Puranium Energy Completes Remote Sensing Program on Its Uranium Project in Namibia
Puranium Energy Completes Remote Sensing
Program on Its Uranium Project in Namibia
Interpretation Confirms Two Paleochannel Systems on EPL-
7646
Toronto, Ontario--(Newsfile Corp. - March 13, 2023) -
Puranium Energy Ltd.
(
CSE: UX
) (
FSE: 2DK
)
(the "
Company
" or "
Puranium
") is pleased to announce the results from a property-wide remote
sensing and spectral processing survey completed by Perry Remote Sensing LLC on its Exclusive
Prospecting Licenses ("EPL") 7646 and 8084 (the "Property") located in the Erongo Uranium Province
of Namibia.
Remote sensing interpretation identified two paleochannel systems cut into the basement of EPL-7646
in areas that are predominantly under cover. The paleochannel in the northern area of the EPL extends
over 10km while the one in the south extends over 5km. The paleochannel systems coincide with both
historical targets and new targets generated through mineral maps.
Remote Sensing Program
The remote sensing program included the processing, analysis and interpretation of ASTER and
Landsat Satellite data over the Property and over areas surrounding the Property with known
occurrences of similar mineralization including the Langer Heinrich and Koppies deposits (See Figure
1).
Figure 1: Location of EPL-7646 and EPL-8084 showing uranium deposits
and paleochannels
within the same basin
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The remote sensing survey covered an area of 2,383 km
2
encompassing the above properties as well
as other known uranium deposits in the vicinity (See Figure 2). By using the pre-mining remote sensing
data, the Langer Heinrich deposit (Paladin Energy) could be used as a model
site of known similar
mineralization characteristics. The approach has been successful in identifying strong spectral matches
for mineralized calcretes at the Koppies deposit which is approximately 34km southwest of the Property.
Overall, the compilation of mineral models, paleochannel interpretation, perched water table
documentation during dry and wet seasons, as well as
structures generated
thirty (30) targets on the
Property. Using the regional airborne radiometric data, eleven (11) of these targets have been prioritized
for further investigation (See Figure 2).
Figure 2: Interpretation of satellite data and priority targets (labelled A - K)
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"The remote sensing techniques used to map structures and to model mineralized calcretes, subsurface
paleochannels, ground water flow directions and sites of intense evaporation have been a cost and time-
effective means of narrowing down search areas by highlighting targets that have the potential to form
calcrete-hosted uranium deposits,"
comments President and CEO Jason Bagg
. "Puranium will be
looking to validate the remote sensing results on the ground
and believes the properties present an
exciting exploration opportunity, supported by the presence of appropriate source rocks upstream,
significant deposits within the same drainage basin and downstream of the property, mineral mapping
targets coinciding with airborne radiometric anomalies, and the identified targets within the property
sharing similar characteristics as deposits of the same target mineralization style."
EPLs – 7646 and -8084
EPLs-7646 and -8084 (See Figure 2) are located in the Erongo region, within the contemporary
ephemeral drainage basins south of the Swakop River. Paleochannels within these basins are
associated with five of the larger surficial or calcrete-hosted uranium deposits of the region – Langer
Heinrich, Tumas, Tubas, Aussinanis and Koppies.
The paleochannels tend to be buried with little or no
obvious surface expression to identify them. Calcrete-hosted uranium deposits form when uranium is
leached by groundwater from uranium-rich granites and is transported in groundwater through
permeable sediments in paleovalleys. In arid areas, intense evaporation can cause changes in the
chemical composition of the water and result in the precipitation of the uranium bearing mineral
carnotite.
EPL-8084 is characterized by outcrops of granitic basement and Swakop group units with incised
gorges some of which are covered by calcrete terraces. Mineral maps in the western area of the EPL
indicate the potential for a 2.5km long mineralized paleochannel coinciding with a strong airborne
radiometric signature.
Qualified Person
Mary Barton, a Professional Natural Scientist (SACNASP) and a Qualified Person for the purposes of
National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, verified and
approved the technical information contained in this news release.
On behalf of the Board,
Jason Bagg
President & CEO, Director
About Puranium Energy Ltd.
Puranium Energy is focused on the uranium exploration of its 85% interest in seven EPLs (the "Estate
Uranium Properties") totaling 93,514 hectares in the Erongo Province of Namibia, which accounts for
approximately 8% of the world's uranium production.
For more information, please contact investor relations at
.
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or
accepted responsibility for the adequacy or accuracy of this press release.
This press release may include forward-looking information within the meaning of Canadian securities
legislation, concerning the business of the Company.
Forward-looking information is based on certain
key expectations and assumptions made by the management of the Company.
Although the
Company believes that the expectations and assumptions on which such forward-looking information
is based on are reasonable, undue reliance should not be placed on the forward-looking information
because the Company can give no assurance that they will prove to be correct.
Forward-looking
statements contained in this press release are made as of the date of this press release.
The
Company disclaims any intent or obligation to update publicly any forward-looking information,
whether as a result of new information, future events or results or otherwise, other than as required by
applicable securities laws.
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