Marenica Energy (ASX: MEY) has been granted a trading halt by the ASX pending the release of an update on the company’s Marenica Uranium Project in Namibia.
Earlier this year, reverse circulation infill drilling at the 75%-owned project intersected more high grade mineralisation in the Eastern part of the Marenica Resource that will lead to improvements to the geological and resource model.
A total of 205 holes were drilled for 11,201 metres and 86% of holes probed returned significant intercepts of more than 100 parts per million uranium oxide equivalent.
A Definitive Feasibility Study relating to the Indicated Resource at the Marenica project is expected to be completed by the end of 2012.
The trading halt will be in effect until an announcement is made to the market or no later than the start of trading on Wednesday, December 14.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/23334/marenica-energy-in-pre-open-pending-announcement-on-namibian-uranium-project--23334.html
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