Modern Mining September 2016

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September 2016 MODERN MINING17
MINING News
Marenica and Deep Yellow
conclude technology deal
ASX-listed Marenica Energy has entered into a definitive and binding
Technology Licence Agreement (TLA) with Deep Yellow, also listed on
the ASX. Under the TLA, Marenica will provide its U-pgrade™ technol-
ogy and expertise to DeepYellow for use towards development of the
Tumas uranium project in Namibia in return for a licence fee for the
entire life of the project.
Both parties sought to formalise the TLA after the successful test
work programme recently completed by Marenica on the Tumas ore.
Marenica’s U-pgrade™ technology can potentially deliver such signifi-
cant project and operating cost savings as to fundamentally impact
the competitiveness of projects with suitable ores.
The TLA represents a landmark agreement for Marenica. Deep
Yellow will have the ability to apply Marenica’s technology in return
for a long term licence fee which equates to around 25 % of the net
present value (NPV) of the Tumas project under a range of possible
development scenarios. So long as the positive test results achieved
to date continue, both parties are confident that the agreement has
the potential to lower the uranium price hurdle for the Tumas project.
“We have long identified Deep Yellow’s Tumas project as a good
fit for our first commercialisation agreement, based on the project’s
high suitability for our technology, the project’s relatively advanced
stage of development and the excellent cultural fit between the two
companies,” says Murray Hill, Marenica’s MD. “Importantly, the project
is located in Namibia, a jurisdiction that is highly supportive of the
uranium mining industry and with operating uranium mines in close
proximity that could take the U-pgradeTM concentrate.” 
Massive sulphides intersected
in first hole at Kantienpan
Orion Gold, listed on the ASX, reports that massive sulphides have
been intersected in the company’s first drill hole at the Kantienpan
deposit in the Northern Cape.
Significantly, says the company, the abundance and species of
sulphides intersected are similar to those seen in historical drilling
at Kantienpan, including KN005 which returned 8,84 m at 6,32 % Zn
+1,02 % Cu. KN005 is 50 m south of the first drill hole, OKNR014.
Orion’s drilling at Kantienpan aims to confirm historical drilling and
test potential strike extensions to mineralisation. A fence of holes will
be drilled to the north and south of the historical drilling to test these
areas. In addition, holes will be drilled in close proximity to selected
holes to confirm both historical results and interpreted orientations
to the mineralised zone.
Data from drilling will be used to assist in the interpretation of a
high powered ground electromagnetic (EM) survey which is antici-
pated to commence in coming weeks to enable targeting of future
drilling.
The Kantienpan deposit was delineated by a previous fixed loop
EM survey and has very poor surface exposure. The new high powered
survey will provide significantly greater resolution and depth penetra-
tion, enabling the morphology of the conductor to be modelled prior
to deeper drilling. 