Namibia’s Ministry of Mines and Energy has renewed Madison Metals’ exclusive prospecting licence (EPL) 7011 in the Madison North project area.
Madison holds an 85% interest in EPL 7011, which is adjacent to the globally acclaimed Rössing uranium mine.
“EPL 7011 bolsters Madison’s strategic land positioning, and there is a National Instrument (NI) 43-101 technical report affirming the licence’s potential for uranium deposits,” said Madison chairperson and CEO Duane Parnham.
Emphasizing the importance of this renewal, Parnham adds that the strategic renewal of EPL 7011, supported by an NI 43-101 technical report, aligns with the company’s focused approach to maintaining and expanding its presence in this uranium-rich area.
“Our current efforts are centered on strategic exploration and drilling for potential deposit expansions on adjoining concessions,” he said.
The renewal of EPL-7011 follows the successful transfer of Exclusive Prospecting Licences 8531 (“EPL-8531”) and 8115 (“EPL-8115”) to PennyWort Investments (Pty) Ltd, which is majority-owned by Madison (85%) with the company’s Namibian partners (15%).
Madison Metals Inc. is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada.
