Sign up Australia
Proactive Investors - Run By Investors For Investors

African Energy has high hopes to increase uranium resource at Chirundu

African Energy has high hopes to increase uranium resource at Chirundu

Southern African uranium explorer African Energy Resources (ASX: AFR) has commenced drilling at Njame South prospect, part of Chirundu Joint Venture project in Zambia.

Investors may recall that the Chirundu uranium project, JV with Albidon (ASX: ALB) has a total resource 7.4 Mlb U3O8 at an average grade of 293 ppm U3O8.

African Energy will drill 60 holes at Njame South, targeting a ground radiometric anomaly which was previously
drilled and found to contain uranium mineralisation by AGIP in the early 1980’s.

Charles Tabeart managing director of African Energy said this drilling program, plus programs at nearby Siamboka prospect, Gwabe South and Namakande, are aimed at adding additional resources to increase proposed uranium mine life at Chirundu.

Current mine life is 5-6 years.

Assay results from these programmes are expected to be received from late October onwards.

African Energy holds a 70% interest in Chirundu. The company recently raised $4 million for drilling

Register here to be notified of future AFR Company articles
View full AFR profile

African Energy Resources Timeline

November 01 2012

Related Articles

November 24 2016
Broker Numis is getting bullish on uranium again following a new marketing initiative from the Kazakh government. Kazatomprom, the Kazakh-state uranium producer, is the largest producer in the world accounting for 39% of global mine production in 2015.
Berkeley Energia and its Spanish uranium story
March 15 2017
Salamanca, says the group, will be one of the globe's top ten producers and among the lowest cost producers
October 28 2016
Bannerman CEO Brandon Munro commented: “We are delighted with the strength of the response to our placement offering."

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use