C29 Metals has signed a social support agreement with the district government. Pic: via Getty Images.
C29 Metals eyes possible strike extensions with two new uranium licenses in Kazakhstan
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- C29 lodges two licences that could host same mineralisation as Ulytau uranium project
- Project contains non-JORC foreign estimate of 9.85M/lbs Uranium at 2790ppm
- Company is advancing drilling plans
Special Report: C29 Metals has lodged two new licence applications covering ~18km of prospective strike near the Ulytau uranium project in Kazakhstan.
The Ulytau project contains a non-JORC foreign estimate of 9.85M/lbs Uranium at 2790ppm, with multiple non-JORC foreign drill intersects >6,000ppm U308 from surface recorded.
Notably, Ulytau is around 15 km southwest of the Bota-Burum mine, one of the largest uranium deposits mined in the former Soviet Union, which reportedly had total mined reserves of around 20,000 tonnes of uranium (44 million pounds) from 1956 to 1991.
Combined, these new licences cover 252km² tenure that C29 Metals’ (ASX:C29) geologists have interpreted as potentially being in the same mineralised trend that hosts Ulytau – and may contain further high-grade uranium mineralisation.
Growing uranium footprint in the country
The Southern application (1905-EA) is contiguous with the Ulytau licence area, and sits immediately to the south and east of the project tenement boundaries.
The Northern application (1913-EA) sits to the north of the project tenement and immediately north of the historic Bota Burum uranium mine.
While the licences are pending, the approval process for the company’s planned exploration programs continues to advance.
“It is very exciting to have these highly prospective applications lodged as the company has been moving very quickly in accordance with its stated strategic plan to rapidly grow our prospective footprint in Kazakhstan,” Managing Director Shannon Green said.
“The fact that these applications are interpreted as potentially being in the same mineralised trend that hosts the high-grade Ulytau uranium project is extremely exciting for the company’s growth aspirations and our exploration programs moving into 2025.”
Green also noted that it’s pleasing to be receiving such positive support from the local community and key stakeholders, with the company signing a social support agreement with the district government, providing the framework for the company to assist the village of Aksuyek with projects aligned to the social development of the community.
This article was developed in collaboration with C29 Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
