Connected Minerals Achieves Uranium Milestones in Namibia

• Connected Minerals has completed a successful maiden drilling program at Etango North-East in Namibia.
• Fourteen out of fifteen holes drilled returned economic uranium grades, indicating strong potential.
• Standout intercepts include high-grade uranium findings in several drill holes, noteworthy for their concentrations.
• Exploration continues at the Swakopmund project, with several paleochannels identified through geophysical surveys.
• A follow-up Phase 2 drilling campaign is already planned for the Etango North-East project.

Connected Minerals’ Drilling Program Produces Favorable Results

Connected Minerals Achieves Milestones in Namibia’s Uranium Exploration Connected Minerals recently marked significant progress in its uranium exploration efforts in Namibia. The company’s inaugural drilling program at the Etango North-East project has yielded multiple instances of stacked alaskites, a favorable sign for the prospective mineralisation in the area. Completing 15 reverse circulation (RC) holes, totaling 2,688 meters in depth, the exploration targeted high-priority zones that were previously identified through rock-chip sampling. Returning promising results, fourteen out of the fifteen holes showed economic uranium grades, which underscores the strong geological potential of this project as well as its resemblance to the neighboring Bannerman Energy’s Etango uranium project.

Exploration at Swakopmund Project Reveals Potential Anomalies

Major Discoveries Include High-Grade Uranium Intercepts Among the significant intercepts, standout results include a segment of 5 meters featuring 358 parts per million (ppm) uranium oxide from a depth of 88 meters, highlighted by an impressive 1-meter interval at 814 ppm. Additional noteworthy outcomes include 4 meters at 230 ppm from 47 meters and 3 meters at 312 ppm from 68 meters. Notably, mineralisation at the Etango North-East remains open both at depth and along strike, prompting the company to plan a follow-up Phase 2 drilling campaign. Meanwhile, exploration at the Swakopmund uranium project, referred to as EPL 9162, saw the completion of an additional 22 RC holes covering a total of 105 meters, targeting paleochannels identified by an earlier geophysical survey. This survey had uncovered several potential anomalies, including a notable 600-meter-wide corridor.

Anticipated Updates on Exploration Programs to Follow

Future Steps and Market Updates Anticipated Connected Minerals’ managing director and CEO, Warrick Clent, expressed enthusiasm regarding the developments at the Swakopmund project, asserting that they will assess the received results before proceeding with their next steps. As the company moves forward with its exploration programs, a further market update regarding the Phase 2 drilling at Etango North-East will be provided once final plans are established. This continuous pipeline of information is crucial for stakeholders as it provides insights into the company’s ongoing efforts to tap into Namibia’s substantial uranium potential, reinforcing the strategic importance of these projects in the growing resource market. Overall, Connected Minerals’ strong performance in these exploration initiatives bodes well for the future of uranium developments in the region.

In summary, Connected Minerals is making strides in its uranium drilling projects in Namibia, notably at the Etango North-East site where a majority of drill holes returned economic uranium grades. With future Phase 2 drilling planned, mineralisation at depth is open, keeping the company optimistic. Simultaneously, developments at the Swakopmund project are being closely monitored, with updates to be provided to investors after analyzing the results.