Battery metals explorer Askari Metals (ASX:AS2) has stepped into the uranium space with the acquisition of the Matemanga Uranium Project in southern Tanzania.
The project spans 264km-square and lies roughly 70km southeast of the ‘world-class’ Nyota Uranium Project, owned by Uranium One/ARMZ. Nyota hosts a resource estimate of 124.6 million pounds of contained uranium @ 306 parts per million (ppm) U3O8.
Askari, which is based in Western Australia, has taken control of the project through direct staking applications after conducting an ‘extensive’ review of available geological and geotechnical data that showcased Matemanga’s uranium exploration potential.
Askari Managing Director Gino D’Anna says the acquisition comes as part of the company’s move to expand its exploration strategy to include uranium, which has entered a major bull market over the past several months.
“We are well-positioned to execute high-impact, low-cost exploration campaigns in Tanzania, which is globally renowned as a low-risk, pro-mining jurisdiction which has been significantly under-explored.
An extensive review of available data by our African exploration team has identified a major radiometric anomaly, spanning 10km by 6km, which has not been further investigated before.”
Askari now plans to acquire all historical data from the Matemanga area, as well as high-resolution satellite imagery, ahead of a sequence of ‘low-cost’ exploration programs to generate drill targets at the project.
These programs will include a desktop research study into the local and regional geology of the area, a high-resolution sensing study, mapping and rock chip sampling, and ground-based radiometric survey work.
The Matemanga purchase comes in tandem with Askari’s appointment of Bertie Pepler as its in-house Uranium Exploration Specialist.
Askari says Pepler is a ‘vastly experienced’ South African geologist who has worked in the African mining and exploration industry for more than 4 decades.
“Excitingly, we have also expanded our in-country team, with Bertie Pepler joining our ranks, bringing a wealth of uranium exploration knowledge, with significant expertise in Tanzania.
I look forward to providing further updates as we progress the Matemanga Uranium Project,” D’Anna says.
Even as Askari enters into the Tanzanian uranium space, the company says it is continuing its exploration work across its Uis Lithium Project in Nambia, with all recent trenching, mapping, and channel sampling campaigns now complete.
This work revealed a ‘much thicker’ and ‘more extensive’ zone of lithium-caesium-tantalum (LCT)-type pegmatites at the OP target, according to Askari, and the company is expecting assays from the channel sampling work over the coming weeks.
These assays will help the company finalise a maiden diamond drilling program design for the project.
Write to Joshua Smith at Mining.com.au
Images: Askari Metals
