Metals Australia (ASX: MLS) will on 13 September commence drilling 40 reverse circulation holes at its Mile 72 uranium prospect in Namibia to test priority targets to about 85 metres below surface.
Mile 72 is located within Namibia’s alaskite province, which also hosts Rio Tinto’s (ASX: RIO) Rössing deposit that has produced a total of 123,453 tonnes of U3O8 by the end of 2012 and Swakop Uranium’s Husab deposit.
The drilling targets Rössing-style, alaskite-hosted uranium mineralisation after recent geophysical, radiometric and geochemical exploration allowed the company to refine the geological interpretation of the Mile 72 area.
A large area of the licence is interpreted to be underlain by the potential uranium-bearing target sequence of Damaran schists, granites and alaskites.
The company had in August raised $500,000 through a placement to fund the drill program, future works and for working capital.
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