MEDIA
the company
NE Exploration and Development Corp. (Formerly OG Acquisition 2 Corp. or the “Company”) is a special situation acquisition company, focused on investing and acquiring Uranium Exploration growth assets. NE Exploration and Development Corp., is intending to utilize a value-added strategy of progressing priority mineral properties through exploration and development. The Company has acquired by way of a share exchange Namibia Minerals and Investment Holdings (Pty) Ltd, a Namibian entity which holds 100% rights to the Namibian Engo Valley Uranium Project with the Exclusive Prospecting Licenses 5887, with intentions to advance the project into a producing mine. The Project was partially explored between 1974 and 1980 by General Mining (“Gencor”) with a preliminary drill program that yielded estimated ore reserves of 5.68 million tonnes at 340 PPM uranium oxide; the Company has conducted a preliminary Due Diligence program which uses international standards for calculation and the Company believes the combined tonnage to be approximately 74.5 million tonnes at 252 PPM, which would translate to 37.5 million lb resource. The project will be subject to a NI 43-101 compliant technical report and further sampling near term, followed by a drill program post-listing. Initial observations indicate several known uranium rich anomalies which require further testing and observations. Samples suggest the Engo Valley Uranium Project to be a world class uranium deposit across a km trend.
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The Company is focused on an advanced asset play poised for growth and monetization having acquired a top tier uranium project encompassing over 68,283 hectares in the Skeleton Coast National Park region, NW Namibia. The 43 101 technical report should produce an inferred resource by Q2 2024.
