Marenica Energy Limited (“Marenica” and the “Company”) is pleased to announce results of a Horizontal Loop Electromagnetic (“HLEM”) survey on exclusive prospecting license (“EPL”) 7278 (known as Hirabeb), with results identifying expansive and deep palaeochannels.
Highlights:
- Horizontal loop electromagnetic surveys at Hirabeb (Namibia) identifies expansive and deep palaeochannels
- HLEM has been successful in identifying palaeochannels at Koppies with follow up drilling demonstrating significant mineralisation
- Hirabeb is Marenica’s largest tenement in the Namib area, 15 times larger than Koppies
Following the success of HLEM surveys at the Koppies prospect in identifying palaeochannels that drilling has subsequently shown to be mineralised, Marenica trialled the technique on EPL 7278. Hirabeb, the largest of Marenica’s tenements in the Namib Area, has extensive historical exploration mapping, and is located upstream of the known Aussinanis deposit.
Historical documentation produced by General Mining Corporation (“Gencor”) indicates the presence of a potentially significant palaeochannel system within the area covered by EPL 7278 (picture below). As a result of this information, a number of HLEM survey lines were undertaken in order to investigate and confirm the location of palaeochannels within the Hirabeb license.
To date, four lines have been completed with an additional line partially completed prior to the COVID19 lockdown within Namibia. In all cases, HLEM has confirmed the presence of both calcrete valley fill and deeper, incised, palaeochannels within the area. In general, the depth of the calcrete material is greater than 10 metres, with the identified palaeochannels reaching depths of greater than 30 metres in a number of places. In comparison, palaeochannels with maximum depths of between 15 and 18 metres were recorded in the Koppies palaeochannel system.
Marenica Managing Director, Murray Hill, commented: “The uncovering of historical exploration information produced by Gencor has been instrumental in identifying key exploration targets, Koppies was an exploration target identified by Gencor. We are excited about the Hirabeb HLEM results which confirm the palaeochannels are at least the width indicated by Gencor, with potentially over half the tenement covered in prospective palaeochannels, presenting the rare opportunity of having an abundance of exploration targets.
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