Projects

In 2005, Bannerman was granted the titles for uranium mineral licences in the area around Goanikontes, which was identified as prospective.

Bannerman’s principal and most significant asset is the Etango Anomaly, a prospect located in the uranium-rich Erongo region on the western coast of Namibia and situated on a trend southwest of the Rössing Mine (Rio Tinto – 69 per cent). The Rössing mine is the longest running and second largest uranium mine in the world. The geology and potential bulk tonnage deposit of the Etango Project is similar in style to the Rössing Mine.

Bannerman undertook a process of capturing and digitising the historical drill hole and mapping data for the area. The main focus for local-scale exploration is to define possible depth and strike extensions of the Anomaly A deposit and to determine the continuity of mineralisation south to the nose region of the Etango dome.

In August 2006, environmental clearance was obtained from the relevant departmental officials, allowing for the start of all exploration activities and diamond core drilling of the Etango Project in September.
A definitive feasibility study is planned for completion in 2010.

Resource drilling has largely been completed; however, considerable scope remains to further expand the resource at depth and along strike to the north and south where mineralisation has yet to be closed off.

The Anomaly A resource is proving to be an exceptional project, providing the scale required to become a tier-one global uranium producer, with the potential to sustain production for a considerable period of time.

An expanded exploration program is underway on 15 other identified targets on the Welwitschia property.

Bannerman is also conducting exploration programs at Swakop River and in Botswana.

Swakop River has an exclusive prospecting licence, which surrounds Paladin Resources’ Langer-Heinrich uranium mine. The exploration drilling program at Swakop River is targeting uranium mineralisation associated with systems similar to the host for the Langer-Heinrich deposit in the adjacent channel to the south.

Bannerman controls three prospecting licences for uranium, precious metals, base metals and platinum group minerals in Botswana.