What's Happening?
Connected Minerals has commenced a phase two reverse circulation drilling program at the Etango North-East Project in Namibia, focusing on the Ondapanda prospect. The program consists of 18 holes totaling 2,800 meters, following successful phase one results where 14 out of 15 holes returned economic uranium grades. The mineralization remains open at depth and along strike, indicating potential for further discoveries. The project covers 30 square kilometers and is near advanced uranium projects, reinforcing its strategic importance.
Why It's Important?
The continuation of drilling at Etango North-East highlights the potential for significant uranium discoveries, which could bolster Namibia's position in the global uranium market. This development is crucial for Connected Minerals as it seeks to expand its resource base and capitalize on the growing demand for uranium, driven by nuclear energy needs. Successful exploration could lead to increased investment and development in the region, benefiting local economies and contributing to energy security.
What's Next?
Connected Minerals is expected to analyze the results from the phase two drilling to determine the next steps in exploration and development. The company may consider further drilling or begin planning for resource estimation and feasibility studies, depending on the outcomes. Stakeholders, including investors and local communities, will be closely monitoring the progress and potential impacts on regional development.
