Uranium behind $U
The resource team
Madison Metals is a publicly listed upstream unearthing and exploration company focused on sustainable uranium mining and production. Using cutting-edge technologies and modern strategies, Madison Metals is positioned to move advanced assets to market quickly. With over 50 years of mining experience and with 22 of those years in Namibia, Duane Parnham (founder Forsys Metals) and Dr. Roger Liane (formally Areva) have proven geological and financial expertise specifically developing uranium projects within the region.
Introduction
Authenticated Ownership
Madison Metals is identifying an extensive opportunity in the uranium friendly country of Namibia, holds immense potential for uranium mining, where over 200+ million pounds of material can potentially be acquired or extracted through drilling. One such significant opportunity is the Madison North project, which, according to a mineral resource estimate report conducted by SRK Consulting in 2015, contains a historical estimate of over 9 million lbs U3O8 within EPL8531 (formally EPL-3524 and EPL-3624). Madison North Project is 85% owned by Madison.
Adding to the strategic value, these projects are favorably located in close proximity and geologically connected to the Rössing and Husab Uranium operating mines. There is convenient access to essential amenities and infrastructure such as paved gravel roads, power, water, and even a nearby town all within a few kilometers of the project areas.
Strategic Growth
Madison's Uranium Expansion Journey
Madison has expanded its project footprint by signing agreements to acquire a substantial 90% interest in ML86A and EPL8905 along with a 24% interest in ML121 both registered mining licenses. These new properties are advantageously located adjacent to EPL7011 tying all projects together contiguously showing numerous untested uranium anomalies. This strategic positioning provides a robust expansion platform and a unique opportunity for comprehensive exploration and quick development.
The company has ambitious plans for these strategic properties and has earmarked them for extensive drilling programs scheduled to start in Q3 2023 to expand upon the known deposits, drill test new uranium anomalies and commence with economic development studies for mining operations.
Madison's Eco-mining For Global Uranium Demand
Namibia hosts several significant mines and projects in various stages of development. These mines contribute to roughly 8% of the global uranium production. In 2021 alone, the country was responsible for producing approximately 9.6 million pounds of U3O8. Namibia's mining-friendly jurisdiction has led to the creation of an excellent infrastructure network designed specifically to support mining activities. This network includes a fully functional seaport, airport, well-established roads, and essential utilities like water and power. Moreover, mining constitutes a substantial part of the country's economy, accounting for 25% of Namibia's income.
Within this framework, Madison has expressed its commitment to implementing top-level mining practices that not only adhere to but also surpass the country's guidelines to minimize environmental impact. The desert location of Madison operations within the current mining footprint allows for these commitments to be fulfilled without having to relocate communities or wildlife or destroy significant amounts of vegetation. This underlines the synergy between the country's dedication to mining and environmental consciousness, both of which contribute to Namibia's role in the global uranium market.
Strategic Proximity and Infrastructure Advantage - Madison North
The Madison North Project, as delineated in the Mineral Resource Estimate report EPL-3524 and EPL-3624 by SRK Consulting in 2015, enjoys a strategic location in the immediate vicinity of the renowned Rössing and Husab Uranium Mines. Further enhancing its operational viability, the site boasts convenient access via a well-paved gravel road, a secure power supply, readily available water resources, and a nearby township, all comfortably nestled within a few kilometers' radius.
Pioneering Legacy In Namibia's Landscape - The Rössing Mine
The Rössing Uranium Mine, located in Namibia, commenced commercial production back in 1976 and has been operating for over four and a half decades.
This long-standing operation makes use of open-pit mining, a surface excavation technique that allows the extraction of minerals from the earth by removing the soil and rock above it.
Over the years, the Rössing Uranium Mine has contributed significantly to the global uranium supply, providing a cumulative total of approximately 140,026 tonnes of Uranium Oxide (U3O8).
The mine's annual production capacity is approximately 4,500 tonnes of U3O8, which constitutes a sizable portion of the world's uranium supply.
The dimensions of the pit demonstrate the scale of the operation, with the pit currently measuring 3 kilometers long, 1.5 kilometers wide, and with a depth of 390 meters.
Modern Advancements In Namibian Mining - The Husab Mine
The Husab Uranium Mine in Namibia is a relatively recent development in the country's mining landscape. The development of this mine started in February 2013, paving the way for the initiation of commercial production three years later, in 2016. During its inaugural year of operation, it produced 192 tonnes of Uranium Oxide (U3O8).
This mine was designed with an expected lifespan of 15 years. The operation includes two separate pits that collectively aim to produce an annual output of approximately 5,500 tonnes of U3O8.
A resource and reserves report indicated that the Husab uranium mine holds an impressive quantity of 188,000 tonnes of uranium, which has 0.035% U3O8. This sizable reserve promises a steady yield throughout the mine's projected lifespan.
The Husab mine is located contiguous to the Rössing mine, which allows for a convenient exchange of resources and operational cooperation between the two sites.
Currently, the Husab mine is transporting its extracted ore to the Rössing mine for processing. This represents an efficient use of existing facilities and infrastructure, thereby maximizing the profitability of the mining operation.
Furthermore, the Husab mine is actively drilling for shallow minable resources, which suggests an ongoing effort to optimize its mining potential and further increase the efficiency of its extraction processes.