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Madison Metals Drilling Confirms High-Grade Uranium at Khan Project in Namibia, Africa
TORONTO, June 24, 2024 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that i
About this update from Critical One Energy Inc.
[{"type":"text","content":" TORONTO, June 24, 2024 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that it has completed its maiden drill program of nine holes (997m) of Reverse Circulation (RC) drilling at its Khan Uranium Project at Madison West, located in Namibia’s Central Erongo Uranium province, and confirmed high-grade uranium deposits. Uranium mineralization was successfully intersected at depth in six of the nine drill holes. The most significant observations during the Company’s chip logging include: Elevated pXRF* readings from chips with a maximum value of 1.54% U3O8 Multiple mineralized zones intersected included a 15-metre (m) mineralized zone averaging pXRF 0.3% U3O8 Fresh mineralized D-type leucogranite characterized by smoky quartz Uranium mineralization at depth in six drill holes The recent nine holes confirm Madison’s geological expectations and logging has confirmed that uranium-bearing D-type alaskites have intruded the Khan group which is comprised of calc-silicates, quartzites and schists at depth. “We are excited and encouraged by the results of our maiden drill program, having successfully intersected uranium mineralization at depth in six out of the nine holes drilled. This achievement marks a significant step forward in our exploration program,” says Dr. Roger Laine, a Director of Madison and geological engineer with 40+ years of expertise in advanced mineral exploration projects. “The confirmed stratigraphic level on the property provides the ideal conditions for high-grade alaskite-hosted uranium mineralization similar to that at the Rossing and Husab Mines in Namibia.” The drill holes targeted various previously identified uranium-bearing outcrops along the 12-kilometre Anomaly 5 target. The holes were drilled to determine the sub-surface extension of high-grade uranium mineralization, both laterally and at depth. Uranium mineralization was intersected in six of the nine drill holes, with logged yellow product observed over the highest-grade intervals. Figure 1: Location of the drill holes and significant observations KM5RC001 was drilled to intercept mineralization between the surface Trenches KM5TR001 and KM5TR002. The drill hole intercepted a 3m mineralized alaskite starting at 19m below surface. Two holes (KM5RC003 and KM5RC007) were drill...