Bayswater has applied directly for a 100% interest in 4,000 sq kms and indirectly through an option agreement with Longview Partners for a 100% interest in an additional 2,000 sq kms in the Tim Mersoi Basin of Niger, West Africa. To date, eight of twelve concessions comprising 4,000 sq kms have been granted.

Location & History

Bayswater has applied directly and indirectly for twelve uranium concessions in two blocks covering over 6,000 square kilometres of land in the Tim Mersoi Basin, a region with favourable geologic settings for the occurrence of major uranium deposits. All of the landholdings fall between 60 and 400 km from the world-class Arlit and Akouta uranium mines which together have produced over 100,000 tonnes of U3O8 to date. The Tikkitene and Eghizi concessions are side by side, lying from 60 to 130 kilometres to the northwest.

Niger is ranked as the world's fourth largest producer of uranium behind Canada, Australia and Kazakstan; and is also ranked fourth in the world in terms of uranium resources. Uranium exports represent over 70% of the country's export proceeds.

The Imouraren deposit, currently under development at a cost of $1.6 billion by Areva, will be Africa’s largest uranium mine, and one of the largest uranium mines in the world, when it comes on stream – anticipated in 2012.

Geology & Mineraliztion

The Arlit (Somair) and Akouta (Cominak) deposits provide excellent geologic models for uranium exploration in Niger. These deposits are of the tabular, oxidized sandstone model—hosted in continental to marine deltaic sandstones along the western margin of older basement rocks forming part of the Air Massif Mountains that form part of the West African Shield. They show close affinity to regional fault structures and structural highs.

The Tikikitene and Eghizi concessions combined provide the Company with a land position comprising a complete cross section of northwest-southeast trending mine stratigraphy along strike from the mine area. The Bayswater landholding, which is extended north-south, covers geophysically indicated northeast-southwest and north-south trending fault structures that are known to control the localization of the deposits in the mine area and elsewhere.

Exploration

To date, eight of the concessions comprising approximately 4,000 square kilometres that were applied for directly by Bayswater and indirectly through Longview have been granted. No work is planned on these concessions until all of the concessions are granted and civil unrest in the country is under control and it is safe to work in Niger. However, the Company has completed a compilation and interpretation of available geophysical data for the area of the concessions. Results of this work have confirmed the favourable structural setting of the concessions and has indentified numerous targets for detailed follow-up work.

 

Recent News Releases from Niger

November 11, 2008

Bayswater Provides Project and Operations Update

 

View the Niger Photo Gallery.

Last updated May 29, 2009

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