The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Category 2 Environmental Permit Received

by November 7, 2024
November 7, 2024
Category 2 Environmental Permit Received

C29 Metals Limited (ASX:C29) (C29, or the Company) is pleased to announce that it has received the official Category 2 environmental permit allowing drilling to be undertaken at the Ulytau uranium project with the Official permit received from the Natural Resources and Environmental Management Department.

HIGHLIGHTS

C29 Metals receives official drill permit, the Category 2 environmental permit from Natural Resources and Environmental Management Department.
The Company is pleased to advise that it is at a very advanced stage of finalising the commercial agreement with Volkov Geology and finalising the drilling contact.
Initial drilling will see several key strategic holes targeting the mineralisation with the highest geological confidence.
Obtaining the official permit in rapid time once again demonstrates the positive operating environment in Kazakhstan and the support the company is enjoying.

On the 28 October 2024, the Company announced the signing of an MOU with Volkov Geology, a 100% owned subsidiary of Katomprom the national & only Uranium producer in Kazakhstan.

Negotiations have continued and the Company is pleased to advise that we are at a very advanced stage of finalising the commercial agreement with Volkov Geology and finalising the commercial agreement with the independent drilling contractor.

As this initial program will be short in nature the drilling will see several key strategic holes drilled to test and verify the mineralisation in a small area of the Ulytau tenement. with final design of the initial drilling program at an advanced stage it is now planned to extend the initial diamond drill holes to a depth of ~500m. The greater depth is to test the area of highest geological confidence and to commence testing the geological theory that the mineralised trend is a part of a larger multi element geological occurrence.

The Company’s geology team has an established base of operations at the nearby village of Aksuyek where C29 enjoys strong community support.

C29 Metals Managing Director, Mr Shannon Green, commented:

“It is very exciting to have the official environmental permit enabling our team to commence the initial diamond drilling program this season. Obtaining this permit so quickly after receiving official notification that all regulatory requirements for the issue of the drill permit had been met once again demonstrates the positive operating environment in Kazakhstan and the support the company is enjoying”.

Diamond Drill Program

The initial diamond drill program has been designed to test and verify historical drill intersects and will see several key strategic holes drilled in a small area of the Ulytau tenement. With final design of the initial drilling program at an advanced stage it is now planned to extend the initial diamond drill holes to a depth of ~500m. The greater depth is to test the area of highest geological confidence and to commence testing the geological theory that the mineralised trend is a part of a larger multi element geological occurrence.

The geology team will be utilising a handheld XRF unit in the field providing real time geological information to the team and valuable geological data that will assist in prioritising the samples for assay.

Figure 1 below shows the interpreted mineralised uranium trend1 and location for initial Category 2 drilling.

Project Location and history

The Ulytau Uranium Project is located in the Almaty Region of Southern Kazakhstan approximately 15 km southwest of the Bota-Burum mine, one of the largest uranium deposits mined in the former Soviet Union. Exploration for uranium has been carried out in the area since 1953. Production of Uranium at the Bota Burum mine next to the village of Aksuyek commenced in 1956 and continued until 19911.

Total mined reserves of Bota Burum are quoted at 20,000 tonnes of Uranium (44 million pounds)1,2.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Bitcoin Price Hits All-time High as Trump Wins US Presidential Election
next post
Australia to legislate ‘world-leading’ social media ban for children under 16

You may also like

Metro Mining: Pure-Play Low-cost Producer of High-grade Australian...

Radisson Announces Fully Subscribed C$7 Million Private Placement

Justin Huhn: Uranium Price, Supply and Stocks in...

New Bridging Loan and Termination of Convertible Loan...

5 Experts Share Best 2024 Tips for Resource...

CleanTech Lithium PLC Submits Application for a Special...

Blue Lagoon Closes Final Tranche Of Financing –...

Trump Signs Sweeping Order to Slash Drug Prices,...

Forum Energy Metals and Global Uranium Announce Exploration...

Ramp Metals Announces Closing of Oversubscribed $4.9M Non-Brokered...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • US senators meet with Zelensky in Kyiv as doubt cast over upcoming...

    • Israel’s plan to ‘conquer’ Gaza is leaving Palestinians with little place to go: 5 maps show how

    • US calls for Asia allies to boost defenses in face of China’s ‘imminent’ threat, Hegseth tells top defense forum

    • Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain

    • Hunter Biden seen driving Toyota rental in South Africa after his Secret Service detail was terminated

    Categories

    • Business (1,673)
    • Investing (4,998)
    • Politics (7,837)
    • World (6,347)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top