Gibb River enters Namibian uranium sector

Australian company Gibb River Diamonds has acquired two uranium projects in Namibia, comprising six exclusive prospecting licences covering 1 828 square kilometres.

The company, which is also developing the Ellendale diamond project and Edjudina gold project in Australia, acquired projects in the Erongo and Kunene regions of Namibia.

Erongo is one of the world’s foremost uranium-producing areas, home to assets such as Paladin’s Langer Heinrich, Deep Yellow’s Tumas deposit and Elevate Uranium’s Koppies project.

Gibb’s Erongo project currently consists of two permit applications with a combined area of 47.6 square kilometres. The company is keen to increase its landholding in Erongo and said it is “actively seeking deals” in the area.

The Erongo permits are prospective for calcrete-palaeochannel-hosted uranium deposits. Elevate's Koppies North prospect is truncated by Gibb's permit boundary.

Gibb stated that it is progressing environmental and heritage clearances to gain access for exploration and drilling on both permits and expects the process to take five to six months.

In addition, it has announced the appointment of geologist Nico Scholtz as its Namibian exploration manager.

Meanwhile, Gibb stated that it continues to progress its Western Australian projects with an upcoming publication of a further alluvial resource at the Ellendale and the grant of the mining lease over the Edjudina project.

The company also noted that it has considered a number of Western Australian uranium projects, but has decided not to pursue these opportunities.