Perth, Australia – 4 September 2024 | C29 Metals Limited (ASX: C29) ("C29" or "the Company") is pleased to announce that its application for the new northern tenement at the Ulytau Uranium Project in Kazakhstan has been granted. This is a significant expansion of the Ulytau Project area and demonstrates the supportive regulatory environment in Kazakhstan for the Company’s efforts.
Highlights:
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New Tenement Granted: The northern tenement, covering approximately 39 km2, has been granted 48 days after the application was originally lodged. The new area is located immediately north of the existing Ulytau Project tenement and the Bota Burum Uranium Mine.
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Exploration Potential: The new northern tenement is interpreted to have a similar mineralised trend to the existing Ulytau Project area, which adds to the project’s overall exploration potential.
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Exploration Approvals Developing: The Company is advancing the exploration approval process for this newly-granted northern tenement, with planned drilling at the Ulytau Uranium Project already at an advanced stage.
Shannon Green, Managing Director of C29 Metals, commented: “Another very exciting step in executing our stated strategic plan for rapid growth with this highly prospective application being granted in such a rapid timeframe. Continuing to demonstrate the positive operating environment in Kazakhstan and the support the Company is receiving”.
Project Location and History:
The Ulytau Uranium Project is located in the Almaty Region of Southern Kazakhstan, approximately 15 km southwest of the historic Bota Burum Mine location, one of the largest uranium deposits mined in the former Soviet Union. Exploration for uranium in this area has been ongoing since 1953. The total mined reserves at the Bota Burum Mine are estimated at 20,000 tonnes of uranium.
Next Steps:
C29 Metals will immediately commence the approval process for the new northern tenement, focusing on fast-tracking drilling programs to evaluate the full potential of the expanded Ulytau Project.
Shannon Green
Managing Director
+61 (0) 400 597 562
[email protected]
Dayna Louca
Investor & Media Relations
+61 (0) 409 581 972
[email protected]
About us:
About C29 Metals Limited:
C29 Metals Limited is an Australia-based company focused on the clean energy transition through the exploration and development of its portfolio of uranium and copper assets. The Company’s projects include Ulytau Uranium Project, Sampson’s Tank, Reedy Creek, Torrens Projects, Stadlers, Mayfield and Pocitos Lithium Argentina. Its Ulytau Uranium Project is located near Lake Balkhash in South Kazakhstan and situated over 15 kilometres (km) south of Bota-Burum mine. Its Sampson’s Tank covers over 93 square kilometres (km2), and lies within the high-grade base metal hotspot of the highly mineralized Girilambone District of the Lachlan Fold Belt, New South Wales. Its Reedy Creek Project is located in the Lachlan Fold Belt, within the Lachlan Transverse Zone (LTZ) and covers over 42 km2. The Torrens Project comprises over 1700km2 of granted tenements in the Gawler Craton in central South Australia. The 63 km2 Stadlers Project is located 60 km south of Paraburdoo in the Ashburton Basin.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]