs to 100 per cent.”

 

Website: www.marenicaenergy.com.au

 

Marenica Energy Commences Namibia Uranium Drilling

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.”

 

Website: www.marenicaenergy.com.au

 

Marenica Energy Granted Strategic Uranium Licence

THE BOURSE WHISPERER: Marenica Energy (ASX: MEY) has been granted exclusive prospecting licence (EPL) 6987 in Namibia.

Marenica Energy explained the EPL 6987, known as Koppies, covers part of the eastern extension of the Tumas palaeochannel, which hosts other uranium deposits, including the Tumas and Tubas uranium deposits owned by Deep Yellow (ASX: DYL).

Drilling results reported by DYL during 2018 for the Tumas East uranium prospect, came within 100 metres of the boundary with EPL 6987 leading to the subsequent release of an inferred resource in excess of 60 million pounds uranium in the Tumas palaeochannel.

“Securing the Koppies license is an exciting and strategic development for the company,” Marenica Energy managing director Murray Hill said in the company’s announcement to the Australian Securities Exchange.

“Koppies is adjacent to Deep Yellow’s – Tumas East uranium deposit and is the first of our EPL applications to be granted in the greater Namib project area.

“Historical drilling results obtained for the Koppies license has enabled the estimation of an Exploration Target.

“The historical drilling results cover an area 1,000 metres in an east-west direction and 800 metres from north to south, providing Marenica with many significant drilling targets to pursue.

“Drilling costs in Namibia are low compared to Western jurisdictions, we cannot wait to start drilling on the Koppies licence.”

 

Website: www.marenicaenergy.com.au