Kopore Metals has acquired a 100% stake in the Agadez uranium project in the highly prospective Tim Mersoi Basin, Niger, from Endeavour Finance.
The Agadez Project includes three granted exploration permits and one exploration licence application in the Tim Mersoi Basin, which is claimed to be one of the world’s major uranium-producing areas.
According to the binding share sale agreement, Kopore Metals has issued 120 million of its shares, 80 million performance shares, and 50 million performance options to Endeavour Financial.
The performance shares and options will be subject to Kopore declaring a mineral resource estimate of at least 16Mlb of U₃O₈ on any one of the permits.
Kopore managing director Caroline Keats said: “The coming period is a very exciting time for the company, with an update of the Takardeit Mineral Resource in compliance with JORC 2012 Guidelines underway and drilling and soil sampling to commence immediately.
“We also have further exploration planned, which is expected to include geological and structural mapping, an airborne EM survey (VTEM) and an extensive mud rotary drilling programme.
“We look forward to advancing Agadez with the aim of capitalising on the increasing demand for nuclear fuels, as the world continues to shift towards a decarbonised energy system.”
Kopore is planning to start drilling and soil sampling with a comprehensive drilling and exploration programme.
This will be followed by an exploration programme, which will include geological and structural mapping, an airborne EM survey, diamond hole drilling, and a mud rotary drilling programme.