"Pioneer Lithium Expands Portfolio with Acquisition of Gaobis Uranium Project in Namibia, Unlocking Growth Potential"

Pioneer Lithium has agreed to acquire the Gaobis uranium project in Namibia from Ropa Investments for A$50,000. The project expands Pioneer’s portfolio in a region known for uranium mineralization, covering 350km² near the South African border. The primary uranium mineralization is within alaskite intrusions with historical exploration confirming significant deposits.

The acquisition is expected to be completed in Q2 2025 pending regulatory approvals. Pioneer Lithium plans to conduct a systematic exploration program at Gaobis, engaging with Namibian authorities to refine priority drill targets. The project presents an opportunity for Pioneer to expand its uranium inventory and build on previous work completed by Xemplar Energy.

CEO Michael Beven highlighted the historic drill intercepts at Gaobis, emphasizing the potential for open mineralization in all directions. The project’s mineralization is associated with alaskite granite, with radiometric anomalies along the fold hinge still untested. Pioneer intends to capitalize on these findings once exploration permitting is complete.

Pioneer Lithium’s acquisition of the Gaobis uranium project in Namibia is a strategic move to enhance its presence in a region with prolific uranium mineralization. The company’s plans for systematic exploration and engagement with Namibian authorities indicate a commitment to unlocking the project’s full potential. The acquisition aligns with Pioneer’s goal of expanding its uranium inventory and leveraging historical exploration data for future growth.

Read more at Yahoo Finance: Pioneer Lithium to acquire Gaobis uranium project in Namibia