Pioneer Lithium, an Australian company, has signed a binding agreement with Ropa Investments (Gibraltar) to acquire the Gaobis uranium project in southern Namibia. The deal involves purchasing 100% of Tamarillo Investment’s issued share capital, which holds the Gaobis project, for a total payment of A$50,000, comprising a sign-on fee and a payment upon asset transfer. Subject to regulatory approvals, the acquisition is expected to finalize in the second quarter of 2025.

The move represents a significant expansion of Pioneer’s portfolio in a region known for prolific uranium mineralisation.

The Gaobis project, spanning approximately 350km² near the South African border, strengthens Pioneer Lithium’s portfolio in a region recognized for its rich uranium deposits. Located adjacent to the company’s Warmbad project within the Namaqua-Natal metamorphic province, Gaobis features Proterozoic-aged rocks hosting uranium mineralisation in alaskite intrusions, primarily uraninite and betafite.

Historical exploration at Gaobis, including airborne radiometric surveys, geological mapping, and drilling, has confirmed significant uranium mineralisation. The project’s untapped potential, particularly along untested radiometric anomalies, positions it as a valuable addition to Pioneer’s assets.

Pioneer Lithium CEO Michael Beven stated: “The Gaobis Uranium Project is an extension of the Warmbad project with excellent historic drill intercepts in alaskite granite from surface. The mineralisation associated with the historic drilling is open in all directions with the strongest radiometric anomalies along the fold hinge still untested. The addition of Gaobis provides Pioneer to rapidly expand its uranium inventory by building on the previous work completed by Xemplar Energy once all required exploration permitting is complete.”

Following the acquisition, Pioneer Lithium plans to launch a comprehensive exploration program at Gaobis, collaborating with Namibian authorities to secure necessary permits. The program will focus on step-out drilling at the Gaobis Target, exploring the Gaobis Paleochannel, and investigating radiometric anomalies along the fold hinge to refine priority drill targets.

This acquisition aligns with Pioneer Lithium’s strategy to expand its presence in Namibia’s favorable mining jurisdiction, leveraging historical data to accelerate exploration and development. The Gaobis project is poised to contribute to the company’s growth in the uranium sector, supporting global demand for clean energy resources.