Source: New Era
Preliminary findings from exploration conducted in the Erongo region indicate the presence of a massive new uranium deposit. The findings by a wholly-owned Namibian company, Livelife Investments, were reported by managing director Mulife Siyambango via a media statement.
He emphasized that the current preliminary findings will be made available to the mines and energy ministry during the first quarter of 2024, as part of Livelife’s annual report.
“The company is very excited that without external funding, it has reached such a milestone with minimum local financial resources. The massive secondary uranium deposit is a blessing for Namibia. The actual reserve estimation will only be confirmed after the drilling campaign is completed in mid-2024,” Siyambango stated.
The promising findings emanate from the interpretation of airborne radiometric data, using the Aster satellite VNIR/SWIR imagery samples.
“The nuclear fuel EPL 6959 was recently granted a two-year renewal extension by the minister of mines and energy for another exploration period up to October 2025. The grant came after the Environmental Commissioner approved a three-year Environmental Clearance Certificate (ECC) on EPL 6959 to make way for massive drilling activities during the first quarter of 2024,” Siyambango said.
The uranium deposit findings are confined in paleo valleys and drainages containing sediments with aeolian, colluvial, alluvial, lacustrine, and evaporitic components in the exploration license area.
Siyambango said Livelife Investments’ approach to nuclear fuels exploration is modern, systematic, and cost-effective.
“The company’s chairman, Stanley Israel Cornelius, and the technical director, Joshua Kalumbu, are still to direct the company on the way forward and when to call for companies to tender for drilling over EPL 6959 during early 2024.
Preference will be given to Namibian companies. Over the year, we have learned that local companies have been given low preference in the mining industry procurement participation,” he continued.
ABOUT THE AUTHOR: Staff reporter, New Era
