C29 Metals (ASX:CC29) anticipates signing a commercial agreement in the coming weeks after signing a memorandum of understanding with Kazatomprom (LSE:KAP) subsidiary Volkov Geology.
Kazatomprom is the national and only uranium producer of Kazakhstan.
Moving into 2025, C29 Metals anticipate that Volkov Geology’s scope of works will expand in particular into studies, geological modelling and resource estimation.
Volkov Geology will provide oversight and technical geological services in consultation and coordination with C29 Metals’ exploration manager for an upcoming drill program anticipated to begin in November 2024.
Its scope does not include the drilling and geophysical surveys of drillholes outlined for the initial 2024 drill program an independent drilling contractor will be appointed.
Volkov Geology manages all geological, study and drilling services for Kazatomprom. It is a major company in Kazakhstan with about 4,500 employees it is the largest driller in Kazakhstan by annual drill metres.
C29 Metals says Volkov Geology has a very deep uranium exploration and mining history dating back approximately 75 years and owns and operates certified laboratories and has the full technical capability in house.
The Kazatomprom subsidiary holds the permits required for the drilling and transportation of uranium and will ensure strict compliance with all regulations during the drilling program.
C29’s Ulytau Uranium Project is located in the Almaty Region of Southern Kazakhstan some 15km southwest of the Bota-Burum mine, one of the largest uranium deposits mined in the former Soviet Union.
Exploration for uranium has been carried out in the area since 1953. Production of uranium at the Bota Burum mine next to the village of Aksuyek commenced in 1956 and continued until 1991.
Write to Adam Orlando at Mining.com.au
Images: C29
