Namibian Mining News The Professional Mining Journal
Related Articles
Canadian miner Madison Metals has unearthed promising signs of a significant uranium deposit at its Khan project in Namibia. This exciting development occurs after a drill hole (KM5RC003) intersects strong uranium mineralization over minable widths.
“This is a game-changer for Madison Metals,” enthused Duane Parnham, Executive Chairman and CEO, in a press release. “The readings from the chip samples are highly encouraging, with some exceeding 1.5% U3O8.”
The targeted drilling, angled at 55 degrees to the northeast, hit pay dirt after encountering four distinct uranium-rich D-type leucogranites, a rock formation known for its uranium bounty at the nearby Rossing mine. Spectrometer readings from core samples revealed impressive values, with some reaching as high as 1.36% U3O8 at a depth of 45 meters and a staggering 1.54% at 148 meters.
“These results are incredibly exciting,” commented Peter McIntosh, Chief Geologist for Madison Metals. “The mineralisation appears to be extensive, and we need further drilling to determine its exact size and form.”
While the initial analysis is promising, Madison is taking a cautious approach. The core samples will undergo rigorous geo-probing and chemical assays to confirm the exact uranium concentrations. Management remains tight-lipped until a full analysis is complete.
“We’re confident these assays will solidify our initial assessment,” said Parnham. “In the meantime, drilling continues in other promising areas, including TR004 and TR005, where surface samples already hinted at significant uranium potential.”
The discovery at TR003 has fueled further exploration plans for the area. This exciting development could position Madison Metals as a key player in Namibia’s flourishing uranium industry.
