Swakop River

The Swakop River Project area is located in the Erongo region of central coastal Namibia, approximately 67 kilometres east of the town of Swakopmund. The Swakop River mineral licence, EPL 3346, surrounds Paladin Energy Limited’s Langer-Heinrich uranium mine on three sides. The Langer-Heinrich licence area contains an extensive palaeochannel with carnotite mineralisation in calcrete and channel sediments. Limited exploration drilling has been completed within the Swakop River Project area. 

Drilling on EPL 3346 first commenced in September 2006, with the target being uranium mineralisation associated with gravel beds within palaeodrainage systems at the Elspe prospect. The gravel beds targeted within the palaeodrainage system are similar to the host units for the Langer-Heinrich deposit in the adjacent channel to the south. This initial drilling was completed in December 2006, but was suspended due to drilling difficulties and a decision to focus the Company’s efforts on the Etango Project.

In 2008, two ground radiometric surveys were completed within EPL 3346. These surveys highlighted new areas of potential at Bloedkoppie and a further area to the east. 

During the year ended 30 June 2009, approximately 900 metres of reconnaissance exploration drilling was completed in the Bloedkoppie palaeochannel. The palaeochannel was shallower than indicated by an electromagnetic survey and preliminary results indicate that the calcretes in this particular area are poorly mineralised. Further surface geophysical work is scheduled to enable delineation of exploration targets.