Connected Minerals Confirms Economic Uranium Grades at Etango North-East Project

Connected Minerals reports promising results from its drilling program at the Etango North-East Uranium Project in Namibia. Out of 15 holes drilled, 14 showed potentially economical uranium grades, leading to plans for further exploration. The company draws parallels with Bannerman Energy’s nearby Etango Project and aims to enhance its prospects in the region.

Connected Minerals (ASX:CML), based in Australia, is moving ahead with its exploration efforts at the Etango North-East Uranium Project in Namibia after its initial drilling results indicated promising uranium grades. The company, which has a market capitalisation currently standing at $11.4 million, executed a 15-hole, 2,688-meter reverse circulation drilling program. Remarkably, 14 out of the 15 holes drilled returned grades that could be considered economically viable.

Among the notable findings, drilling revealed 5 meters with an impressive 358 parts per million (ppm) of uranium equivalent at a depth of 88 meters. This figure includes significant peaks of 2 meters at 643 ppm and 1 meter at 814 ppm, recorded at depths of 89 meters. These findings indicate that the project may hold substantial potential.

Warrick Clent, Managing Director of Connected Minerals, related the recent results to earlier findings from Bannerman Energy’s Etango Uranium Project back in 2006, remarking on the parallels between the two projects. Bannerman reported significant interceptions, including 65.7 meters at 295 ppm and 34 meters at 479 ppm. It is noteworthy that Bannerman’s Etango Project is now fully permitted and moving towards construction, which adds to the potential market for uranium in the region.

Clent commented on the encouraging prospects of the Etango North-East, situated close to Bannerman’s project. He highlighted the fact that Bannerman’s project has amassed a considerable resource, stating, “Bannerman’s Etango has gone on to host a massive resource of 429 million tonnes @ 225 ppm uranium oxide, which is certainly a great target for us at Connected to aspire to.”

As for future endeavors, he shared that planning for a follow-up drilling and exploration program is already underway. Initially intended to cover 2,600 meters across 13 holes, Connected’s efforts expanded following the discovery of “strong geological indicators” near the trenching area, prompting two additional holes to be drilled.

The company indicated that mineralization remains open at varying depths and along the strike, which leaves doors open for more exploratory actions. Attention will now turn to significant anomalies previously identified at the Pandula and Onkumbwa prospects located to the south of phase-one drilling. Further plans include extensional and infill drilling at the Ondapanda Prospect and assessing new potential targets in southern areas.

Currently, Connected Minerals is dedicated to exploring and potentially developing its portfolio of projects within Namibia and Western Australia, demonstrating a commitment to the mining sector in these resource-rich regions.

In summary, Connected Minerals has announced promising results from its recent drilling program at the Etango North-East Uranium Project in Namibia, returning notable uranium grades in the majority of its holes. With comparisons drawn to Bannerman Energy’s nearby project and plans for future drilling in place, the company seems poised for further exploration and development. Continuing to identify strong mineralization will be crucial as they set the stage for coming endeavors.

Original Source: mining.com.au