Perth, Australia – 13 November 2024 | C29 Metals Limited (ASX:C29) (“C29” or “the Company”) is pleased to announce it has received Category 4 exploration approval for newly-granted tenements at the Ulytau Uranium Project in Kazakhstan. As a regulatory milestone, this allows the Company to immediately begin comprehensive geological work, including airborne geophysical and ground-based surveys, across both of its tenement areas to the north and the south.
Highlights:
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Permit Granted: The Category 4 exploration permit allows C29 to commence geological activities, including field mapping, soil sampling, and airborne geophysics, excluding drilling.
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Airborne Geophysical Surveys: C29 has engaged Intrepid Geophysics to oversee the helicopter-borne survey, which will cover tenements EL1860 and EL2786. The survey will capture electromagnetic, magnetic, and radiometric data to improve targeting.
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Drilling Permit: Mobilisation for the initial diamond drilling program at the Ulytau tenement (EL1860) is set to commence by the end of this week.
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Community & Government Support: The Company has secured strong local support, underscored by a Social Support Agreement with the district government, ensuring that the project aligns with the social and economic interests of the local community in Aksuyek.
Shannon Green, Managing Director of C29 Metals, commented: “It is very exciting to have the Category four (4) exploration approval granted enabling our geology team to immediately commence both boots on ground and airborne field works. This once again demonstrates the positive operating environment in Kazakhstan and the support the company is enjoying”.
Next Steps:
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Airborne Geophysics: The helicopter-borne survey will capture high-resolution data for advanced processing using Intrepid Geophysics’ “Moksha” 2.5D inversion technique, offering detailed insights into subsurface geology.
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Initial Drilling: Following the setup, drilling will begin shortly, targeting high-priority areas to validate historical data and define new mineralised zones within the uranium-rich Ulytau tenement.
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2025 Expansion: Exploration activities on the northern tenement (EL2826) are planned for Q1 of 2025, building on findings from the initial survey phase.
Local Community Engagement:
The local community of Aksuyek, located approximately 20km from the Ulytau project, has shown strong support for C29’s initiatives. The signed Social Support Agreement sets a collaborative framework to assist the community with development projects, strengthening C29’s commitment to creating positive impacts in the region.
Shannon Green
Managing Director
[email protected]
Jane Morgan
Investor and Media Relations
[email protected]
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]