Moab Minerals (ASX:MOM) has acquired four strategic uranium tenements adjacent to its Manyoni Uranium Project in Tanzania, through its wholly owned subsidiary, Katika Resources.
The acquisition of the tenements from AuKing (ASX:AKN) is subject to Moab shareholder approval for the consideration of the issuance of 62.5 million ordinary shares. Shareholder approval is expected in the June 2026 quarter.
Managing Director Malcolm Day says that the transfer of the four tenements is “an important step in consolidating a strategic uranium tenement holding with multiple exploration targets”.
“Moab is planning an active program in 2026, including metallurgical testwork on the Manyoni deposit and step-out drilling in the newly acquired tenements to verify historical drilling results.”
Historical drilling on the four tenements was focused on a series of palaeochannels that form part of a broader northwest trending palaeo-draining system in an area that is prospective for palaeochannel uranium deposits in central Tanzania.
Moab believes that this acquisition will enhance their ability to define additional uranium resources through step-out and validation drilling.
Moab will next prepare a shipment of core staples to a lab in Australia for metallurgical testwork and will commence drilling in the new tenements.
The company is planning for potential step-out drilling at high-priority targets at its Manyoni Uranium Project alongside validating drilling at the new tenements.
Moab is also planning for a maiden Mineral Resource Estimate for the four new tenements.
Moab Minerals is an exploration and project development company focused on the Manyoni Uranium Project in Tanzania.
Write to Amy Rotman at Mining.com.au
Images: Moab Minerals
