Kopore Metals Limited (ASX:KMT) has entered into an agreement with Paladin Energy Limited to acquire the historical uranium mining information for the Agadez Project in Niger.
“The acquisition of this historical information from Paladin Energy Ltd is extremely valuable to Kopore,” Managing Director, Caroline Keats, said.
“This data, which includes geological and geophysical information, surveys, photographs, drill logs and assay results will enable the company to not only validate the historically reported information but inform the forward work programmes, without the significant expense and delay for the company to have to re-do a number of the exploration programmes.
“The receipt of this historical information is very timely, as we are looking to finalise the acquisition of the Agadez Project following Shareholder approval on March 4, 2022.
“The only remaining condition is the Target obtaining a two-year extension on the three granted exploration Permits to November 2024 (on satisfactory terms). This will leave Kopore ready to hit the ground running in Niger.”
In December 2021, Kopore entered into a binding share sale agreement with Endeavour Financial AG to acquire 100% of Endeavour’s uranium project in the Agadez region of Niger, via the acquisition of Endeavour’s wholly owned subsidiary EF Niger Exploration SARL.
The Agadez Project represent a 726 sq km landholding across three tenements in the uranium rich Tim Mersoi Basin. The most prominent uranium prospect on the project area is the Takardeit prospect, where a maiden Mineral Resource estimate was completed in 2010 by NGM Resources Limited.
Paladin acquired the asset following a takeover of NGM in 2010 for A$27 million, when uranium prices were ~US$45/lb. The current uranium price is US$58.50/lb.
The initial Niger land package covered an area of ~1,500 sq. km,of which 50% was relinquished in accordance with Niger mining laws in 2013. The areas retained by Paladin reflect the Permits proposed to be acquired by Kopore.
In 2011, Paladin completed a drilling programme with a total of approximately 12,000m. In 2016 Paladin relinquished all title in the Permits and has no on-going interest in the Agadez Project.
For further information please visit: https://www.koporemetals.com/
