A Snow Lake Resources field crew has set up a camp at the Engo Valley Uranium Project, ready to start the 2024 exploration program.
Snow Lake Resources entered into a binding letter of intent with a private British Columbia company, Namibia Minerals and Investment Holding, to acquire up to 85%.
Namibia Minerals and Investment Holding is the sole registered and beneficial owner of 100% of the rights, title, and interests in EPL-5887.
Although the acquisition remains subject to customary closing conditions, Snow Lake has designed a multi-phase exploration program for 2024.
Exploration field crews began mobilising to the site in May to undertake the field portion of Phase 1 of the program.
Results from the radon cup survey, the initial phase of drilling, and the downhole gamma logging will inform the second round of drilling.
Snow Lake Resources CEO Frank Wheatley said the exploration field crews have started the first exploration program on the Engo Valley Uranium Project since the 1970s.
“The topographical survey, ground geophysics, and the radon cup survey are well underway, and our crews continue to locate drill collars from the historic 1970s drill campaign in anticipation of the first drill program to be undertaken on the project in the past 40 years,” Wheatley said.
The project is located on the Skeleton Coast, in the Opuwo District of the Kunene Region, along the coast of northwest Namibia, approximately 600 kilometres north of Swakopmund, Namibia.
It covers an area of 69,530 hectares, is valid until February 12, 2026, and covers base and rare metals, industrial minerals, non-nuclear fuel minerals, nuclear fuel minerals, precious metals, and precious stones.
It is accessible from the south via 190 km of desert track roads from Mowe Bay via the Sarusas mine.
To the east, unconfirmed track roads connect the project area to the settlement of Orupembe.
Uranium mineralisation was discovered on the project in 1973. Gencor conducted intermittent exploration between 1974 and 1980, and based on that work, Gencor calculated a historical, non-current mining code-compliant resource estimate for the project.
The project is considered to be a top-tier exploration project.
