Connected Minerals (ASX:CML) has secured an exclusive prospecting licence for its Swakopmund Project in a prolific uranium producing region in Namibia.
The Swakopmund Project, covering 125km2, demonstrates the potential for calcrete-hosted uranium deposits within paleochannels running off nearby hot granites.
Connected Minerals, which has a market capitalisation of $9.89 million, has already uncovered a series of prospective targets located in the central and southeastern areas of the licence.
The company’s exploration team have mobilised to site to begin exploration work to identify areas of potential paleochannel development, through a horizontal-loop electromagnetic survey. The survey will be conducted across zones previously flagged through remote sensing and on-ground reconnaissance work.
CEO Warrick Clent says Connected Minerals was granted the licence within the timeframes set out prior to the company’s readmission to the ASX.
“Swakopmund is now our second exploration licence in Namibia, joining Etango North-East where the team is eagerly awaiting the results of our expanded maiden sampling program, following the confirmation of high-grade uranium mineralisation in November 2024,” Clent says.
The Swakopmund Project is located along trend to Orano’s Trekkopje and Klein Trekkopje deposits, which host 340 million tonnes @ 140 parts per million triuranium octoxide.
Connected Minerals is an Australian explorer focused on the discovery and development of its portfolio of assets considered prospective for uranium and multi-commodities in Namibia and Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Connected Minerals
