ENRG Elements Limited provided an update on the rock chip sampling program completed in third quarter of current year 2022 at the Company's Agadez
Uranium Project, which has delivered outstanding assay results and confirmed mineralisation throughout the tenement package. The rock chip sampling program focused on several areas identified by airborne radiometric geophysical surveys and historic sampling undertaken on the tenements, as: Terzemasour 1 (TER 1): Takardeit Centre, being the location of the current Inferred Mineral Resource Estimate (MRE) (Takardeit Deposit); and Takardeit East, Takardeit North and Takardeit North-West (Takardeit Prospects); Toulouk 1 (TOU 1) at the Anou Aaren South and North prospects; and Tagait 4 (TAGT 4) at the Idekel prospect. The 83-rock chip sample program, commenced in June 2022, shortly after the Company's acquisition of the Agadez Project. Assaying of samples was undertaken by Intertek, in Perth Western Australia. To validate Intertek's assay results, samples returning values over 1.0% U3O8 were independently re-assayed by ALS, in Brisbane Queensland, using an alternate assay technique. Comparison between the two sets of laboratory results have indicated a strong correlation confirming Intertek's original assay values. The rock chip sampling program was intended to provide geochemical assay results within areas identified from previous airborne radiometric surveys within the tenement package and confirm historical sampling undertaken by NGM Resources Ltd. in 2009. The campaign confirmed that significant mineralisation occurs at the surface with the higher results below (all greater than 1.0% U3O8): TKD066 ­ 343,008ppm U3O8 (34.3%); TKD086 ­ 261,066 ppm U3O8 (26.1%); TKD015 ­ 27,255 ppm U3O8 (2.7%); TKD090 ­ 18,357 ppm U3O8 (1.8%); and TKD017 ­ 11,772 ppm U3O8 (1.2%). Rock Chip Sampling Program Results: Overall, the rock chip sampling program was very successful with 74 of the 83 (89%) samples collected returning values over 500ppm U3O8. Furthermore, in view of the significance of some of the values within the dataset, samples greater than 1.0% U3O8 (ie 10,000ppm) were re-assayed at an alternate laboratory (ALS - Brisbane, Australia) using a different methodology. The ALS results confirmed the original assays obtained by Intertek. The rock chip sampling program has identified coincident surface expressions of the previously interpreted airborne radiometric survey anomalies as well as confirmed the stratigraphy that hosts the mineralisation. Initial analysis of the results indicated that several of the samples contained
significant uranium values. In order to initially confirm the assays results, all values over 1.0% U3O8 were re-assayed at an alternate laboratory despite the Certified Reference materials (CRM) inserted into the sample stream reporting correct values. The comparison between the original
assays and subsequent re-assays is briefly addressed above with the samples reporting a good correlation over the whole grade range with only a minor bias towards the re-assayed samples noted. The results of the rock chip sampling program indicate the presence of significant surface
mineralisation within the tenement package and these results, in conjunction with the airborne radiometric survey, will be utilised to define priority targets for the upcoming regional exploration program. Next Steps: Full analysis of the results from the rock chip sampling program will enable the Company to effectively `calibrate' the airborne radiometric survey and then allow for the planning of additional near surface drilling programs.
Based on these results, ENRG Elements aims to undertake a further regional exploration programs which is expected to include: Detailed geological and structural mapping; Additional rock chip sampling; and Localised near surface drilling.