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Madison Metals Uranium Projects Awarded Namibian Environmental Clearance Certificate, Drilling Program Preparations Underway
TORONTO, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) is pleased to announce that it has been a
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[{"type":"text","content":" TORONTO, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) is pleased to announce that it has been awarded an Environmental Clearance Certificate (“ECC”) by the Namibian Ministry of Environment, Fisheries and Tourism (“MEFT”) for Exclusive Prospecting Licences 8531 (“EPL-8531”) and 8115 (“EPL-8115”) (collectively referred to hereafter as the “Properties”). The issuance of the ECC is underpinned by the submitted and approved Environmental Impact Assessments (“EIA”) and Environmental Management Plans (“EMP”). The ECC is valid for a period of three years, ending on October 18, 2025. The ECC authorizes Madison to commence exploration activities including extensive reverse circulation (RC) and Core drilling in the new year on the Properties, marking the start of an exciting phase of exploration and discovery for the Company. EPL-8531 and EPL-8115 are located in the renowned Erongo Uranium Province of Namibia, Africa and are within trucking distance of the Rössing (ML28) and Husab (ML171) mines (Figure 1). The properties host favourable geology for granite-hosted uranium deposits. EPL-8531 highlights Located 50 km west of the Rössing Uranium Mine Characterized by numerous faults, synforms and antiforms, as well as units of the Chuos, Arandis and Karibib Formations, resulting in a favourable structural and geological setting for granite-hosted uranium deposits Historical drilling over two targets totalled 3,720 metres of RC drilling from 50 drill holes Historical Inferred Mineral Resource Estimate by SRK Consulting (UK) Limited of 15.6 Mt grading at 260 ppm U3O8 for a contained metal total of 9.0 Mlbs U3O8* Drill-ready targets with a substantial drill program planned for 2023 EPL-8115 highlights Located 18 km southwest of the Rössing Uranium Mine Relatively under-explored Favourable geology (basement rocks intruded by leucogranites), which coincides with airborne radiometric anomalies Figure 1: Location of EPL-8531, EPL-8115 and other Madison licences in the Erongo Uranium Province. * As reported in the Madison news release dated September 19, 2022: “In 2015, drilling over two of the targets totalled 3,720 metres of reverse circulation (RC) drilling from 50 drill holes. Based on this drilling, SRK Consulting (UK) Limited (“SRK”) prepared an initial Mineral Resource ...