PROJECTS
Agadez Uranium Project
Tim Mersoi Basin, Niger
An Underexplored Project in a World Class Uranium Basin
Overview
ENRG Elements Agadez Uranium Project is located in the highly prospective Tim Mersoi Basin, Niger, a mining jurisdiction with a long history of uranium production.
100% of three 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 Uranium Project Mineral Resource Estimate (MRE) updated to JORC 2012 standard, with the Takardeit deposit now containing an Inferred Resource of 31.1Mt at a grade of 315ppm eU3O8 for 21.5 million pounds (at 175ppm cut-off).
Assay results from rock chip sampling program at Agadez show 74 of 83 (89%) samples collected returning values over 500ppm eU3O8.
Rock chip assay results are outstanding, including a highest 34.3% (343,008ppm) eU3O8 (343,008ppm) and 26.1% (261,066 ppm) eU3O8 (261,066 ppm).
Takardeit Mineral Resource Estimate expected to be updated following receipt of assay results, anticipated in Q4 CY2022.
Tenements were previously acquired by Paladin Energy Ltd for AU$27M when uranium prices were ~US$45/lb(1).
ENRG acquired and reviewed historical exploration information further supports tenement prospectivity and confirms mineralization across the Agadez Uranium Project.
Niger has one of the world’s largest uranium reserves(2) and is one of the highest producers of uranium globally.
Strong Niger government and community support for new foreign investment.
Map of ENRG Elements tenements and location in the Tim Mersoi Basin
Exploration Program Underway at Agadez
Assay Results Confirm Significant Potential
- Exploration program recently completed at Agadez comprising approximately 5,340m of rotary mud drilling and 160m of diamond core, in conjunction with a surface sampling program.
- The ~5,500m drilling program confirmed mineralisation from surface to ~40m depth and extending beyond the current Mineral Resource Estimate area.
- Mineralisation remains open in multiple directions.
- Significant downhole gamma results at Takardeit Centre, includes(3):
- KPM0048 –2m at 2,266ppm eU3O8 from 22.7m; and
- KPM0030 –2m at 1,562ppm eU3O8 from 28.2m; and
- KPM0018 -2m at 1,172ppm eU3O8 from 24.7m.
“We are very excited to announce this Mineral Resource Estimate upgrade to a total of 21.5 Mlb U3O8, which includes an increase in grade of 6.8%, and an increase in contained metal of 101%. This Resource update demonstrates the exciting potential of the Agadez Project and with a drilling program planned to commence in the coming months, we look forward to further building on this Mineral Resource Estimate at Takardeit and to identify other priority regional exploration targets within our tenement package.”
Caroline Keats
Managing Director
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.(4)
- 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
“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.”
Caroline Keats
Managing Director
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 deposit.
- 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))(5), 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 Uranium 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 ENRG Elements exploration licences area and stratigraphic location of the main deposits.
Idealized geological SW-NE section across Takardeit deposit area.
Ghanzi West Copper Project
Kalahari Copper Belt, Botsawana
Underexplored emerging world-class copper province in the Kalahari Copper Belt
Overview
The Ghanzi-West Project is located in the Kalahari Copper Belt of Botswana, along strike from Sandfire Resources Limited’s (ASX:SFR) Motheo and A4 copper-silver projects, and in the same region as Cobre Limited’s (ASX:CBE) recent Ngami Copper Project discovery.
Airborne electromagnetic and gravity survey has commenced across the Kara Dome assets.
Comprises six prospecting licences over a land area of 2,630km2.
Three key targets have been identified at Ghanzi-West being:
- Kara–along regional structure from T3 deposit (~840km2)
- Korong–large Domal target (~1,091km2)
- Tau–4km from Sandfire T7 prospect.
Safe, politically stable and mining-friendly jurisdiction.
Botswana ranked 1st in Africa and 11th of 77 countries globally in overall mining investment attractiveness(1).
(1) Fraser Institute Annual Survey of Mining Companies 2020
Airborne Electromagnetic & Gravity
- Airborne electromagnetic and gravity survey being conducted across the Company’s Kara Dome assets, located in the Kalahari Copper Belt, Botswana.
- Survey aims to delineate structural domains in conductivity associated with domes, which are favourable for hosting significant economic mineralisation.
- Kara Dome is considered prospective for copper-silver mineralisation in folded transitional sediments, similar to those at Sandfire (Motheo and A4) and Khoemacau (Zone 5, Banana Zone) projects.
- The program is focused on identifying fold related anticline hinge zones and structurally controlled trap sites associated with domal structures, similar to those discovered along strike by Sandfire Resources (Motheo and A4 copper-silver projects).
- The program is expected to commence in early August, with results in Q4 CY2022.
Location of ENRG Elements prospecting licences within the Kalahari Copper Belt
Horseshoe West Gold-Copper Project
Western Australia
Joint-Venture with Horseshoe Metals in Western Australia
Overview
Earn-in and Joint-Venture with subsidiary of Horseshoe Metals Ltd (ASX:HOR) relating to 9 prospecting licenes, 1 exploration licence and part of a mining lease(1)
75km from Sandfire’s Degrussa Mine, located in the highly prospective and prolific (Cu-Au) Bryah Basin region in Western Australia
Tenements surround the historical high-grade copper-gold Horseshoe Lights Mine
Discovered in 1946, the mine produced ~56kt Cu (3.3Mt @ average of 1.7% Cu) and 307koz Au (average grade of 2.9g/t) up to 1994
Agreement relates to 32.4km2 of largely unexplored land surrounding the Horseshoe Lights Mine
Completed auger drilling program delineated a coherent copper-gold soil anomaly over identified airborne magnetic trends(2)
Horseshoe West Dipole-Dipole Induced Polarisation (DDIP) survey interpretation completed, with new targets identified from the processing and interpretation of the DDIP survey data(3)
(1) See Company announcement “Kopore Earns Into Horseshoe West Copper/Gold Exploration Project” on 28 January 2021.
(2) See Company announcement “Horseshoe West Soil Anomalies Identified and Botswana Licenses Renewed” on 15 November 2021.
(3) Refer to ASX Announcement “Horseshoe West Project Update” on 16 August 2022
Location of ENRG Elements prospecting licences at Horseshoe Lights in Western Australia
Virgo Copper Project
Kalahari Copper Belt, Botsawana
Overview
The Virgo Project, comprises two prospecting licences (PL 135/2017 & PL 162/2017)is located in an emerging copper district in the Kalahari Copper Belt covers an area of over 210km2. The Virgo licenses lie within close proximity of larger discoveries, and in particular within 10km and 50km of the Zone 5 and Banana Zone copper projects, respectively, which are known as the two largest copper projects on the Kalahari Copper Belt.
As announced on the ASX on 25 March 2021, ENRG Elements Ltd (formerly Kopore Metals Ltd) executed a binding term sheet with ARC Minerals Limited (AIM:ARCM) (ARC) to assist with ongoing exploration at the Company’s Virgo Project in the Republic of Botswana (Transaction)1.
Pursuant to the terms of the Transaction, the Company agreed to sell 75% of the issued capital in its wholly owned subsidiary company, Alvis-Crest (Proprietary) Limited (Alvis) to ARC.
On 26 July 2021, ENRG Elements Ltd announced that it had satisfied key conditions precedent to the Transaction by entering a binding shareholders agreement and royalty deed with ARC. Closing of the transaction proceeded following receipt of Ministerial approval in Botswana, resulting in ENRG Elements retaining a 25% interest in the Virgo Project.
(1) ASX Release: Virgo Project Transaction With Arc Minerals - 25 March 2021
Map of The Virgo Copper Project and location in the Kalahari Copper Belt, Botswana
