Bannerman Resources Limited (ASX:BMN) has obtained a renewal of its exclusive prospecting licence by the Namibian Ministry of Mines and Energy to explore potential satellite deposit targets at its Etango Uranium Project.
The prospecting renewal is valid until April 25, 2021, and adjoins the Etango project area which is covered by a mineral deposit retention licence (MDRL).
Bannerman’s chief executive officer Brandon Munro said: “We are grateful for the continued support Bannerman receives from the Namibian Ministry of Mines and Energy, who have processed the renewal of EPL3345 efficiently and promptly.”
As required by the Minerals (Prospect and Mining) Act of Namibia, Bannerman reduced the licence area by 25%.
The MDRL covers 7,295 hectares and includes the Etango ore body, two satellite deposits at Hyena and Ondjamba and all planned mine infrastructure.
On February 28, 2019, reconnaissance drilling within the prospecting licence area indicated additional satellite feed potential from the Ombepo target, 7 kilometres from the proposed Etango primary crusher.
A total of eight reverse circulation (RC) drill holes were drilled for 973 metres, testing the Ombepo and Rossingberg targets north of Etango.
Four drill holes for 575 metres were drilled at the Ombepo prospect and four drill holes for 398 metres were drilled at Rossingberg.
Highlighted results included:
2 meters at 452 ppm uranium from 70 metres;
13 metres at 203 ppm from 146 metres, including 2 metres at 401 ppm from 147 metres;
19 metres at 203 ppm from 140 metres, including 5 metres at 372 ppm from 153 metres; and
11 metres at 238 ppm from 153 metres.
Both targets have been retained within the renewed licence area.