Madison Metals to Acquire Interest in Namibia Uranium Mining Licence

Madison Metals to Acquire Interest in Namibia Uranium Mining Licence

“ML121 and EPL-7011 are neighbours to Namibia’s two uranium-producing mines, Rössing and Husab, the world’s fifth- and third-largest producing uranium mines, respectively,” said Duane Parnham, Executive Chairman and CEO of Madison Metals. “The uranium outlook is continuing to strengthen because it is a critical metal for energy transition and energy security. Madison’s strategy of acquiring highly prospective concessions in a tier-one uranium jurisdiction provides the Company with an opportunity to establish itself as a key player in the uranium industry.” ML121

ML121, which contains the Charlie Drilling uranium occurrence, is located 46 kilometres (km) east-northeast of the city of Swakopmund spanning an area of approximately 35 km 2 . The mining license covers base and rare metals, dimension stone, industrial minerals, nuclear fuel minerals and precious metals.

ML121 has significant potential for leucogranite-hosted uranium mineralization given that its geological and structural setting bears a strong resemblance to the Rössing deposit, […]

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