Snow Lake Resources Ltd. is finalising the Engo Valley Uranium project drill targets after the two radon cup surveys.
The Engo Valley Uranium Project is on the Skeleton Coast, Opuwo District, in the Kunene Region.
The 69,530-ha EPL-5887 covers the project and is valid until February 12, 2026.
Uranium mineralization was discovered in 1973, and General Mining Union Corporation Limited conducted exploration intermittently between 1974 and 1980.
Snow Lake has agreed to acquire up to 85% of Namibia Minerals and Investment Holdings, the sole owner of EPL 5887.
Part of the agreement entails that Snow Lake invest US$200,000 in exploration on or before July 14, 2024, to earn 68% interest.
The company deployed exploration field crews to the site in May 2024 to undertake the topographical and radon cup surveys.
After the initial phase of the radon cup survey, a second in-fill radon cup survey was deployed, focusing on identified uranium anomalies.
The two drilling phases are designed to test the various exploration targets’ validity and produce an initial SK-1300-compliant mineral resource estimate.
With results from both phases of the radon cup survey, Snow Lake is finalising the drill targets.
Snow Lake Resources has also analysed all airborne survey data previously flown by the Namibian government over the project area, together with all other historical exploration reports and data on the project area on file with the mine ministry.
The company has also completed the topographical survey of the project site and
locating all historic drill collars from Gencor’s 1970 drilling campaign.
The following stages will conduct an initial 1,000-meter reverse circulation drill program to twin the historical drill holes and begin an in-fill grid pattern between the historical drill holes and downhole radiometric on each new drill hole.
Snow Lake will acquire an additional 17% undivided interest by incurring additional exploration expenditures of a minimum of USD$800,000 on the project within 12 months of acquiring the first-stage interest.
The company’s CEO, Frank Wheatley, said they are looking forward to starting the initial phase of drilling at this highly prospective uranium project.
