• Significant recent activity from foreign uranium explorers with nearby projects including Globe Uranium Limited and Paladin Energy Limited.
• Project area covers untested radiometric anomalies which are interpreted to offer hydrothermal uranium exploration targets over elevated basement complex.
• Exploring for uranium and other specified minerals including copper, gold, silver, niobium, rare earths, tantalum, scheelite and wolframite
• Substantially expands Oropa’s existing uranium portfolio, positioning the company as a significant uranium explorer.
Oropa Limited (ASX: ORP – “Oropa”) is pleased to announce that it has secured a significant addition to its uranium exploration portfolio in central Africa after being granted a third Exclusive Prospecting Licence (EPL) covering a total area of 1,283 square kilometres in the Chizani area of central Malawi, located near Globe Uranium Limited’s Kanyika Project, (“Globe’s”).
The grant of the EPL, to Oropa’s 100%-owned subsidiary, Oropa Exploration PL, was announced by the Minister of Energy, Mines and Natural Resources of the Republic of Malawi,
giving Oropa the right to explore for uranium and other specified minerals including copper, gold, silver, niobium, rare earths, tantalum, scheelite and wolframite within the Chizani Project Area.
The addition of Chizani to the Company’s existing portfolio of 100%-owned exploration projects (Mzimba Northwest and Chitunde) increases its total ground position to over 3,600 square kilometres.
In November last year, Oropa entered into Memorandum of Understandings to acquire a 90% interest in two contiguous EPLs, Ngana and Ngana East,
located just 20km north of Paladin Energy Ltd’s (“Paladin’s”) Kayelekera Uranium deposit in northern Malawi.
The Ngana EPLs represent a significant strategic addition to its uranium exploration portfolio.
The proximity of the Chizani EPL to the nearby Kanyika Project, owned by Globe, provides Oropa with a nearby uranium-niobium-tantalum deposit model to apply to exploration search parameters within the Chizani area.
Globe currently has intensive resource definition drilling programs underway at Kanyika,with assay results awaited.
Collectively, Oropa’s tenement portfolio in Malawi offers uranium exploration potential for a number of uranium deposit types in specific geological environments including: roll-front, unconformity and hydrothermal styles of uranium mineralisation.
ORP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
