Puranium Energy is among Namibia’s most prominent and well-positioned landholders, surrounding world-class uranium mines and deposits.
Its land portfolio comprises five exploration properties totalling 81,955 ha that are highly prospective for uranium mineralisation.
The five EPLs are 7381, 7394, 7646, 7996 and 8084 in the Erongo Province. Puranium owns 85% of the EPLs, while Namibian partners hold the other 15%.
EPLs 8084 and 7646 are 110.96 km from Usakos and cover an area of 19,989.5 and 19,994.2 hectares, respectively.
The EPLs cover the Ruimte and Namib Park I uranium anomalies discovered in the 1970s. These two EPLs are located 15km from the Langer Heinrich Mine.
The former operator drilled 39 holes in 2019, delineating 381 tons of U3O8 with positive outlook for additional resources.
The historical drilling in the northeastern section of EPL 8084 indicates a prospective 2km long uranium anomaly within Tinka’s paleochannel.
EPLs 7381 and 7394 are about 40km northeast of Henties Bay. Collectively, the EPLs have an area of 34,785 ha.
Historical geophysical work has outlined the course of an old river channel, the Marenica channel, which is incised into the bedrock.
The licences cover the downstream catchment of the Marenica channel that hosts the Marenica and MA7 deposits, with the paleochannel extending onto EPL-7381 for at least 6km.
The last activity Puranium Energy reported was in March 2023, when it announced the results from a property-wide remote sensing and spectral processing survey completed by Perry Remote Sensing LLC on EPL 7646 and 8084.
The remote sensing interpretation identified two paleochannel systems cut into the basement of EPL-7646 in predominantly undercover areas.
The paleochannel in the northern region of the EPL extends over 10km, while the one in the south extends over 5km.
The paleochannel systems coincide with historical targets and new targets generated through mineral maps.
The remote sensing program included the processing, analysis and interpretation of ASTER and Landsat Satellite data over the property and over areas surrounding the property with known occurrences of similar mineralisation, including the Langer Heinrich and Koppies deposits.
The remote sensing survey covered 2,383 km2, encompassing the above properties and other known uranium deposits.
Puranium Energy CEO Jason Bagg said at the time that the company would be looking to validate the remote sensing results on the ground and believed the properties present an exciting exploration opportunity, supported by the presence of appropriate source rocks upstream, significant deposits within the same drainage basin and downstream of the property, mineral mapping targets coinciding with airborne radiometric anomalies and the identified targets within the property sharing similar characteristics as deposits of the same target mineralisation style.
EPL-8084 is characterised by outcrops of granitic basement and Swakop group units with incised gorges, some of which are covered by calcrete terraces.
Mineral maps in the western area of the EPL indicate the potential for a 2.5km long mineralised paleochannel coinciding with a strong airborne radiometric signature.
Puranium Energy secured close to N$20 million in February to advance its uranium prospecting efforts in Namibia, as activity in the sector peaked and the global price of uranium reached US$106 per pound last week.
Bagg said the funds were secured in a private placement involving the issuance of 9 318 750 units generating US$745 500 (N$13,9 million) in proceeds.
Puranium Energy announced in September 2024 that it had paid an aggregate of US$31,811 of indebtedness to arm’s length creditors of the company by issuing 547,652 common shares for $0.05.
