Latest news with #Gaobis
Yahoo
10-07-2025
- Business
- Yahoo
Pioneer Lithium to acquire Gaobis uranium project in Namibia
Pioneer Lithium has entered a binding sale agreement for the acquisition of the Gaobis uranium project in southern Namibia from Ropa Investments (Gibraltar). The company will acquire 100% of the issued share capital of Tamarillo Investment, which holds the Gaobis uranium project. The terms of the acquisition involve a total payment of A$50,000 ($32,641), structured as a sign-on fee and payment upon asset transfer. The acquisition, subject to regulatory approvals, is expected to be completed in the second quarter of 2025. The move represents a significant expansion of Pioneer's portfolio in a region known for prolific uranium mineralisation. The Gaobis project spans around 350km² and is situated near the South African border, within a favourable jurisdiction for mining. Located adjacent to Pioneer's Warmbad project within the Namaqua-Natal metamorphic province, the project is characterised by a complex assemblage of Proterozoic-aged rocks. The primary uranium mineralisation at Gaobis is hosted within alaskite intrusions, enriched in uranium-bearing minerals such as uraninite and betafite. Historical exploration at Gaobis includes airborne radiometric surveys, geological mapping and drilling campaigns confirming significant uranium mineralisation. Pioneer Lithium CEO Michael Beven stated: 'The Gaobis Uranium Project is an extension of the Warmbad project with excellent historic drill intercepts in alaskite granite from surface. The mineralisation associated with the historic drilling is open in all directions with the strongest radiometric anomalies along the fold hinge still untested. 'The addition of Gaobis provides Pioneer to rapidly expand its uranium inventory by building on the previous work completed by Xemplar Energy once all required exploration permitting is complete.' Pioneer Lithium plans to initiate a systematic exploration programme at Gaobis, engaging with Namibian authorities and refining priority drill targets. The exploration will include step-out drilling at Gaobis Target and drilling of Gaobis Paleochannel and radiometric anomalies along the fold hinge. "Pioneer Lithium to acquire Gaobis uranium project in Namibia" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Australian
09-07-2025
- Business
- The Australian
PLN grows Namibian uranium position
Special Report: Pioneer has acquired the Gaobis uranium project in a move that significantly expands its portfolio in uranium-rich southern Namibia. PLN picks up Gaobis uranium project in Namibia Project a natural extension to existing project in the country's south Plan is now to double down on high-priority drill targets The project adds ~350sqkm of prospective ground in proximity to the company's Warmbad project. Namibia, which is the world's third-largest uranium producer, contributing ~11 % of global output, offers a stable, transparent regulatory environment for uranium development. The geological setting of Gaobis mirrors the world-class Rössing mine and Henkries uranium deposit, which Pioneer (ASX:PLN) said highlighted strong potential for alaskite and paleochannel-hosted uranium mineralisation. It's also a natural extension of Warmbad, providing exploration potential and a clear pathway to rapid resource growth. Historic drilling results confirm mineralisation and include 23.9m at 100ppm U₃O₈ and 22.59m at 141ppm. The company plans to target a 1.7km-long radiometric anomaly as well as several walk-up, shallow drill targets primed for exploration. Building a big uranium district The company said picking up the project was part of a strategic expansion of the existing Warmbad project and further strengthened its portfolio of critical minerals essential to the global transition toward a low-carbon future. 'The Gaobis uranium project is an extension of the Warmbad project with excellent historic drill intercepts in alaskite granite from surface,' CEO Michael Beven said. 'The mineralisation associated with the historic drilling is open in all directions with the strongest radiometric anomalies along the fold hinge still untested. 'The addition of Gaobis provides Pioneer the opportunity to rapidly expand its uranium inventory by building on the previous work completed by Xemplar Energy once all required exploration permitting is complete.' Pioneer will now engage with Namibia authorities to advance permitting and development activities and refine the priority drill targets. This article was developed in collaboration with Pioneer Lithium, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
