Reexploration launches drill program at Eureka

Executive Summary

• Reexploration Inc. has commenced its first drill program at the Eureka uranium project in central Namibia, marking the initial testing of a large-scale uranium target.
• The fully financed campaign aims to evaluate priority zones for primary leucogranite-hosted uranium mineralization and confirm rare-earth element mineralization, providing dual-commodity exposure.
• The target is located along the Alaskite Alley, a corridor known for giant leucogranite-hosted uranium deposits, with drilling designed to test below the weathering profile.

Key Details

• Project Location: Eureka project, central Namibia, situated along the trend of the Alaskite Alley (hosting deposits like Rossing, Husab, and Etango).
• Target Dimensions: A large-scale uranium target defined through integrated geophysical, geochemical, and geological work, measuring 6.5 by 3.5 kilometres.
• Drilling Scope: Up to 2,000 metres of core drilling across 12 to 15 drill holes.
• Drilling Objective: To test for primary leucogranite-hosted uranium mineralization below the weathering profile and validate the geological model.
• Priority Zone Criteria: Zones were selected based on:
  • Airborne uranium radiometric anomalies.
  • High total gamma responses (>500 counts per second) from ground spectrometer surveys.
  • Uranium-in-soil anomalies (>10 ppm U) identified by pXRF analysis.
  • Interpreted leucogranites in contact with reactive calc-silicate host rocks.
• Mineralization: The project hosts confirmed rare-earth element mineralization alongside the uranium target.
• Management Commentary: Interim CEO Christopher Drysdale highlighted the milestone of testing a large, prospective uranium system and the strategic optionality of dual-commodity exposure (uranium and rare earths).
• Qualified Person: Tolene Kruger, BSc (honours), MSc, reviewed and approved the technical information (registered PrSciNat, SACNASP Reg. No.: 148182).

Notable Quotes

• "The start of drilling at Eureka marks a significant milestone for Reexploration, representing our first drill program on a large and highly prospective uranium system... Importantly, Eureka also hosts confirmed rare-earth element mineralization, providing the company with dual-commodity exposure and long-term strategic optionality." — Christopher Drysdale, Interim CEO