Madison Metals renews Exclusive Prospecting Licence at uranium project

This renewal is significant for Madison’s portfolio as the company holds an 85% interest in EPL-7011 and it is located in a well-known uranium belt.

“EPL-7011 bolsters Madison’s strategic land positioning and there is an NI 43-101 technical report, affirming the licence’s potential for uranium deposits,” commented Duane Parnham, Executive Chairman and CEO of Madison Metals. “This report, alongside the renewal and the previously obtained Environmental Clearance Certificate, underlines Madison’s commitment to responsible exploration and development.”

Emphasising the importance of this renewal, Parnham added: “The strategic renewal of EPL-7011, supported by an NI 43-101 technical report, aligns with our focused approach in maintaining and expanding our presence in this uranium-rich area. Our current efforts are centred on strategic exploration and drilling for potential deposit expansions on adjoining concessions.” Madison Metals continues its prudent approach, ensuring exploration and development activities are aligned with environmental stewardship and stakeholder value. The company is dedicated to strategically advancing its uranium assets with a keen eye on creating shareholder value through judicious and environmentally conscious exploration activities.

The renewal of EPL-7011 follows the successful transfer of Exclusive Prospecting Licences 8531 and 8115 to PennyWort Investments (Pty) Ltd, which is majority-owned by Madison (85%) with the company’s Namibian partners (15%).

Read the article online at: https://www.globalminingreview.com/mining/15112023/madison-metals-renews-exclusive-prospecting-licence-at-uranium-project/