logo-loader
MiningCoal
African Energy Resources (Guernsey) Ltd.

African Energy has high hopes to increase uranium resource at Chirundu

au_africamap350_4aa9c174cd07c.jpg

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

Quick facts: African Energy Resources (Guernsey) Ltd.

Price: $0.02

Market: ASX
Market Cap: $10.65 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Northern Minerals reveals talks with US government agencies,...

Northern Minerals Ltd (ASX:NTU) CEO George Bauk tells Proactive he recently met US government agencies, who he says wanted to get a better sense of the Australian company's progress with its dysprosium production, and its strategy going forward. Bauk is currently in New York meeting with...

2 days, 20 hours ago

2 min read