Perth, Australia – 7 November 2024 | C29 Metals Limited (ASX:C29) (“C29” or “the Company”) is pleased to announce that it has received a Category 2 environmental permit from Kazakhstan’s Natural Resources and Environmental Management Department, allowing the Company to commence its initial diamond drilling program at the Ulytau Uranium Project. The Company also recently signed a Memorandum of Understanding (MOU) with Volkov Geology, a subsidiary of Kazatomprom, Kazakhstan’s national uranium producer.
Highlights:
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Category 2 Environmental Permit: The Company has received approval for its drill permit, enabling the start of its exploration activities at the Ulytau Uranium Project.
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Strategic Partnership: C29 is at an advanced stage of finalising a commercial agreement with Volkov Geology to support the drilling operations, bringing valuable expertise and resources to the Ulytau Uranium Project.
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Drilling Strategy: The initial drill program will target key areas with high geological confidence, extending planned drill holes to depths of 500m to verify historical data and explore the mineralised trend, which is believed to be part of a larger multi-element geological system.
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Community Engagement: C29 has strong community support in the nearby village of Aksuyek, where its geological team has established a base of operations, further reinforcing the positive operating environment in Kazakhstan.
Shannon Green, Managing Director of C29 Metals, commented: “It is very exciting to have the official environmental permit enabling our team to commence the initial diamond drilling program this season. Obtaining this permit so quickly after receiving official notification that all regulatory requirements for the issue of the drill permit had been met once again demonstrates the positive operating environment in Kazakhstan and the support the company is enjoying”.
Drilling Program Overview:
The initial diamond drilling program will focus on verifying historical intersections, targeting high-priority zones within the Ulytau tenement. Drill holes are planned to depths of 500m to test the mineralisation and confirm the presence of a larger geological structure. C29’s team will utilise a handheld XRF unit in the field for real-time analysis, enabling the prioritisation of samples for assay.
Shannon Green
Managing Director
[email protected]
Dayna Louca
Investor and Media Relations
[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.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]