The exploration licenses comprise an area in which company’s consulting geophysicists, Paterson, Grant & Watson (PGW), previously identified a number of uranium anomalies as part of PGW’s interpretation for IBI of data from Block 2 of the Uganda Aerial Minerals Survey of Uganda.
Already, IBI holds exploration rights for uranium on its 1,263-square kilometer (km) initial Mubende property.
The majority of IBI’s area of interest in the Mubende area is underlain by the PreCambrian Mubende intrusive granitic batholith (MuGr). About 30 areas of anomalous uranium concentration have been detected within the MuGr complex.
PGW has suggested that a program of reconnaissance sampling and spectrometer surveying over the primary targets within all of IBI’s Mubende properties must be undertaken to confirm the possible presence of uranium mineralization.
Depending on the results of expected exploration activity, company’s Mubende property holdings are estimated to comprise a foundational element in the IBI’s announced strategy to seek to develop a public/private partnership with the Government of Uganda for the development of a Nuclear Energy Program for Uganda utilizing Uganda’s potential uranium resources as a base fuel stock.
IBI is an international mining and investment company.
