New drilling results from Marenica Energy Limited (ASX:MEY) Phase 3 reverse circulation (RC) drilling programme at the Koppies tenement in Namibia have confirm an extensive mineralised paleochannel.
The new paleochannel at Koppies 2 is currently estimated to be up to 1.2 km wide and at least 3.6 km long, however, newly completed horizontal loop electromagnetic (HLEM) surveys indicate it may potentially be significantly bigger.
The results included exceptional assay interval of one metre at 7,060 ppm U3O8 contained within an intersection of three metres at 3,087 ppm U3O8 in hole KOR62.
Managing Director, Murray Hill, said this is the highest-grade metre interval to date from all drilling campaigns conducted by Marenica at the Koppies EPL.
Additional HLEM surveys and a drill program are being planned for the eastern end of the Koppies 2 paleochannel.
“The continued intersection of high-grade uranium mineralisation at the Koppies 2 paleochannel, is encouraging from a grade and size perspective,” Mr Hill said.
“In addition, HLEM surveys indicate the paleochannel extends further to the north-east and south-east, beyond the area drilled to date.
The Koppies 2 paleochannel has increased in size with each stage of exploration and indications are that it is substantially larger than the current size of up to 1.2 km wide and at least 3.6 km long. The paleochannel remains open to the east.
“The Koppies story continues to develop, with high-grade drilling results being achieved, supporting the strategy that excellent exploration potential remains within the 2,494 square kilometres of tenements held by the company in the Namib area.”
Additional drilling will be undertaken to assess extensions to the eastern end of the paleochannel, which have already been identified by HLEM surveys and further HLEM will be undertaken to determine additional extensions of the Koppies 2 paleochannel system beyond the area that has already been drilled. The ongoing exploration programs will be aimed at defining the full extent of the mineralised system at Koppies 2.