Connected Minerals Initiates Uranium Drilling at Etango North-East Project

Connected Minerals has initiated its first drilling program at the Etango North-East Uranium Project in Namibia, focusing on high-priority targets identified from previous sampling results. The drilling plan includes 36 holes and spans 3,050 meters. CEO Warrick Clent expressed optimism about the exploration efforts, noting the strategic importance of Namibia in the global uranium market, with rising demand projected for the coming years.

Connected Minerals (ASX:CML) has launched its inaugural reverse circulation reconnaissance drilling program at the Etango North-East Uranium Project located in Namibia. This drilling effort, commissioned to Hammerstein Drilling, will initially concentrate on high-priority targets that emerged from a rock-chip sampling program conducted in December 2024. The program encompasses 36 reverse circulation holes, amounting to a total of 3,050 meters, with 2,600 meters allocated for Etango North-East and 450 meters designated for Swakopmund (EPL 9162).

In light of promising results, Connected Minerals has broadened its drilling strategy at Etango North-East, with plans to subsequently direct activities towards Swakopmund based on findings from a recent horizontal-loop electromagnetic (HLEM) survey. CEO Warrick Clent expressed optimism regarding initial exploration efforts, stating that the drilling intends to deepen the understanding of uranium potential across both sites. Positioned strategically near the Rössing Mine, which is primarily owned by Chinese interests and yielded around 6.4 million pounds of uranium in 2024, Connected Minerals occupies a vital land area in Namibia, a leading global uranium producer.

Namibia ranks as the world’s third-largest uranium producer, representing approximately 7% of global uranium reserves and supplying 11% of the world’s uranium in 2022. The demand for uranium is anticipated to escalate from 95 kt in 2024 to 105 kt in 2025, primarily due to the ongoing expansion of nuclear energy generation in nations such as China and India. Furthermore, uranium supply is projected to increase, targeting 97 kt by 2030, an upsurge from 78 kt in 2024, as production ramps up at existing mines and new operations become active. Notably, Namibia’s Husab and Rössing mines were cited among the globe’s top ten uranium producers in 2022, contributing 7% and 5% of the worldwide uranium output, respectively.

In summary, Connected Minerals has embarked on an important drilling initiative at its Etango North-East Uranium Project in Namibia, backed by promising preliminary exploration results. The company’s strategic position within a key uranium-producing region reflects a commitment to enhancing the understanding of uranium potential at both Etango North-East and Swakopmund. With global uranium demand expected to rise, this endeavor is well-timed to take advantage of increasing market opportunities.

Original Source: www.finnewsnetwork.com.au