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 and Somair uranium mines, Global Atomic Corporation’s (TSE:GLO) Dasa Project and the significant Imouraren and Madouala deposits.
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 U3O8 for 21.5 million pounds (at 175ppm cut-off).(1)
Assay results from rock chip sampling program at Agadez show 74 of 83 (89%) samples collected returning values over 500ppm eU3O8.(2)
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).(2)
Tenements were previously owned by Paladin Energy Ltd.(3)
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(4) 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 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
Acquired Historic Data Shows Significant Potential
- The Company reviewed 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
- Madouala deposit 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.
