New uranium exploration in Sudan
May 7, 2008
A news release issued here confirmed that the licence was for the exclusive exploration of uranium and associated minerals over an area of over 5 000 squ km of Budi County, in the eastern Equatoria state of Southern Sudan. The PPL was effective until 21 February 2009, and was renewable annually thereafter. It was deemed provisional as there was currently no formal Mining Law in Southern Sudan. Accordingly, the release explained, there could be no certainty that on introduction of a formal Mining Law the PPL would continue to be valid or would be renewed.
A field team is currently carrying out a regional exploration programme of stream sampling, radiometric surveying and mapping in the region, and an airborne aeromagnetic and radiometric survey is scheduled once all flight permitting is in place.
The Shield news release emphasised that while the company believed that the Southern Sudan presented potentially attractive exploration opportunities, it intended to limit its expenditure until the Mining Law was clarified further. It had therefore budgeted to spend up to an initial US$1 million (R7.6 million) on its exploration activities in the region in the next 12 months.
Shield is seeking both primary and secondary uranium targets within an area that has received little attention or application of modern exploration techniques, the release concluded.