Connected Minerals Limited (ASX:CML) Updates Etango North-East Project
Exploration Programme Completion
Connected Minerals Limited (ASX: CML) has announced the completion of its maiden exploration programme at the Etango North-East Project in Namibia. The exploration activities initiated in late October 2024 have confirmed high-grade uranium mineralisation, prompting the company to extend the exploration efforts.
Rock chip samples have indicated significant uranium readings, including a notable 2,086 ppm U3O8 from sample CMRS4. The exploration effort also included trenching activities, geological mapping, and drone surveys to provide accurate stratigraphic data for future drilling operations.
Key Highlights
The exploration programme entailed the collection of 23 reconnaissance samples and 130 new rock chip samples, confirming the presence of high-grade uranium. Additionally, a scintillometer survey covering 25m x 10m was completed, accumulating over 13,000 readings.
Managing Director and CEO, Mr Warrick Clent, expressed satisfaction with the results, stating, “This initial exploration at our flagship asset has delivered some very promising results. We eagerly await the remaining results to identify drill targets for our maiden drilling, expected in Q1 2025.”
Future Outlook
Remaining rock chip results are due in mid to late January. These will be critical for finalising the drill targets for the anticipated drilling campaign at Etango North-East. The company looks forward to leveraging the promising initial findings to enhance its exploration efforts going forward.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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