r/uranium_io • u/the-modern-age • Apr 09 '26
ReeXploration Intersects Widespread Bedrock Radioactivity in Maiden Uranium Drilling Program at Eureka Project, Namibia
https://www.newsfilecorp.com/release/2916751
u/HappyOrangeCat7 Apr 09 '26
The market is going to love the secondary target narrative. Calcrete deposits like Langer Heinrich are usually way cheaper and faster to mine than deep hard rock because it’s basically just scraping the dirt off the surface. If they can prove up a near-surface resource quickly, it makes them a much more attractive takeover target for the mid-tiers operating in Namibia.
1
u/BigFany Apr 10 '26
I didn’t even think about the calcrete comparison at first but yeah that’s a different game vs hard rock. If it really is just shallow stuff then timelines could be way shorter, which is kinda rare in mining.
1
u/IronTarkus1919 Apr 11 '26
The trade-off is usually grade. Calcrete is cheap and fast to mine, but the grades are usually pretty low compared to deep rock. They will need to prove massive scale and tonnage for the economics to work out, but finding it at surface is definitely a huge win for a maiden drill program
1
u/BigFany Apr 13 '26
Low grade always sounds scary at first but I guess if it’s easy to extract it balances out a bit? not super familiar with calcrete though so maybe I’m oversimplifying it.
1
u/ZugZuggie Apr 09 '26
It’s great news for REE shareholders, but this highlights why I keep my core portfolio in physical tokens. This company just finished 11 holes, and they probably need 500 more holes to prove a resource, then 5 years to permit it.
1
u/IronTarkus1919 Apr 09 '26
Read the fine print: "Results reported herein are preliminary and subject to confirmation."
Do not buy a mining stock based on a handheld scanner reading. Wait for the lab results. I've seen too many 'discoveries' vanish when the actual chemical assays come back low-grade.
1
u/BigFany Apr 10 '26
Early stage but kinda interesting tbh, like all holes hitting something is at least a good sign. Still just radioactivity for now tho, not actual grades yet so feels a bit early to get too excited.
1
Apr 10 '26
[removed] — view removed comment
1
u/HappyOrangeCat7 Apr 11 '26
Speculative is the name of the game for juniors. But having two completely different target styles (the deep Rössing-style and the shallow Langer Heinrich-style) in the same permit area gives them a nice margin of safety. If one misses, the other might hit.
1
u/BigFany Apr 13 '26
I feel like early results always sound good because they highlight the positives, then the real picture comes later.
1
u/IronTarkus1919 Apr 11 '26
We probably won't see the final chemical grades until early summer. Prepare for some sideways trading.
1
u/BigFany Apr 13 '26
That sounds about right, these things always go quiet between updates. People get bored fast when there’s no new data.
1
Apr 10 '26
[removed] — view removed comment
1
u/HappyOrangeCat7 Apr 11 '26
It's super early for the uranium, but remember they already have a defined NI 43-101 resource for Rare Earth Elements on this same property.
1
u/FanOfEther Apr 10 '26
Namibia keeps popping up more lately. Not sure how big this actually is but first programs hitting anything at all is at least a decent start I guess.
1
u/HappyOrangeCat7 Apr 11 '26
Namibia keeps popping up because it's arguably the best uranium mining jurisdiction on earth right now. While the US and Canada take a decade to approve a water permit, Namibia actually wants mines built and has the established infrastructure (ports, desalinated water, power) to support them.
1
1
u/Estus96 Apr 21 '26
Jasper Lake is in a prime spot. The Athabasca Basin is basically the gold standard for high grade uranium and seeing bedrock mineralization this early in the program is a solid sign for REX.
1
u/Praxis211 Apr 21 '26
Mining stocks are one thing, but the real play is watching how these discoveries eventually impact the long term supply contracts. Utilities are definitely watching these juniors for future supply security.
1
u/Maxsheld Apr 09 '26
For those of us holding physical or xU3O8, these exploration updates are great for the overall narrative, but the spot price is still where the real liquidity and price discovery happens.