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Exploration|PROJECT|Proximity|Testing
Exploration|PROJECT|Proximity|Testing
exploration|project|proximity|testing

Star Minerals shareholders approve Namibia project earn in

9th December 2024

By: Tasneem Bulbulia

Deputy Editor Online

     

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Shareholders of ASX-listed Star Minerals have approved the Cobra uranium project earn-in, in the Erongo region of Namibia, at a general meeting held on December 6.

Earlier this month, Star announced that it had entered into a binding agreement with Canadian-listed Madison Metals for an earn-in and joint venture to acquire up to 51% of the company holding exploration permit EPL 8531, comprising the Cobra uranium project, which is located in close proximity to the Rössing uranium mine.

Ground radiometric surveys completed by Madison have identified a continuation of the Area 3 mineralisation.

Madison has submitted and obtained approval to drill an initial six drill holes, testing for further uranium mineralised alaskites.

“Star is excited following shareholder approval obtained last week, allowing the company to earn into the Cobra uranium project with Madison,” says chairperson Ian Stuart.

The exploration team has reviewed drill planning to begin further exploration activities at the project to progress towards resource definition.

The project has permits in place to drill immediately and the evaluation of the strike potential and twinning some of the existing holes which make up the foreign uranium estimate are expected to form early work programmes at the project, he informs.

“Star will liaise closely with Madison’s in-country team to get the first programme under way, subject to completion of the conditions precedent of the earn-in. Star looks forward to updating its shareholders as the transaction progresses,” Stuart says. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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