Snow Lake Resources Ltd. has initiated drilling at the Engo Valley Uranium Project in Namibia, aiming to confirm and delineate the uranium mineralization historically documented at the site.
The two-phase drilling program will cover approximately 3,600 meters, with the goal of producing a SK-1300 compliant mineral resource estimate.
This move is part of Snow Lake’s strategy to bolster its clean energy mineral portfolio, aligning with global trends in electrification and decarbonization.
“Historic records document the existence of uranium mineralization at Engo Valley, and we have high hopes that our current drill program will confirm the presence and begin to delineate the extent of such mineralization,” commented Frank Wheatley, CEO of Snow Lake. “We have completed our ground geophysics program, and our drillers are now on site to begin the first phase of our planned drill program.”
The Engo Valley Uranium Project is located on the Skeleton Coast of northwest Namibia, approximately 600 kilometers north of Swakopmund. Namibia is currently the world’s third-largest producer of uranium, accounting for 11% of global production in 20221. Uranium mineralization was discovered at the Project in 1973 and exploration was conducted intermittently by Gencor between 1974 and 1980.
The Project holds Exclusive Prospecting License 5887 which covers an area of 69,530 hectares and is valid until February 12, 2026. Snow Lake currently holds an effective 68% interest in the Project, with the ability to increase its interest to 85% upon incurring additional exploration expenditures. The Project is considered to be an underexplored, top tier exploration project with historical, non-mining code compliant uranium resources that would benefit from modern exploration techniques and technology for uranium exploration.
Current uranium development activities in Namibia include: Deep Yellow Limited (ASX: DYL) progressing the development of its Tumas Uranium Project, with commercial production projected for 2026 and Bannerman Energy Ltd. (ASX: BMN) undertaking early works activities on its Etango Uranium Project as it advances towards a final investment decision. If these two projects reach commercial production, they will join the three currently operating uranium mines: Rossing, Husab and Langer Heinrich. Forsys Metals Corp. (TSX: FSY) has reached the mineral resource estimate stage of development on its Norasa Uranium Project.