The Emmanuel project is only 1 of 7 projects ura is looking to acquire in Zambia. From the initial announcement it appears that the other sites have ore of 48-60%, which is even higher than the current area. Anyone know what the plan forward for these other projects are?
Uran has entered into a Heads of Agreement with a private South African company, African Asian Mining Development Limited, whereby it has an option to earn a 51% interest in a number of manganese projects in Zambia. Uran?s participation in the Joint Venture is subject to completion of due diligence within 3 months, which will include field mapping, geophysical surveys and drilling as announced on 29 December 2010.
Exploration is likely to commence within the next week. The properties include 5 large-scale prospecting licences (?LPLs?) in the Kabwe, Mansa and Serenje areas, and 2 small scale mining licences (?SPPs?) in the Mansa area. Mining of manganese has been carried out in 2010 on one of the SPPs and has exposed a number of manganese reefs at or close to surface.
Substantial manganese mining is being carried out adjacent to, and extending right to the boundary of the other SPP by UK-based Genesis Procurement company. Genesis is reported to have stated that it is currently producing about 48,000 tonnes of manganese ore from its 3 mines in Zambia, with ore grading between 45 ? 63% MnO2. AAM project AAM Option to acquire Current mining by others Manganese occurs in a number of areas within Zambia, generally as subvertical veins or in lowangle faulting, some of which can be traced for several kilometres.
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