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Market: ASX
Sector: General Mining - Uranium & Lithium
EPIC: MEY
Latest Price: A$0.01  (0,00%)
52-week High: A$0.05
52-week Low: A$0.01
Market Cap: A$6.52M
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Marenica Energy
www.marenicaenergy.com.au

Marenica Energy's  (ASX: MEY) strategy is to focus on the evaluation of the Marenica Project as well as to identify and acquire other uranium opportunities globally.

The Company's 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.

Pdf

West Australian Metals report positive assay results from Scaddan Lignite Project

10th Nov 2009, 2:25 pm West Australian Metals report positive assay results from Scaddan Lignite Project

West Australian Metals (ASX: WME) believe the latest drill results from the company's Scaddan Project near Esperance gives rise to potential for a large lignite deposit suitable for coal to liquids conversion.

The news saw shares in the company rise by 1c, or 7.4%, to 14.5c.

In the latest drilling, a total of 1460m of air core drilling was conducted on WME’s combined exploration licences E63/1033 and E63/1037 at Scaddan during September.

The tenements lie within Crown Land approximately 75kms NNE of Esperance and within 20kms of the Scaddan Deposit, owned by ASX-listed resource company Blackham Resources Limited (ASX: BLK).

Blackham has delineated a large palaeochannel hosted lignite deposit comprising an Indicated and Inferred Resource of 760Mt. The project is at feasibility stage based on the proposed use of proven coal to liquids technology.

The WME drilling was aimed at scoping the potential for a significant lignite deposit of comparative economic value from the completion of 32 holes for an average 45m depth penetrating to either basement or to thick saprolitic clays beneath the lignitic zone.

Drill spacing was approximately 2km by 2km considered sufficient for the classification of an Inferred Resource, and based on interpretation of palaeobasin thickness and geometry from geophysics. The initial wide spaced drilling was designed to focus on preferred areas for future infill drilling to Indicated Resource status.

In a statement, WME said composite assays from the aircore drilling have outlined a large area of lignite material that is potentially suitable for coal to liquids conversion technology.

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