Madison Metals Inc. has announced a breakthrough with the discovery of high-grade uranium mineralisation at Anomaly 5, located within the company’s Khan Project at Madison West in Namibia’s highly prospective Erongo uranium province.
These findings, which include a surface sample of 8.47% U3O8, represent a significant expansion of new uranium mineralisation, extending Madison’s footprint and project pipeline.
“Madison’s uranium discovery at Khan showcases a grade on par with renowned deposits in Niger and the Athabasca Basin, with distinct advantages: The Khan discovery is surface sampled, within trucking distance to an existing processing facility, on a licensed mining site, and requires minimal capital to expedite production,” said Duane Parnham, Executive Chairman and CEO, Madison Metals. “This strategic combination accelerates our path to generating immediate cash flow, reinforcing our commitment to shareholder value. The robust internal economic analysis, grounded in local expertise, positions Madison on a direct trajectory to becoming the next key player in the uranium market.”