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Madison Metals detects high-grade uranium signatures at Khan Project

Madison Metals detects high-grade uranium signatures at Khan Project

By Freeman Ya Ngulu.

The Chief Executive of Canadian uranium minor, Duane Parnham indicated that his company has identified several promising anomalies in mining licence areas adjacent to the lucrative Rössing mine, and relatively close to the producing Husab mine.

The indicated area, ML86A lies around the south-western end of the Rössing mining licence area, and encloses the dissected EPL8905 which is the site of the now defunct Khan Copper mine.

A re-assessment of previous exploration data as well as surface sampling have indicated the existence of high uranium and uranium thorium anomalies, mostly restricted to the Khan River.

Using the geology of Rössing as a proxy, Parnham said in a statement that the proximity of both Rössing and Husab points to the existence of major uranium deposits in the area.

Due to the strong presence of uranium anomalies on the Khan Project, Madison announced the signing of an addendum agreement whereby cash payments made to date have secured an undivided 10% interest in the Khan Project. The balance aggregate payments due by 31 December 2024 will earn an undivided 90% interest.

“The mining licence area ML86A is underlain by a favourable geology for Rössing-type deposits in the Central Namib where units of the Damara Supergroup are intruded by uranium-mineralized alaskites.”

Madison exploration activities focused on the validation of untested airborne radiometric anomalies as well as understanding the geological setting and determining the continuity of mineralized deposits.

Based on the analysis of the airborne survey, several anomalies were detected adjacent to the Khan mine working and adits on EPL8905.

“The Khan Project is quickly becoming an extremely valuable asset to Madison, having huge potential for making new high-grade uranium discoveries sitting right next to two operating uranium mines,” Parnham said.

“Madison has deployed field personnel to perform channel sampling and chemical analysis across favourable high-grade uranium rocks and expand the ground survey to other targets at ML86A in advance of a planned 2024 drilling programme.”

Map of the mineral licences in the rich Erongo uranium district showing the location of ML86A, other Madison properties and current producing uranium mines, Rössing and Husab.


About The Author

Freeman Ya Ngulu

Freeman Ngulu is an investigtor, an author and a keen entrepreneur. His speciality is data journalism for which he loves to dig deep into topics often ignored by mainstream reporting. He tweets @hobameteorite.