Madison Metals updates uranium assay results at Namibia project

The first 10 results released on 7 February 2024 included 8.47% U₃O₈ over 1 m in Trench 6 (KM5TR006). The new results from Trench 6 have expanded the anomalous width to 4 m grading an average of 2.78% U₃O₈. The assays confirm the surface continuity of mineralised alaskites at Anomaly 5, with uranium grades above 0.1% U₃O₈ identified across six of the seven sampled trenches.

The uranium mineralisation at the Khan Project is hosted in alaskites, similar to the Rössing deposit, 6 km to the northeast, which has been in operation since 1976. Alteration was instrumental in upgrading the nearby Rössing deposit and Madison believes similar processes have occurred at the Khan Project. Interestingly, roughly 40% of the ore at the Rössing Mine is this secondary mineralisation. It is worth noting that the Rössing Mine has an average grade of 0.033% U₃O₈ and has produced a total of 145 567 t of uranium oxide through to the end of 2022.

“We are extremely encouraged by this discovery and the high-grade uranium assays this area is generating,” said Duane Parnham, Executive Chairman and CEO, Madison Metals. “To date, we have traced extremely high-grade uranium mineralised alaskites at surface for over 800 m, and believe that a maiden drilling programme will identify similar type mineralisation at depth. Madison is directing its attention towards transforming that mineralised zone from possibility to reality.”

Read the article online at: https://www.globalminingreview.com/exploration-development/08032024/madison-metals-updates-uranium-assay-results-at-namibia-project/