News & Media

• Horizontal loop electromagnetic surveys at Hirabeb (Namibia) identifies expansive and deep palaeochannels
• HLEM has been successful in identifying palaeochannels at Koppies with follow up drilling demonstrating significant mineralisation
• Hirabeb is Marenica’s largest tenement in the Namib area, 15 times larger than Koppies

Following the success of HLEM surveys at the Koppies prospect in identifying palaeochannels that drilling

has subsequently shown to be mineralised, Marenica trialled the technique on EPL 7278. Hirabeb, the largest

of Marenica’s tenements in the Namib Area, has extensive historical exploration mapping, and is located

upstream of the known Aussinanis deposit.

Historical documentation produced by General Mining Corporation (“Gencor”) indicates the presence of a

potentially significant palaeochannel system within the area covered by EPL 7278 (Figure 1). As a result of

this information, a number of HLEM survey lines were undertaken in order to investigate and confirm the

location of palaeochannels within the Hirabeb license.

To date, four lines have been completed with an additional line partially completed prior to the COVID-19

lockdown within Namibia. In all cases, HLEM has confirmed the presence of both calcrete valley fill and

deeper, incised, palaeochannels within the area. In general, the depth of the calcrete material is greater than

10 metres, with the identified palaeochannels reaching depths of greater than 30 metres in a number of places.

In comparison, palaeochannels with maximum depths of between 15 and 18 metres were recorded in the

Koppies palaeochannel system.

Marenica Managing Director, Murray Hill, commented: “The uncovering of historical exploration

information produced by Gencor has been instrumental in identifying key exploration targets, Koppies was an

exploration target identified by Gencor. We are excited about the Hirabeb HLEM results which confirm the

palaeochannels are at least the width indicated by Gencor, with potentially over half the tenement covered in

prospective palaeochannels, presenting the rare opportunity of having an abundance of exploration targets.

Much like Koppies, the Hirabeb exploration target is upstream of a known uranium deposit, increasing the

probability of finding uranium, and this tenement is 15 times larger than Koppies.”

The HLEM surveys indicate continuous calcrete valley fill varying from 2.0 km to 4.7 km wide, as evident

in Figure 1. The HLEM detail from Line 5, presented in Figure 4, shows three palaeochannels in excess

of 30 metres deep ranging in width from 450 to 620 metres. HLEM Line 5 is the partially complete survey

line, which has a further 6.3 km of HLEM planned to the north of this line.

Analysis of the HLEM sections has identified a number of prospective areas for follow-up reverse

circulation (RC) drilling. In the main, these areas are in locations where the HLEM identified

palaeochannel base has a depth of at least 20 metres and are concentrated around the locations where

the palaeochannel depth is greater than 30 metres.

With an area of 730 km2, Hirabeb extends 42 km east to west at its widest point, and 22 km north to

south, and is 15 times the area of the Koppies EPL. Gencor’s work indicates that approximately 44% of

the tenement area is covered by recent sediments. The Company’s HLEM surveys have confirmed the

presence of palaeochannels and provides an indication on depth and widths of palaeochannels. The

HLEM work suggests that at least 50% of the tenement area could be covered by calcrete and

palaeochannels.

The palaeochannels appear to flow in a south west direction towards the adjoining tenement which

contains the Aussinanis Uranium deposit. As per Koppies, Hirabeb is a highly prospective area that is

upstream of a known deposit and has previously been explored by Gencor who identified exploration

targets.