Madison Metals plans a new and extensive Phase II drilling program to define and expand the uranium resource at the Khan Uranium Project.
The maiden 2024 drill program commenced at the Khan Project on May 22, 2024.
The Ministry of Mines and Energy of Namibia granted a license for base and rare metals, industrial minerals, and nuclear fuels for EPL-8905, which lies at Madison West within mining license 86A, early this month.
The same license area hosts the Khan Copper Mine.
The company announced that the downhole probe and chemical results from the maiden drill program confirmed subsurface zones of uranium connected to high-grade surface results.
The intersected grades are comparable to the average U3O8 grades at Rossing (330 parts per million) (ppm), Husab (500 ppm), and development deposits, including Forsys Metals’ Valencia Main (136 ppm), Deep Yellow’s Omahola (190 ppm), and Bannerman’s Etango (220 ppm).
Nine reverse circulation (RC) drill holes were completed, totalling 997 m, under the company’s maiden drill program; the drilling aimed to confirm the subsurface continuation of the strange surface radiometric readings and trench sampling assays.
The drilling covered only the southern portion of Anomaly 5.
The northern portion, which returned a 1 m interval of 84,700 ppm from KM5TR006, remains undrilled due to accessibility challenges.
