Madison Metals and an undisclosed vendor have agreed to extend the closing of the Khan project agreement, which covers mining licence (ML) 86A and exclusive prospecting licence (EPL) 8905 in Namibia.
According to Madison Metals, ML 86A and EPL 8905 are key strategic licenses to expand their land holdings around producing uranium mines in the Erongo.
The two licenses form a contiguous land package of 7.86 km2 immediately southwest of the Rössing mine.
“Results from our initial ground prospecting survey are extremely encouraging and will be released once all the data has been fully analyzed. We look forward to continuing to advance our regional-scale portfolio in Namibia’s highly prospective Erongo province,” Madison Metals CEO and Executive Chairperson, Duane Parnham said.
Madison Metals has already made advanced payments of US$125,000 towards the final closing price of the Khan project transaction.
The company is confident that the extension of the Khan project agreement will allow it to further advance its exploration and development activities in the region.
Madison Metals is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada.
