Wouldn't it be nice to see 5 drilling rigs turning around Mumbwa.....
Namibia: More Uranium Discovered
A Canadian uranium company, Xemplar Energy Corporation, says it has found new uranium deposits in southern Namibia near Warmbad, where it holds an exploration licence in an area of approximately 470 000 hectares.
The company intends to have five drilling rigs operational in the Warmbad area by the first quarter of 2008. Xemplar listed on the Namibian Stock Exchange (NSX) last month, the first uranium company to have done that. It also established a trust fund to benefit the Warmbad village community and paid N$2 million (about U$300 000) into the fund recently.
"Xemplar believes it has effectively discovered a new uranium deposit in the Warmbad area and sampling from over 200 sites shown clear evidence of visual surface uranium mineralisation," the company said in a statement at the end of last week. "Samples from these holes are being prepared for shipment to laboratories in Johannesburg, South Africa.
Two drill rigs are used on the Warmbad uranium project, a third one is shipped from Canada to southern Namibia to arrive at the end of this month. A fourth rig has been ordered and is expected early next year. The company intends to have five drilling rigs operational in the Warmbad area by the first quarter of 2008. This facility contains two borehole test sites of known uranium and thorium content. On completion of these ten holes the drilling rigs will be moved to the Homs River area, where traces of further uranium deposits were found. Warmbad, with its unique architecture of German colonial buildings, hot springs and the scenic landscape along the Homs River, is actually earmarked for tourism development, supported by the German government.
It is not clear how uranium mining will affect the fledgling tourism sector at Warmbad, which is situated on the Homs River. Xemplar has further uranium claims near Aus, close to Henties Bay, Mile 72 and at Engo Valley in the Kaokoveld, the last wilderness of Namibia and a prime tourism destination. Xemplar acquired these claims when it bought up Namura Mineral Resources earlier this year for about US$6 million (about (N$49 million).
The licence for Cape Cross covers about 385 500 ha and the one for the Engo Valley uranium deposit about 123 900 ha.
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