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Market:	ASX
Sector:	General Mining
EPIC:	MEY
Latest Price:	0.02 (0.00%)
52-week High:	0.10
52-week Low:	0.02
Market Cap:	9.47M

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Marenica Energy Full Marenica Energy profile here

Marenica Energy's (ASX: MEY) principal asset is the Marenica Uranium Project located in the uranium rich Damara Province in Namibia.

The project covers 527sq km, with high prospectivity for both secondary and primary uranium deposits. Marenica Energy's strategy is to focus on the evaluation of the Marenica Project as well as to identify and acquire other uranium opportunities globally.

West Australian Metals downhole probe at Marenica Dome points to enhanced uranium resource

Monday, June 29, 2009 by Proactive Investors

Namibian focussed uranium developer West Australian Metals (ASX: WME) has reported encouraging downhole probe results from the recently completed HQ diamond drilling program at its 80%-owned Marenica Uranium Project in Namibia, Southern Africa.

The program was designed to provide geological and structural information along the southern and eastern margin of the Marenica Dome in areas considered to be prospective for primary uranium mineralisation in granite.

Highlights of the downhole probe results (using a 100ppm eU3O8 cut-off) include:

- MARD034 12.6 to 19.1m, 6.5m @ 183ppm eU308
- MARD036 4.8 to 13.10m, 8.3m @ 150ppm eU308
- MARD037 7.5 to 20.2m, 12.7m @ 135ppm eU3O8
- MARD037 37.9 to 42.5m, 4.6m @ 157ppm eU3O8
- MARD037 70.0 to 77.5m, 7.3m @ 130ppm eU3O8

Interestingly, the eastern target was not considered a high-priority target. However, the results have confirmed the potential for a primary uranium deposit within the Marenica Dome. Discovery success in this regard would significantly enhance the Marenica Project, which currently hosts a large, bulk tonnage Inferred Resource of 111 million tonnes averaging 140ppm U3O8 for 34 million pounds of contained U3O8.

Uranium grades and the granite geology are similar to other granite-hosted uranium deposits in Namibia such as Forsys Metals Corp's (TSX: FSY) Valencia Project, where total Measured and Indicated Resources of 164 million tonnes at 110ppm U3O8 for 41 million pounds have been reported.

WME has taken an aggressive approach to the evaluation of primary uranium mineralisation at the Marenica Project, with exploration drilling planned to start in August. The Project is located in one of Africa’s premier uranium mining jurisdictions, approximately 70km north west of the Rossing Mine, the most productive hard rock uranium mine in the region.

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