HomeEnergy MineralsTEAL wins new uranium licences in Mozambique

TEAL wins new uranium licences in Mozambique

Rick Menell,
President & CEO,
Toronto, Canada — MININGREVIEW.COM — 18 April 2008 – Listed on the Toronto and Johannesburg Stock Exchanges, TEAL Exploration and Mining Incorporated – a growth-oriented mineral development and exploration company building a solid track record in southern and central Africa – has been granted six uranium exploration licences in Mozambique.
A update released here last night says recent airborne geophysical surveys acquired by TEAL allowed for the identification of a number of exciting targets. These include targets for various styles of uranium mineralisation, which are now held under exclusive exploration and reconnaissance licences totalling some 1,297km2.

Mozambique has become a favoured destination for mineral exploration and development projects due to the country’s prospective geology, limited historical exploration and a stable investment climate.

The update continues: “The recognition that the country’s regional geology includes terrains that are known to host significant mineral deposits in surrounding countries such as Zambia, Zimbabwe and Tanzania, suggests that exploration potential within Mozambique is high.”

TEAL commissioned a geological review of uranium exploration potential of southern Africa in 2007. The results of this study have identified certain terrains in Mozambique that possess considerable potential for uranium mineralisation.

An airborne geophysical survey that was recently completed for the Government of Mozambique, and which covered large areas of the country, has also been acquired by TEAL. Geophysical processing and geological interpretation identified a number of highly anomalous uranium targets. These include targets for various styles of uranium mineralisation.

“Additionally,” the update continues, “TEAL has been awarded various reconnaissance licences totalling 1,136km2 in the Tete Province. These units are recognised as having good potential to host uranium deposits as known in other similar settings throughout the world.”
TEAL intends to commence field reconnaissance of the exclusive exploration licences within the next two months, and to initiate remote sensing studies of the reconnaissance licences. It has also established a new company, TEAL Mining Moçambique, Limitada, to operate its exploration activities in the country.