Madison Metals Inc. has announced the extension of Exclusive Prospecting License 7011 (EPL-7011) in the Madison North project area, which is next to the world-famous Rössing Uranium Mine in Namibia’s famed Erongo uranium province. Madison’s portfolio benefits from this renewal because the company owns an 85% stake in EPL-7011, which is located in a well-known uranium belt.
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EPL-7011 bolsters Madison’s strategic land positioning and there is an NI 43-101 technical report, affirming the license’s potential for uranium deposits. This report, alongside the renewal and the previously obtained Environmental Clearance Certificate, underlines Madison’s commitment to responsible exploration and development.
Duane Parnham, Executive Chairman and Chief Executive Officer, Madison Metals Inc.
He added, “The strategic renewal of EPL-7011, supported by an NI 43-101 technical report, aligns with our focused approach in maintaining and expanding our presence in this uranium-rich area. Our current efforts are centered on strategic exploration and drilling for potential deposit expansions on adjoining concessions.”
Madison Metals maintains its cautious approach, ensuring that exploration and development efforts are consistent with environmental stewardship and stakeholder value. The company is committed to strategically advancing its uranium assets with the goal of increasing shareholder value through prudent and environmentally aware exploration.
The renewal of EPL-7011 comes on the heels of the successful transfer of Exclusive Prospecting Licences 8531 (EPL-8531) and 8115 (EPL-8115) to PennyWort Investments (Pty) Ltd, which is held by Madison (85%) and the company’s Namibian partners (15%). Madison’s news release dated June 6th, 2023 showed the EPL-8531 and EPF-8115 license transfers.
Source: https://madisonmetals.ca/