Pioneer Lithium inks deal for Gaobis uranium project in Namibia

Pioneer Lithium has signed a binding sale agreement to acquire the Gaobis Uranium Project in southern Namibia, marking a significant step in its strategic expansion into uranium exploration.

The acquisition is being made through the purchase of 100% of the issued share capital of Tamarillo Investment, the entity that holds the Gaobis project. The transaction, valued at A$50,000 (approximately US$32,641), is structured as a sign-on fee and a final payment upon the transfer of assets. Completion of the deal is anticipated in the second quarter of 2025, subject to regulatory approvals in Namibia.

Gaobis project

The Gaobis project covers an area of approximately 350 square kilometres and is located near the South African border within a favourable mining jurisdiction. It sits adjacent to Pioneer’s existing Warmbad project and is situated in the Namaqua-Natal metamorphic province, a region characterised by complex Proterozoic-aged geological formations.

The primary uranium mineralisation at Gaobis is hosted within alaskite intrusions, which contain uranium-bearing minerals such as uraninite and betafite. Historical exploration by previous operators, including Xemplar Energy, involved airborne radiometric surveys, geological mapping, and drilling campaigns that confirmed the presence of significant uranium mineralisation.

According to Pioneer Lithium CEO Michael Beven, the Gaobis Uranium Project is viewed as a natural extension of the Warmbad project. He noted that historical drilling in alaskite granite has returned promising results from surface, and that mineralisation remains open in all directions. Beven highlighted that the strongest radiometric anomalies, particularly those along a fold hinge structure, have yet to be tested, offering considerable exploration upside. The company believes this acquisition provides a valuable opportunity to rapidly expand its uranium inventory by building on previous exploration work.

Pioneer plans to begin a systematic exploration programme at Gaobis upon the completion of regulatory approvals and permitting. The upcoming campaign will involve engaging with Namibian authorities, refining drill targets, and conducting step-out drilling on previously identified zones. Additionally, exploration will focus on the Gaobis Paleochannel and several high-priority radiometric anomalies located along the fold hinge. This move reinforces Pioneer Lithium’s commitment to becoming a key player in the uranium sector, particularly as global interest in nuclear energy and uranium supply security continues to grow.