Karoo to Acquire Zambian Chirundu Uranium Project

Karoo Exploration Corp. (TSXV: KE.V) has entered into a letter of intent with African Energy Resources (ASX:AFR) to acquire the Chirundu Project, and a slew of uranium properties, in Zambia.

According to the company’s press release:

The Chirundu Project will add to Karoo’s existing portfolio of Uranium projects in Africa.  The properties are located in the south and northeast of Zambia, and are comprised of the Chirundu, Kariba Valley, and North Luangwa Valley projects.  The uranium mineralization at Chirundu and Kariba is hosted by Karoo Supergroup sediments, whereas the North Luangwa Valley mineralization is hosted in feldspathic gneisses of the Karoo basement.

Click here to view the full press release.