- Kopore Metals (KMT) completes its 100 per cent acquisition of the Agadez project in the highly prospective Tim Mersoi Basin, Niger
- The acquisition comes after the company signed a binding share sale agreement with Endeavour Finance
- Currently, the company is in the process of updating the mineral resource estimate (MRE) to comply with JORC 2012 guidelines
- Drilling and soil sampling is to commence immediately, with an exploration program planned which includes detailed geological and structural mapping, an airborne EM survey, diamond hole drilling and an extensive mud rotary drilling program
- Kopore Metals shares hold steady at 3.9 cents as of 10:04 am AEST
Kopore Metals (KMT) has completed its 100 per cent acquisition of the Agadez Project in the highly prospective Tim Mersoi Basin, a mining jurisdiction considered one of the world’s major uranium producing areas in Niger.
The acquisition followed after the company had signed a binding share sale agreement with Endeavour Finance to acquire the project.
Currently, the company is in the process of updating the mineral resource estimate (MRE) to comply with JORC 2012 guidelines. Historical exploration was completed by NGM Resources.
The company had recently confirmed the wider project as prospective for uranium following a review of an unannounced Paladin Energy drill program in 2011.
Best grade intersections from this drill program included two metres at 1740 parts per million (ppm) radiometric triuranium octoxide equivalent (eU3O8) from 229.5 metres in hole TOU016 and a metre at 1700 ppm radiometric equivalent eU3O8 from 148.7 metres in hole TER008.
Drilling and soil sampling is to commence immediately, with an exploration program planned which includes detailed geological and structural mapping, an airborne EM survey, diamond hole drilling and an extensive mud rotary drilling program.
Kopore Metals shares held steady at 3.9 cents as of 10:04 am AEST.