- Highest reported individual chemical assay of 8.47% U3O8
- The average of the first 10 chemical assays is 1.33% U3O8
Madison Metals Inc. is pleased to announce a momentous breakthrough with the discovery of high-grade uranium mineralization at Anomaly 5, located within the Company’s Khan Project at Madison West in Namibia’s highly prospective Erongo uranium province. These remarkable findings, which include a surface sample of 8.47% U3O8, represent a significant expansion of new uranium mineralization, extending Madison’s footprint and project pipeline.
“Madison’s uranium discovery at Khan showcases a grade on par with renowned deposits in Niger and the Athabasca Basin, with distinct advantages: The Khan discovery is surface sampled, within trucking distance to an existing processing facility, on a licensed mining site, and requires minimal capital to expedite production,” said Duane Parnham, Executive Chairman & CEO, Madison Metals. “This strategic combination accelerates our path to generating immediate cash flow, reinforcing our commitment to shareholder value. The robust internal economic analysis, grounded in local expertise, positions Madison on a direct trajectory to becoming the next key player in the uranium market.”
Madison’s current exploration work follows the initial fieldwork to ground-truth airborne radiometric anomalies. The follow-up exploration activities consisted of seven (7) surface rock-saw trenches accompanied by leucogranite mapping, sampling, and handheld scintillometer and spectrometer readings at Anomaly 5. The initial batch of assay results of 10 samples (Table 1) returned encouraging high uranium grades.
