The Marenica Energy Ltd (ASX: MEY) share price was on the move earlier today. However, after posting gains of 3.3% in afternoon trading, the share price is currently flat. This comes after the ASX uranium explorer reported successful early results at one of its projects in Namibia. In addition, Marenica currently holds the largest area of uranium exploration leases in the African nation. What uranium exploration results did Marenica Energy report?
Marenica’s shares moved higher earlier today after the company reported it had discovered an extensive palaeochannel system during its maiden geophysical exploration program at its Namib IV prospect.
The exploration program is intended to reveal uranium mineralisation zones. Additionally, the company said the system it has discovered extends for more than 19 kilometres. Management commentary
Commenting on the exploration results, Marenica’s managing director, Murray Hill said: The structure of this palaeochannel system at Namib IV is extremely promising […]
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