Connected Minerals Confirms High-Grade Uranium Mineralisation at Etango North-East
CML (CML) Share Update November 2024 Sunday 17th
Connected Minerals Confirms High-Grade Uranium at Etango North-East
Connected Minerals Limited (ASX: CML) has announced promising results from its maiden rock chip sampling program at the Etango North-East Project in Namibia, confirming high-grade uranium mineralisation.
Instant Summary:
- High-grade uranium mineralisation confirmed at Etango North-East Project.
- Significant rock chip results include 2,086 ppm U3O8.
- Exploration program expanded following initial findings.
- Program led by Herbert Roesener, a veteran uranium geologist.
- Webinar to discuss results and future plans scheduled.
Initial Findings
Connected Minerals Limited has announced the results of its maiden rock chip sampling program at the Etango North-East Project in Namibia. The initial results confirm high-grade uranium mineralisation, with significant rock chip samples showing up to 2,086 ppm U3O8.
The sampling was conducted in an area historically noted for high uranium scintillometer readings, reaching up to 5,870 counts per second (cps), compared to a background average of 400 cps in the region. This area, covering 1km x 2.5km, is located along the same geological strike as Bannerman Energy's world-class Etango Uranium Project.
Program Expansion
Based on these promising results, Connected Minerals has decided to expand its exploration program. The extended program will include further rock chip sampling, a detailed scintillometer survey, trench sampling, and geological mapping to identify potential drill targets. The expanded program is expected to be completed by mid-December, with assay results to be reported as they become available.
Expert Leadership
The exploration efforts are being led by Herbert Roesener, a seasoned uranium exploration geologist with over 40 years of experience. Roesener's expertise is expected to guide the program towards successful target generation for future drilling.
Upcoming Webinar
Managing Director Warrick Clent will host a webinar to discuss the findings and future exploration plans. The webinar is scheduled for 7.30am AWST / 10.30am AEDT on 18 November 2024. Shareholders and interested investors are invited to register and participate in the Q&A session.
The confirmation of high-grade uranium mineralisation at Etango North-East is a significant development for Connected Minerals. This discovery positions the company favorably within the uranium exploration sector, potentially boosting investor confidence and interest in the company's stock. The expanded exploration program could lead to further positive results, enhancing the project's value.
Investor Reaction:
Analysts are likely to view the confirmation of high-grade uranium as a positive indicator for Connected Minerals' future prospects. The proximity to Bannerman Energy's established project adds credibility to the findings, potentially attracting more investor interest.
Conclusion:
Investors should keep an eye on the progress of the expanded exploration program and the results from further sampling and surveys. Connected Minerals' strategic approach and expert leadership could lead to significant developments in the coming months, making it a stock to watch in the uranium sector.