• Neo Uranium Resources Beisa Mine (Pty) Limited ('NURB'), has signed a binding agreement with Sunshine Mineral Reserve (Pty) Limited (‘Sunshine’) to acquire a 100% interest in the multi-million pound uranium and multi-million ounce gold resources of the Beisa North and Beisa South Uranium and Gold Projects (the 'Beisa Projects').
• The Beisa Projects comprise total SAMREC Code compliant resources of 90.24 million pounds ('Mlbs') of U₃O₈ and 4.17 million ounces ('Mozs') of gold
• The Beisa Projects, comprise two granted Prospecting Rights, extending over an area of approx. 80km2 in the Witwatersrand Basin, located in the Free State Province of South Africa. This region is South Africa's primary uranium producing region, where uranium has been mined continuously for over 70 years.
• The Witwatersrand Basin, is historically one of the richest gold-producing regions in the world, having produced about 2 billion ounces of gold over more than a century.
* Location * Resources * Commercials * Potential *
• The Beisa North and Beisa South Uranium and Gold Projects (the 'Beisa Projects') contains one of the largest and currently undeveloped uranium resources in South Africa.
• Total inferred resources in the Beisa Reef comprise 53.57 million tonnes (‘Mt’) at an average grade of 780ppm U₃O₈ for 89.23 Mlb of contained U₃O₈ and with a number of large zones of well-mineralised and high-grade uranium occurring at both Beisa North and Beisa South at grades of up to 3,400 ppm U₃O₈ and 2,200 ppm U₃O₈ respectively.
• The total in situ value of the inferred uranium and gold resources is over US$17 billion based on the prevailing spot uranium and gold prices.
• The uranium-bearing Beisa Reef, on both the Beisa North Uranium Project and Beisa South Uranium Project, is considered the shallowest deposit in the well-known Welkom Goldfield in the Witwatersrand Basin.
• The Beisa Reef is unique in the sense that besides uranium, it also contains relatively high concentrations of gold, with an average grade of 2.03 g/t on the Beisa North Uranium Project for Inferred Resources of 2.05Mozs of gold.
• An additional ore body, the Beatrix Reef, is present on the Beisa South Uranium Project and contains inferred resources of 1.54 Mozs of gold. This gold-bearing reef is well-known in the area and is currently being successfully mined by multiple neighbouring mines.
• Under the commercial terms of the Agreement, the Company will pay Sunshine in cash and share-based schedules, as well as grant Sunshine a royalty on uranium and gold produced and sold by the Company from the Beisa Projects of between US$3.00/lb to US$5.00/lb when the uranium spot price is between US$100/lb and US$150/lb and a gold royalty of US$7.50/oz.
• The acquisition of the Beisa Projects is supported by the Company’s major shareholder, Dubai based AUO Commercial Brokerage LLC (‘AUO’), and director Mr Quinton van der Burgh
The Henkries deposit is located 80km North of Springbok in the Northern Cape Province, which is host to a number of established operating uranium mines which include Rossing and Langer Heinrich. The project was discovered by Anglo American in 1975 with Uranium mineralisation hosted in soft, very shallow paleochannel sediments.
* Location * Cost * Market * Potential *
JORC Resource Estimate (Jan 2022)
4.7 Mlbs U3O8 at 399 ppm
Pilot plant metallurgical work confirmed good recoveries and process flowsheet
Opportunity to accelerate production in a relatively short time frame
Key studies to be updated and fully funded from IPO
Forecast low cost mining as deposit and uranium mineralisation.is very shallow and free-dig - no blasting or crushing is required and minimal grinding
Green energy - industry needs at least to double its development pipeline of new projects by 2040 to avoid potential supply disruptions
Good infrastructure and highly skilled labour force in the area
Power and water on site
Large license area with considerable upside potential with less than 10% of prospective ground fully tested
• Neo Uranium Resources South Africa (Pty) Ltd (‘NURSA’) entered into an agreement with South African uranium exploration company, Eagle Uranium SA (Pty) Ltd to acquire a 100% interest in the Henkries South Uranium Project (‘Henkries South’) located in the administrative district of Namaqualand in the Northern Cape Province of South Africa.
• The project is located immediately south and adjoins the Henkries Uranium Project and comprises one granted Prospecting Licence extending over approximately 1,050km² and includes the farms Naip no. 68, Eendop no. 69, Kontorogab no. 75, Kweekfontein no. 73, and Kaitob no. 74.
• The acquisition of Henkries South materially increases the Company’s strategic landholding in the region by over 130% from a current 742km2 area to almost 1,800km2.
• It adds a further 10km strike length of shallow paleo-channels to the current 36km of strike length of paleo-channels that have been demonstrated to host the shallow uranium mineralisation at the Company's Henkries Project from the multiple resource drilling programmes and feasibility work completed as part of the historic US$30 million of exploration and development expenditure.
• Henkries South contains multiple radioactive anomalies located throughout the licence area and given the extent of these radiometric anomalies, these targets are expected to add significantly to the resource potential at the Henkries Project.
• In addition, the shallow and at surface uranium mineralisation seen at the Company's Henkries Project is considered to have been derived from uranium that has been transported across and from Henkries South, from the uraniferous granites in Springbok.
• Uranium mineralisation in the southern area of the Henkries Project is seen at surface and at shallow depths of up to 6.0m, demonstrates good continuity and averages between 300ppm U3O8 to 400ppm U3O8 and has always been considered as offering the potential for major new and significant uranium discoveries.
