C29 Metals (ASX:C29) has been granted the southern tenement, covering 213km2, at the Ulytau Uranium Project in southern Kazakhstan.
The southern tenement is contiguous with the licence area and sits immediately to the south and east of the project tenement boundaries.
C29 Metals, which has a market capitalisation of $11.17 million, says this tenement granting process has been completed in 15 days, which shows the efficiency of the government agencies and their support for the company’s activities.
Managing Director Shannon Green says “it is very exciting to have this highly prospective application granted in such a rapid timeframe.”
“This is further demonstration of the positive operating environment in Kazakhstan and the support the company is enjoying,” Green says.
C29 Metals will immediately kick off the exploration approval process for this new southern tenement. The approval process for the company’s planned exploration programs at the project is at an advanced stage and is on track.
The Ulytau Project lies in the Almaty region, 15km southwest of the Bota-Burum mine, which is one of the “largest” uranium deposits mined in the former Soviet Union.
Write to Aaliyah Rogan at Mining.com.au
Images: C29 Metals
