HomeEnergy MineralsAustralian company seeks uranium in Botswana

Australian company seeks uranium in Botswana

An impact crusher
at work in Australia
Perth, Australia — MININGREVIEW.COM — 17 April 2008 – Impact Minerals Limited – Australian listed uranium, gold and nickel exploration company – has secured its first overseas expansion in the uranium sector with the granting of a significant exploration licence footprint covering 20 000 sq km in eastern Botswana.

A news release issued here also reveals that the Australian explorer has announced that it is already in discussion with other parties with a view to joint uranium exploration in Botswana.

Impact managing director Mike Jones says preliminary interpretation of available airborne radiometric data over the company’s Botswana licence areas has indicated that there are a large number of radiometric anomalies requiring immediate follow up. “As a result, ground prospecting activities and field work are expected to commence in May under a modest statutory expenditure required in the first year,” he added.

The new licences will allow Impact to explore specifically for deposits of uranium in an area of Botswana which is adjacent to known near-surface deposits of uranium mineralisation.

The Botswana licences cover about 350 km of the strike extensions of rocks that host deposits and prospects near the town of Serule. They include licences adjacent to the Mokobaesi deposit, reported by ACAP Resources Limited to contain about 30 million lbs of U3O8, and the Foley prospect – a recent discovery reported by African Energy Limited.

Although extensive, the licences have a modest statutory expenditure of about US$210 000 in the first year, at the end of which a statutory 50% reduction of the licences is required.