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Pioneer Lithium Ltd (ASX:PLN) has verified significant uranium mineralisation at the Warmbad project in Namibia, which is situated within the country’s southern uranium corridor, through newly locked-in exploration data.
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The dataset – taken from the Namibian Ministry of Mines and Energy – confirms the project to have extensive, thick zones of uranium mineralisation.
Crucially, the mineralisation is consistent with the alaskite-hosted system present at the globally significant Namibia’s Rossing mine.
Intercepts and cumulative grade thicknesses – as evident in the dataset – include 72 metres at 140.1 parts per million triuranium octoxide for 1% U3O8 GT; 77 metres at 127.4 ppm U3O8 for 1% U3O8GT; 79 metres at 126.9 ppm U3O8 for 1% U3O8 GT; and 49 metres at 154.7 ppm U3O8 for 0.76% U3O8 GT.
The dataset is based on drilling by Xemplar Energy Corp between 2007 and 2009, including 161 reverse circulation holes and 11 diamond drill holes for a total of 31,685 metres.
From this, three zones of importance were identified: Areas One, Three, and Five, with each showing strong continuity of uranium mineralisation within alaskitic granites and the opportunity for expansion.
“Warmbad gives Pioneer an immediate presence in a globally respected uranium jurisdiction with scale, geology, and infrastructure,” CEO Michael Bevan said.
Pioneer now aims to capitalise through the use of this dataset to build its own resource definition program across what appears to be an impressive uranium system.
“This is a project that comes with over 30,000 metres of drilling already completed, with consistent mineralisation across multiple zones and strong indications of system size,” Mr Bevan explained today.
“It’s rare to gain access to a project of this calibre at such an advanced stage.”
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Mr Bevan added: “With nuclear energy reasserting itself as a cornerstone of global energy policy, we are confident that Warmbad will become a flagship asset for Pioneer and a key contributor to our growth strategy.”
PLN last traded at 11.5 cents today after a 4.17% fall in value.
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