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ENRG pumps up Niger uranium resource by 100 per cent

Updated: Apr 17


ENRG Elements has bolstered its Agadez uranium mineral resource estimate in the West African nation of Niger. Credit: File

ENRG Elements has bolstered its Agadez uranium mineral resource estimate in Niger by more than 100 per cent to 31.1 million tonnes grading 315 parts per million triuranium octoxide for 21.5 million pounds of yellow cake.


The company’s improved resource estimate includes an increase in grade of 6.8 per cent from 295ppm to 315ppm triuranium octoxide.


Perth-based ENRG acquired Agadez from Endeavour Financial AG and its subsidiary Niger Exploration SARL in May last year for the lowly sum of US$100,000 (AU$151,000), plus 120 million ENRG shares.


Following the transaction, ENRG promptly updated the deposit’s inventory to a JORC 2012-compliant resource of 16.5 million tonnes at 295ppm triuranium octoxide equivalent for 10.7 million pounds.


The company’s revised estimate follows a flurry of activity at its Takardeit uranium deposit, where a maiden drilling campaign saw 5500m target near-surface sandstone-hosted uranium mineralisation in an extensive paleo-drainage system.


Headline hits from the shallow probe included 2m at 2266ppm triuranium octoxide equivalent from 22.7m, 2m grading 1562ppm from 28.2m and 2m going 1172ppm from a depth of just 24.7m.


This Resource update demonstrates the exciting potential for the Agadez Project and with a drilling program planned to commence in the coming months, we look forward to further building on this Mineral Resource Estimate at Takardeit and to identify other priority regional exploration targets within our tenement package.


This Resource update demonstrates the exciting potential for the Agadez Project and with a drilling program planned to commence in the coming months, we look forward to further building on this Mineral Resource Estimate at Takardeit and to identify other priority regional exploration targets within our tenement package. ENRG managing director Caroline Keats

The basin boasts the biggest and highest-grade uranium ores in Africa, totalling 439,400 tonnes of uranium.


Outside of Takardeit, ENRG has tabled a 90 to 130-million-pound exploration target grading between 300 and 400ppm triuranium octoxide inside a trio of mineral-rich tenements that cover more than 700sq km.


In February this year, the company unveiled a swag of uber-high uranium results in rock-chip specimens taken from a selection of intriguing targets within its tenure, peaking at 34.3 per cent triuranium octoxide and with another sample returning 26.1 per cent.


Of the 83 samples collected, 74 returned values of more than 500pm triuranium octoxide, alluding to the presence of significant under-explored surface uranium mineralisation.


ENERG will use the data in conjunction with an airborne radiometric survey to define priority targets for its upcoming regional exploration program.


The 2021 Nuclear Fuel Report released by the World Nuclear Association forecasts a 38 per cent increase in uranium demand between 2031 and 2040, spurred on by a global 2050 net-zero target. As nuclear energy regains popularity as a clean and almost green fuel, Trading Economics has tipped the controversial power source to climb to US$54 (AU$82) per pound over the next year.


With supply and demand trending in promising trajectories, coupled with an enviable landholding in a top-tier global uranium district, ENRG looks poised to ride the looming green energy wave.


Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au

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