Impact Minerals reports drilling on its Botswana prospecting licenses has intersected uranium mineralization within basement granitic gneiss and migmatite at its Moiyabana prospect. These rocks form a basement to the mineralized Karoo and Kalahari sedimentary rocks that have been the primary focus of Impact’s uranium search in Botswana. Three drill holes have returned broad intercepts, including an intercept of 4.2 m grading 320 ppm U3O8 from 35 m down-hole in fresh rock. The mineralization is hosted by chlorite schist, indicative of a shear zone or fault, and is open at depth and along strike.

Impact Minerals believes the Moiyabana discovery and widespread uranium anomalism and alteration in the region’s Palapye Group rocks have significant implications for uranium discoveries in Botswana. The mineralization has geological characteristics similar to those at and around the unconformity and basement-hosted uranium deposits in Proterozoic rocks in the Athabasca Basin in Canada and the Pine Creek Geosyncline in Australia. This type of uranium mineralization has not been identified previously in Botswana, and there are many hundreds of kilometers of this prospective unconformity and related faults in the adjacent basement that are prospective for such deposits. Impact is the first mover for exploration for this type of deposit in Botswana and has applied for a further 9,000 km2 of prospective ground, some of which is also prospective for Karoo sandstone-hosted uranium deposits.