- Madison Metals (CSE:GREN) reports downhole probe and chemical results from the maiden drill program confirming subsurface zones of uranium are connected to high-grade surface results at the Khan Uranium Project in Namibia
- Uranium was confirmed by drill testing along 590 metres across a 1,000-metre mapped area
- The company is now planning for a Phase II drilling program to better define and expand the uranium resource
- Shares of Madison Metals are up 3.23 per cent to C$0.16 as of 9:29 am ET
Madison Metals (CSE:GREN) has reported downhole probe and chemical results from the maiden drill program confirming subsurface zones of uranium are connected to high-grade surface results at the Khan Uranium Project in Namibia.
The company stated in a news release that uranium was confirmed by drill testing along 590 metres across a 1,000-metre mapped area.
Madison Metals stated the project shows signs of having all the characteristics of an alaskite-hosted uranium project.
At least nine reverse circulation drill holes were completed for a total of 997 metres during the company’s maiden drill program.
The goal was to confirm the subsurface continuation of the anomalous surface radiometric readings as well as trench sampling assays. The company stated that only the southern portion of Anomaly 5 was covered by the drilling, while the northern portion remains undrilled because of accessibility challenges.
Madison Metals added that its team is now using the probing and geological data to define the geometry of the targets to identify what the next targets will be.
Madison Metals has its headquarters out of Toronto and is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada.
Shares of Madison Metals Inc. (CSE:GREN) are up 3.23 per cent to C$0.16 as of 9:29 am ET.
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(Top image of a close-up of uranium ore, generated: Adobe Stock)