African Eagle Resources plc

Projects > Projects Overview > Uranium Projects

Uranium Assets

In mid-2007, African Eagle established a Uranium Division to hold the uranium rights to eight targets which the Company has in Tanzania, Zambia and Mozambique. The targets include calcrete and playa type deposits in Neogene to Recent sediments, sandstone hosted deposits of Karoo and Cretaceous ages and vein deposits in crystalline basement rocks, as summarised in the table below.

The Company is investigating alternative ways to develop these holdings, in order to maximise shareholder benefit, including exploring them in-house, joint venturing, vending them into a uranium specialist company, or developing them in a new listed subsidiary.

In the meantime, African Eagle has started exploration in some of the areas, with ground spectrometer surveys underway at Sasare and Lunga.

Assets	Targets	Licence status	Prior exploration	Geology
Sasare, Zambia	Karoo sandstone hosted	100% owned PL 257	RTZ airborne survey, data held	Upper Karoo arkoses and mudstones of the Luangwa half-graben
Lunga, Zambia	Calcrete	100% owned PL 134	Airborne by Fugro for African Eagle, regional soil geochemical survey	Abandoned river catchment
Shikula, Tanzania	Karoo sandstone hosted	One licence held 100% and another 80% via Troll Mining	Coal exploration in 1950s; country-wide airborne geophysics in late 1970s	Karoo sediments preserved in Rukwa Rift
Idiwili/Bundali, Tanzania	Basement veins	Seven licences held 80% via Troll	BHP regional exploration; countrywide airborne geophysics as above	Ubendian gneiss, quartzites and banded ironstones, pitchblende veins
Nondwa/Wembere, Tanzania	Playa type	Five licences held 100%	Uranex auger sampling on adjacent ground; countrywide airborne geophysics as above	Interior drainage with high evaporation
Tanga, Tanzania	Karoo sandstone hosted	Applications for 3 licences	Single anomaly detected by airborne survey just outside application area	Karoo sandstones in coastal basin
Sena, Mozambique	Cretaceous sandstone hosted	Five reconnaissance licences, held 100%	Regional airborne survey in late 1980s	Fluvial channel sequences down dip of acid volcanics, similar to Beaufort Group in SA