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ERONGO ENERGY LIMITED - ASX: ERN
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Description
The company’s principal activity is the exploration of its highly prospective uranium projects in mid central Namibia. Namibia has a long history of exploration and mining of uranium and is currently the world’s fifth largest producer of uranium, mostly from Rio Tinto’s Rossing Mine.
The company has two highly prospective uranium projects:
* Erongo Granites project, which covers 312 sq kms. The Company is targeting intrusive style granite-hosted uranium deposits. Drilling to date has confirmed a main zone of uranium mineralization over an area of 1,000 metres by 1,000 metres. The uranium mineralization includes an area of higher grade mineralisation covering 600 metres by 300 metres.
* Spitskoppe project, which covers 505 sq kms. The Company is targeting secondary calcrete-hosted mineralisation as well as granite-hosted mineralization.
Namibia has a progressive mining regime with strong government support. There is little sovereign risk and no native title. Namibia’s Mining Act is based on the Canadian model. The country has good existing infrastructure that helps result in fast lead times for project development. Namibia has seen a number of significant new uranium discoveries in recent years and is considered highly prospective for further discoveries.
Mine For
uranium, mineral sands
Location of operation(s)
Namibia
Address
30 Ledger Road
BALCATTA, WA, AUSTRALIA
Phone
(08) 9240 8801
Website
http://www.erongoenergy.com.au
Last Updated
21/04/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.