Core Energy Minerals (ASX: CR3) has expanded its uranium portfolio in Namibia through the Nova Uranium Project joint venture, adding advanced exploration targets to its existing 100%-owned projects in the Erongo region, one of the country’s established uranium districts.
Under the earn-in agreement, Core Energy can earn an initial 25% interest by spending A$2 million over 18 months, with the option to increase its interest to 51% through a further A$3 million of exploration expenditure. The Nova portfolio includes the Barking Gecko prospect, where historical drilling has identified multiple zones of uranium mineralisation.
Core Energy is now preparing its maiden drilling campaign at Barking Gecko, with targets identified, permits in place and contractors and logistics being finalised. Managing Director Tony Greenaway said the Nova JV gives the company access to drill-ready targets and brings forward its exploration timeline alongside its earlier-stage, wholly owned Namibian projects.
To learn more about Core Energy Minerals’ expanded Namibian uranium portfolio and upcoming exploration program, watch the full Sharecafe Uncovering Hidden Gems presentation.
