Agadez Uranium Project
Tim Mersoi Basin, Niger
Underexplored Project in World Class Uranium Basin
- ENRG recently acquired the Agadez Uranium Project located in the highly prospective Tim Mersoï Basin, Niger, a mining jurisdiction with a long history of uranium production.
- 100% of 3 exploration permits (726km2) and an exploration licence application.
- The Project hosts similar geology to Orano SA’s Cominak/Somair and Imouraren mines and deposits held by Global Atomic Corporation (TSE:GLO) and GoviEx Uranium (CVE:GXU).
- Agadez Project Mineral Resource Estimate (MRE) updated to JORC 2012 standard, with the Takardeit deposit now holding an Inferred Resource of 16.5Mt at a grade of 295ppm eU3O8 for 10.7Mlbs (at 150ppm cut-off).
- Exploration Program commenced in June 2022, aiming to confirm and extend uranium mineralisation previously delineated within Jurassic formations (Tchirezrine I and Mousseden) in the Takardeit prospect.
- >24,000m of Percussion, Mud Rotary and Diamond drilling already completed on tenement package.
- Recently acquired and reviewed historical exploration information further supports tenement prospectivity and confirms mineralization across the Agadez Project.
- >17% U3O8 highest assay recorded from samples of sandstone outcrops at Takardeit.
- Tenements were previously acquired by Paladin Energy Ltd for AU$27M when uranium prices were ~US$45/lb2.
- Niger has one of the world’s largest uranium reserves and is the fourth-highest uranium producer globally.
- Strong Niger government and community support for new foreign investment.
Map of Kopore’s tenements and location in the Tim Mersoi Basin
(1) See Company announcement “Kopore to acquire Niger uranium project in uranium-rich Tim Mersoi Basin” on 9 December 2021.
(2) At the time of Paladin’s acquisition of NGM, NGM also held metal exploration tenements in Madagascar. The original uranium tenements covered an area of ~1,500km2. In 2013, Paladin Energy relinquished 50% of the uranium tenements. The areas retained by Paladin reflect the Permits proposed to be acquired by KMT. In 2016, Paladin relinquished all title in the permits and has no on-going interest in the Agadez Project.
(3) World Nuclear Organisation, September 2021;
Exploration Program Underway at Agadez
Recently Acquired Data Shows Significant Potential
- Exploration program to commenced in June 2022 at the Agadez Uranium Project, which aims to confirm and extend uranium mineralisation previously delineated within Jurassic formations (Tchirezrine I and Mousseden) in the Takardeit prospect (NGM’s historical resource area).
- The exploration program consists of both a drilling campaign as well as logging and surface sampling, with drilling to commence in June 2022 for a total of 5,500m, for approximately 5,340m of rotary mud drilling and 160m of diamond core.
- The Company expects the drill program to be completed in August 2022, with downhole gamma and assay results to follow.
“We are delighted to have commenced exploration program at the Agadez Project shortly after completing the acquisition. With a total of 5,500 metres of drilling planned to commence in June, and ENRG having recently confirmed the Project as prospective for uranium, it is an exciting time for shareholders as we continue to build value.”
2011 Paladin Exploration Data
Recently Acquired Data Shows Significant Potential
- The Company reviewed recently acquired previously unannounced historical drilling information for Agadez from Paladin and confirmed the project as prospective for uranium.2
- The information includes geological and geophysical information, surveys, photographs, in addition to drill logs and assay results from Paladin’s 2011 drilling program.
- Of this extensive program, 31 drill holes covering 6,595m are on the leases currently controlled by ENRG.
- Significant intervals from Paladin’s drill program outside of the Takardeit resource area include:
- TOU016: 2m @ 0.17% (1,735 ppm) eU3O8 from 229.5m
- TER010: 2m @ 0.14% (1,384 ppm) eU3O8 from 48.5m
- TER008: 1m @ 0.17% (1,697 ppm) eU3O8 from 148.7m
- Substantial number of follow-up targets identified for future exploration programs
ASX Announcement – 7 April 2022 – Review of Historical Data Confirms Prospectivity of Agadez Uranium Project
“The Results and significant intersections have confirmed Agadez as prospective for uranium and have significantly improved our geological understanding of the Project. Importantly, with potential for higher grade areas of mineralisation within the Takardeit Inferred Mineral Resource, ENRG has used this data to define and guide the exploration program which is currently underway.”
Geological map of the Permits showing the NGM and Paladin drill hole locations and main prospects
- Paladin’s drill program targeted regional identification of high-grade uranium mineralization in the Lower Carboniferous stratigraphy as well as in shallow Jurassic sediments similar to those hosting the Takardeit resource.
- ENRG’s technical consultants identified and confirmed mineralisation potential:
- Across the tenement package; and
- For higher-grade areas within the existing Takardeit Mineral Resource (JORC (2004))(1), with mineralisation from surface to 30m.
- Economic deposits occurring along WNW and N–S trending structures are Orano’s, CNUC’s and Global Atomic’s deposits
- GoviEx’s occurs along the NW trending (N30) structure
- Several of the major structures intersect the Agadez Project.
- Information analysed from Paladin’s exploration program will be used to inform ENRG’s future work targeting Jurassic and Carboniferous stratigraphy.
Stratigraphic column over the Kopore Metals Exploration licences area and stratigraphic location of the main deposits.
Idealized geological SW-NE section across Takardeit deposit area.