Namibplaas EPL 3638 covers a total surface area of 1,742ha on the farm Namibplaas 93 and is located 7km northeast of the Valencia uranium project.
The project is estimated to have a inferred resource of over 87 million tonnes and 25 million lbs of uranium at a 100ppm cutoff grade.
The results of the recently completed drilling program, along with limited historical drilling were used in the estimation of the deposit.
The mineralization at the Namibplass has been observed to occur within the leucogranites, similar to that of Valencia project.
The drill spacing completed to date is intended to be at 40×40 metres, which is only 50% of the total surface anomaly.
Additional planned drilling will be needed to bring the resources to the indicated category, requirement for reserve estimate and for proper pit planning.
