The company had in November renewed the three Nova Joint Venture Exclusive Prospecting Licences in Namibia for a further two years.
This gives it more time to search for higher grade alaskites, specifically on EPL3669 and EPL3670, using results from the target generation study.
It had earlier in 2013 demonstrated that its Omahola project had encouraging heap leach potential.
Alaskite is the main source of ore hosting uranium at Omahola, which hosts a resource of 48.7 million tonnes at 420 parts per million U3O8 and is located within Namibia's 'Alaskite Alley', which includes the Rio Tinto's (ASX: RIO)Rossing uranium mine and Taurus Minerals' Husab uranium project.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.