Connected Minerals Plans Next Steps After Promising Uranium Drill Results
Connected Minerals has completed a successful drilling program at its Etango North-East Uranium Project in Namibia, discovering potentially economic uranium grades in 14 of 15 holes. Following these encouraging results, the company plans further exploration and drilling phases. Notably, previous work by Bannerman Energy in the area provides a strong benchmark for Connected’s future ambitions.
Connected Minerals (ASX:CML) is gearing up for another exploration phase at its Etango North-East Uranium Project in Namibia. This follows the company’s successful maiden drilling program which uncovered potentially economic uranium grades across a significant number of holes. With a market capitalization of $11.4 million, Connected has completed a 15-hole drill campaign, totaling 2,688 meters, finding noteworthy grades in 14 of those.
Among the highlights of the recent drilling is a notable interval of 5 meters at 358 parts per million (ppm) uranium equivalent starting at 88 meters depth. This includes higher assays of 2 meters at 643ppm and a peak of 1 meter at 814ppm from 89 meters, showcasing the promising potential at the site. Managing Director Warrick Clent expressed that these results align with earlier findings from Bannerman Energy (ASX:BMN) at their neighboring Etango Uranium Project, which has been a benchmark in the region.
Bannerman’s project reported significant interception during its initial drilling, such as 65.7 meters at 295ppm and other impressive grades, laying the groundwork for expectations in uranium exploration. The Etango Project has developed into a substantial resource with 429 million tonnes grading 225ppm uranium oxide, making it a target for Connected Minerals as they further explore.
Clent further elaborated on the company’s strategic planning, stating, “We have already commenced planning our phase-two drilling and exploration program at Etango North-East which we will advise the market about in due course.” Originally, the maiden drilling program was intended to cover 2,600 meters across just 13 holes, but the compelling geological indicators observed led the team to extend it by drilling two additional holes.
The mineralization at the Etango North-East Project remains open at depth and along strike, suggesting further exploration could yield more favorable results in the future. The company is now setting sights on the major anomalies recently identified through fieldwork at the Pandula and Onkumbwa prospects, situated south of the initial drilling sites. Plans for more infill and extensional drilling at the Ondapanda Prospect and new targets further south are also in the pipeline.
Connected Minerals remains dedicated to the exploration and potential development of its mining projects not only in Namibia but also in Western Australia. This new exploration stage might lead to a significant leap in resources for the company, potentially mirroring the success seen by Bannerman Energy.
In summary, Connected Minerals has successfully completed its first drilling program at the Etango North-East Uranium Project, striking potentially economic uranium grades across nearly all tested holes. The company is preparing for further exploration phases, eyeing new targets that may add substantial depth to its resource portfolio. The future of uranium mining in this region seems promising, with efforts underway to capitalize on the geological potential nearby Bannerman’s established project.
Original Source: mining.com.au
