Moab is validating historical results while looking towards its own maiden resource. Pic: Getty Images
Moab moves on verifying Tanzanian uranium mineralisation
Mining
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- 110 core holes in the books with assays expected as soon as this month
- Imminent expanding acquisition looked at for further upside for maiden resource
- Net zero ambitions and trade tit for tat adds to African uranium intrigue
Special Report: Moab Minerals has finished drilling 110 core holes and downhole gamma logging at its Manyoni uranium project in the namesake province of Tanzania.
The 1608m 110 hole tight target campaign, testing shallow, flat lying uranium mineralisation in palaeochannels, is directed at validating historic drilling results, and identifying the types of mineralisation based on metallurgical testwork. This information is directed towards a maiden JORC resource next year.
The first batch of core samples from 51 holes has now been submitted to an International Organization for Standardization-certified lab in South Africa for assay.
A second batch from the remaining 59 holes is also being prepped for shipment, while other work including metallurgy remains in progress.
Moab Minerals (ASX:MOM) managing director Malcolm Day said the first batch of assays is now expected as soon as this month as the company looks towards expansion.
“The acquisition of additional surrounding tenements from AuKing, (expected to be completed in the March 2025 quarter), which contain three uranium projects known as E, F and G, adds significant upside potential to Manyoni,” Day said.
“We’ll now look at expanding the drill program in 2025 to evaluate the resource potential of these new tenements.”
Tanzanian target
Extensively explored through the 2010s, a decline in nuclear activity had the tenements sitting idle until Moab’s move on what it considered an underappreciated asset.
There is little doubt uranium will play a key part in the global transition to net zero, and a US vs Russia trading tit for tat is seen as further enhancing the opportunity of African uranium.
Reforms to Tanzanian mining law in 2017 and 2019 aimed at creating a friendlier investing environment added further upside with a supportive government in a historically stable jurisdiction.
The acquisition of the AuKing Mining (ASX:AKN) tenements will mark consolidation of the Manyoni deposits for the first time in a decade.
Moab intends on releasing its maiden resource, after validation drilling and testwork across the new tenements, towards the end of 2025.
This article was developed in collaboration with Moab Minerals, 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.
