granted 2 exclusive uraniun licenses in malawi

ASX ANNOUNCEMENT
24 JULY 2007
Oropa Limited Granted Two Exclusive Prospecting Licences for
Uranium in Malawi
Company Announcements Office
Australian Stock Exchange Limited
4th Floor, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir / Madam,
OROPA LIMITED GRANTED TWO EXCLUSIVE
PROSPECTING LICENCES FOR URANIUM IN MALAWI
Please find the above letter attached.
Yours faithfully
OROPA LIMITED
Philip C Christie
Director
RECENT ASX
ANNOUNCEMENTS
15 June 2007
Change of Interests of Substantial
Shareholder 15 June 2007
30 May 2007
Change of Interests of Substantial
Shareholder 30 May 2007
17 May 2007
Appendix 3Y
CORPORATE
25 Charles Street
South Perth WA 6151
Ph: +61 8 9368 4544
Fax: +61 8 9368 4522
Email: [email protected]
Web: www.oropa.com.au
ABN: 77 009 241 374
BOARD OF DIRECTORS
Brian Hurley– Chairman
Philip Christie– Director
Rod Murchison– Non-Executive
Director
Bruce Tomich- Non-Executive
Director
ASX Code: ORP
25 Charles Street, South Perth WA 6151 PO Box 1013, South Perth WA 6951
Telephone: (08) 9368 4544 Facsimile: (08) 9368 4522
Web: www.oropa.com.au Email: [email protected]
ACN: 009 241 374
ASX ANNOUNCEMENT
24th JULY 2007
OROPA LIMITED GRANTED TWO EXCLUSIVE PROSPECTING LICENCES FOR URANIUM IN
MALAWI
Oropa Limited (“Oropa”) is pleased to announce that the Minister of Energy, Mines and Natural
Resources of the Republic of Malawi (“Malawi”) has granted its wholly owned subsidiary Oropa
Exploration Pty Ltd two Exclusive Prospecting Licences (“EPLs”) for uranium covering the Mzimba
Northwest and Chitunde Projects for a total of 2365 square kilometers.
HIGHLIGHTS
�� The Mzimba Northwest Project area (EPL0212/2007) in the north-central part of Malawi
covers untested radiometric anomalies which are interpreted to offer hydrothermal
uranium exploration targets over elevated basement complex and the possibility of
discovering concealed Karroo-hosted sediments prospective for roll-front style
uranium mineralisation within low-lying areas of residual cover.
�� EPL0211/2007 comprising the Chitunde Project area is situated in the west-central
portion of Malawi and covers a prominent circular airborne radiometric anomaly
measuring some 4 kilometers diameter coincident with a syenite intrusive complex and
is considered to have potential for hydrothermal uranium mineralisation.
EPLO212/2007 – Mzimba Northwest Project
Oropa’s granted Mzimba Northwest EPL0212/2007 is large by current standards and covers an area
of 2169 square kilometers and is situated in the north-central part of Malawi surrounding the
provincial centre of Mzimba and centred approximately 200 kilometres south southwest of the
Kayelekera deposit. EPL0212/2007 has been granted for a period of three years.
The project area is drained by the northerly flowing South Rukuru and Kasitu rivers and covers
diverse topography comprising from west to east: plains with a mean elevation of around 1220 m, a
belt of hills known as the Central Mzimba Hills with general elevations of 1370 m to 1500 m and parts
of the western escarpment of the Vipya Plateau with an average elevation of over 1600 m.
Throughout the project area, inselbergs such as Mt Hora at 1717 m form prominent relief above the
surrounding terrain.
The EPL covers structured metamorphic rocks and a distinctive belt of pegmatites belonging to the
Malawi Basement Complex of Precambrian to Lower Palaeozoic age. These basement rocks are
largely exposed in the southern and southeastern quadrant of the project area along with a small
basin of Karroo sandstones which is interpreted to represent part of a more extensive Karroo
25 Charles Street, South Perth WA 6151 PO Box 1013, South Perth WA 6951
Telephone: (08) 9368 4544 Facsimile: (08) 9368 4522
Web: www.oropa.com.au Email: [email protected]
ACN: 009 241 374
sediment cover which has been largely removed by erosion in elevated areas. Over an extensive
area covering the northwestern quadrant of the project area, low-lying ground is covered by
Quaternary soil and clay deposits which largely mask underlying bedrock. This area of cover offers
exploration potential for concealed Karroo sediment occurrence in fault bounded basins.
Structurally, the area is fractured by northwesterly and northerly trending faults which truncate an
easterly trending fault set. A significant number of the radiometric anomalies within the project area
lie close to some of the more prominent northerly trending fault zones within areas of basement and
radiometric anomalies identified over the western and northwestern plains area which require further
assessment to explain their presence. No records of any ground follow-up of the identified targets
have been found.
The Mzimba Northwest Project area is considered to offer uranium exploration potential for both
hydrothermal uranium targets over areas of exposed basement and the discovery of concealed
Karroo sediments within low-lying areas of residual cover are considered prospective for roll-front
style uranium mineralisation.
EPLO211/2007 - Chitunde Project
The Chitunde Project comprises EPL0211/2007 and covers 196 square kilometers. The EPL has
been granted for a three year period. The project area is situated in the west-central portion of
Malawi, some 86 kilometres west northwest of the capital Lilongwe.
The focus of exploration within the Chitunde Project area is a prominent circular airborne radiometric
anomaly measuring some 4 kilometres in diameter coincident with a syenite intrusive complex which
forms a conspicuous hill mass with relief up to 150 m above surrounding soil covered plains. The
Chitunde complex intrudes metamorphic rocks belonging to the Malawi Basement Complex which in
the vicinity are dominantly metamorphosed equivalents of gabbro and dolerite. Northerly trending
pegmatite dykes are known to intrude portions of the Chitunde complex.
Proposed Exploration
Oropa plans to swiftly move ahead with establishing an exploration base in Lilongwe during the next
couple of months. The company has already identified additional targets from recent field trips to the
country and has submitted four additional EPL applications for the government’s consideration.
During the 3 year period of current tenure, Oropa intends to systematically explore the Mzimba
Northwest and Chitunde project areas. Initially, reassessment of identified radiometric anomalies will
be ranked in order of priority for their prospectivity for uranium occurrence and for subsequent ground
spectrometer surveys. This work will be augmented by geological interpretations of the search areas
using satellite imagery. Priority targets will then be assessed using a combination of soil, rock and
stream sediment surveys in order to outline areas for more intensive exploration. These geochemical
studies will be augmented by geological mapping and ground geophysical surveys. Over areas
warranting detailed assessment, systematic trenching of anomalous areas will ensue followed by
reconnaissance drilling to establish the tenor of mineralisation present both along strike and at depth.
It is envisaged that the highest priority areas of mineralisation with demonstrated economic potential
will be drilled further with infill drilling in order to provide sufficient information to preliminarily assess
resources ahead of more detailed economic assessments.
Oropa is currently reviewing existing data and acquiring satellite imagery covering areas of interest
with a view to establishing a GIS database as part of the preparation for ground investigations.
25 Charles Street, South Perth WA 6151 PO Box 1013, South Perth WA 6951
Telephone: (08) 9368 4544 Facsimile: (08) 9368 4522
Web: www.oropa.com.au Email: [email protected]
ACN: 009 241 374
Uranium Exploration in Malawi
Malawi is an emerging uranium region within Southern Africa with significant recent activity from
several foreign explorers. The Government is actively encouraging mineral exploration in the country
and permits the mining of uranium. Malawi is surrounded by Tanzania, Zambia and Mozambique
and shares similar regional geology to its neighbours. However, the few known mineral occurrences
in Malawi have not been subjected to any modern exploration until the aftermath of Paladin
Resources Ltd’s (“Paladin’s”) decision to undertake a bankable feasibility study on its Kayelekera
Uranium Project in the north of the country. Today, uranium exploration in Malawi reflects a high level
of interest with the planned development of the Kayelekera Uranium Project, where roll-front style
mineralisation is hosted by Karroo sandstone and mudstone sediments. The project is scheduled to
25 Charles Street, South Perth WA 6151 PO Box 1013, South Perth WA 6951
Telephone: (08) 9368 4544 Facsimile: (08) 9368 4522
Web: www.oropa.com.au Email: [email protected]
ACN: 009 241 374
be commissioned in late 2008 with a forecast annual production of 3.3 Mlbs of U3O8 over a mine life
of 7 years based reportedly on proven and probable ore reserves of 10.46 Mt at 0.108% U3O8.
Uranium in Malawi is however not limited to Karroo-hosted deposits.
Globe Uranium Limited is currently exploring multi-commodity uranium-niobium-tantalum-zircon
mineralisation associated with pegmatite veins within alkalic granitoid at the Kanyika Uranium Project
in central Malawi. Recent ground radiometric, soil and rock chip sampling surveys have defined drill
targets which are currently being investigated.
Other uranium mineralisation known in Malawi is based on historical records and includes uranium
and niobium mineralisation hosted by nepheline syenite complex intrusions. In the far northwest of
the country at the Ilomba Hill locality surface trenching in the 1950s investigated a radioactive zone
where rock samples returned analyses up to 2.15% U3O8 and 7.50% Nb2O5 associated with uranian
pyrochlore.
Exploration for uranium in Malawi beyond known deposits is judged to be in its infancy as little
modern exploration has taken place other than for coal and industrial minerals.
Presently, the starting point for area selection for uranium properties in Malawi is the country wide
radiometric surveys conducted in 1984/85 by Hunting Geology and Geophysics Limited based at the
time in the United Kingdom. The uranium anomalies identified by these surveys are the basis for
area selection by Oropa for the two granted EPLs in Malawi
Yours faithfully
OROPA LIMITED
Philip C Christie
Director