Overview
The Nthalire EPL, in northern Malawi, covers 130km2 and includes Karroo sandstones of the North Rukuru Basin.
This geological unit is considered highly prospective for uranium, as it hosts the Kayelekera Uranium deposit currently under development by Paladin Energy Ltd some 35 kilometres further north. Much of the favourable geology of this Karroo Basin is held under licence for uranium by Paladin, and Globe is very pleased to acquire the southern extension of the target sequence within its new EPL.
Globe believes this area to be highly prospective for sandstone-hosted, roll-front style uranium deposits. This new project complements the Company's Livingstonia project 50 kilometres to the south east, where similar sandstone-hosted targets are soon to be drilled as part of a 15,000m RC drilling program.
Although details of previous exploration within the Nthalire EPL appear limited, a review of earlier records and reports has commenced to identify priority targets. Globe is also reviewing existing airborne radiometric and magnetic data and compiling a GIS database.
