Connected Minerals (ASX:CML) is advancing its Etango North-East Uranium Project in Namibia following a successful maiden drilling program. The 15-hole, 2,688m reverse circulation drilling program returned potentially economic uranium grades in 14 of the 15 holes. Highlights include 5m @ 358 parts per million (ppm) uranium equivalent from 88m, including 2m @ 643ppm and 1m @ 814ppm from 89m. The company, with a market capitalization of $11.4 million, is now planning its phase-two drilling and exploration program.
Managing Director Warrick Clent noted the results are comparable to initial findings at Bannerman Energy’s (ASX:BMN) Etango Uranium Project, located along strike from Connected’s project. Bannerman’s Etango project, boasting a resource of 429 million tonnes @ 225ppm uranium oxide, is fully permitted and currently under construction. Connected Minerals aims to emulate Bannerman’s success. Fieldwork will commence on the Pandula and Onkumbwa prospects, with further drilling planned at the Ondapanda Prospect and other potential targets to the south. The mineralisation at Etango North-East remains open at depth and along strike, suggesting further potential for resource expansion.
