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Puranium Energy Discovers Significant Uranium Exploration Targets on Southern Properties in Namibian Portfolio
Desktop Study Reveals Significant Historical Exploration Results including a Historical Resource of over 838,000 pounds of U3O8*1 Toronto, Ontario--(Newsfile Co
About this update from Puranium Energy Ltd
[{"type":"text","content":" Desktop Study Reveals Significant Historical Exploration Results including a Historical Resource of over 838,000 pounds of U3O8*1 Toronto, Ontario--(Newsfile Corp. - November 7, 2022) - Puranium Energy Ltd. (CSE: UX) (FSE: 2DK) (the \"Company\" or \"Puranium\") is pleased to announce that the Company has recently completed additional work on the desktop study of its 93,514-hectare property portfolio in the prolific Erongo Province of Namibia. In the recent work, Puranium's technical team focused on Exclusive Prospecting License, EPL-7646 and EPL-8084 (the \"EPLs\", see Figure 1) which cover close to 40,000 hectares and are situated approximately 15 km from the Langer Heinrich Mine. The focus of the desktop study on the EPLs was to compile additional historical exploration reports and develop a work program for the EPLs, which the Company plans to commence in early 2023. The analyzed data showed that significant historical drilling was carried out, resulting in a historical resource, and several high-priority paleochannels were discovered on both EPLs. Recent Desktop Study Highlights: 39 drill holes completed by previous operators delineated 838,200 pounds of U3O8*1 and outlined significant potential for resource expansion (see Figure 2). Historical drilling in the northeastern section of EPL-8084 indicates a prospective two-km-long uranium anomaly within the Tinkas paleochannel. Airborne geophysics and radiometric data, obtained from the Ministry of Mines and Energy, highlight radiometric anomalies coinciding with the historically identified paleochannels (see Figure 3). Several significantly sized and highly prospective paleochannels were identified and will form the basis of a comprehensive work program in 2023. *1 A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves. Initial Exploration Program for EPL-7646 & EPL-8084 An initial exploration program on the EPLs is currently under development and will focus on confirmatory exploration and regional expansion of identified targets. The program will include: Sampling and radiometric surveying on the identified paleochannels Very Low Frequency Electromagnetic survey across channels...