PLN grows Namibian uranium position
Special Report: Pioneer has acquired the Gaobis uranium project in a move that significantly expands its portfolio in uranium-rich southern Namibia.
PLN picks up Gaobis uranium project in Namibia
Project a natural extension to existing project in the country's south
Plan is now to double down on high-priority drill targets
The project adds ~350sqkm of prospective ground in proximity to the company's Warmbad project.
Namibia, which is the world's third-largest uranium producer, contributing ~11 % of global output, offers a stable, transparent regulatory environment for uranium development.
The geological setting of Gaobis mirrors the world-class Rössing mine and Henkries uranium deposit, which Pioneer (ASX:PLN) said highlighted strong potential for alaskite and paleochannel-hosted uranium mineralisation.
It's also a natural extension of Warmbad, providing exploration potential and a clear pathway to rapid resource growth.
Historic drilling results confirm mineralisation and include 23.9m at 100ppm U₃O₈ and 22.59m at 141ppm.
The company plans to target a 1.7km-long radiometric anomaly as well as several walk-up, shallow drill targets primed for exploration.
Building a big uranium district
The company said picking up the project was part of a strategic expansion of the existing Warmbad project and further strengthened its portfolio of critical minerals essential to the global transition toward a low-carbon future.
'The Gaobis uranium project is an extension of the Warmbad project with excellent historic drill intercepts in alaskite granite from surface,' CEO Michael Beven said.
'The mineralisation associated with the historic drilling is open in all directions with the strongest radiometric anomalies along the fold hinge still untested.
'The addition of Gaobis provides Pioneer the opportunity to rapidly expand its uranium inventory by building on the previous work completed by Xemplar Energy once all required exploration permitting is complete.'
Pioneer will now engage with Namibia authorities to advance permitting and development activities and refine the priority drill targets.
This article was developed in collaboration with Pioneer Lithium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Pioneer expands Namibian uranium base with Gaobis acquisition
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