As evidenced below, the deposit is in the center of Namibia’s prime Uranium province and particularly lies between two of Namibia’s biggest Uranium mines namely Rossing and Husab deposits (Swakop Uranium) that are both globally ranked among the top 5 biggest Uranium mines.
Both the cover picture and image of the mapped surface Alaskites below show the location of the license area and the extensive Uranium-hosting Alaskite leucogranites throughout the license.
Drilling results (about 90 drill holes and assays analysed at world-renowned Uranium laboratories at Actlabs (Canada); SGS and Buro Veritas (South Africa & Namibia respectively) indicate Uraninite as the primary Ores (with Carnotite, Uranophane & other Uranium mineralization observable throughout the area) as found at Rossing and Swakop Uranium.
However, unlike with the two above, NNC shows no betafite and little or no Thorium occurrence as evidenced by the chemical analyses & supported by Radiometrics conducted by & freely-available at the Ministry of Mines & Energy- resulting in ease & low cost of processing.
Thus far exploration only covered about 60% of the observable Alaskites in the prospect; and the remainder of the deposit was fully-covered with spaced-out 300m (depth) drill holes that evidenced superior Uranium mineralization than found on the resource estimate 500m x 350m GRID. Results indicate Uranium values ranging from about 117 – 2347.721 ppm – with numerous horizons between the 20 – 100m range reporting values in excess of 600 ppm; 100 – 150 m in the 800 – 1100 ppm (highest reading of 2347ppm recorded in this range) and often beyond 200m values in excess of 800 ppm are typical.
The Uranium Oxide (U3O8) tonnage currently stands at 86,000 Tonnes. NB: that upon site visits, data reviews and resource modelling, a team of experienced geologists (in excess of 30 years’ experience per person) recognized that the resource estimate Grid wasn’t drilled in the most optimal location- missing areas that later showed even higher values and mineralization right through the drill holes to our maximum depth of 300m.
The remainder 40% acreage of mineralized Alaskites within the license area was also evaluated and show that we have an opportunity to increase the resource within the license area about 1.5 – 3 fold or more. In addition, combining our venture with 2 identified neighbouring deposits would most likely yield a >300,000 tonne Uranium mine - becoming the biggest Uranium mine & producer in Namibia, and possibly 2nd / 3rd largest Uranium mine in the world. Optimal production is estimated at 15 -18,000 tonnes / year; & combined with other local production targets e.g. (Swakop @15,000 t) such would place Namibia at +/- 40 -50,000 tonne per year- double Kazhakstan’s current production & making Namibia the largest producer in the world.
The image below shows a part of the extensive surface Alaskites in the Licence area as mapped during the prospecting phase by one of our PhD students in a collaboration with the Beijing University of Geosciences and CNNC’s Beijing Research Institute of Uranium Geology. Both his Professors conducted site visits, directed his work and reviewed our drilling results (see S.H. Shanyengana, at al. In Press. Mineralogy and petrology of uraniferous leucogranites of the Namibia Uranium Corporation deposit, Namibia) NB: NUC was formerly referred to as Rössing South-West deposit among the exploration team before the Name changed to NUC.