Energy Ventures acquired African Energy Resources Pty Ltd (AFR) and its wholly owned African subsidaries on 25 November 2005. AER commenced it's program on its Kariba Valley uranium prospects in Zambia on 3 May 2006.  Drilling is scheduled to be completed by mid-June with assay results from both Njame prospects anticipated in June and the balance of the program’s results due by July.

This AFR exploration program consists of aircore drilling on the four key Kariba Valley prospects with approximately 120 holes to be drilled to test for uranium mineralisation at the Njame North, Njame South, Chisebuka and Munyumbwe ‘A” prospects.  These prospects were originally identified in the late 1970’s and early 1980’s by AGIP SA following first-pass drill testing of uranium anomalies defined through radiometric surveying.

Project Portfolio

Following the recent grant of four special licences to African Energy Resources in Zimbabwe, the following portfolio of exploration projects are held by the company: