Madison Metals achieves renewal milestone for exclusive prospecting license 7011 at Madison North Uranium project in Namibia
Madison Metals Inc. is pleased to announce the renewal of Exclusive Prospecting License 7011 (“EPL-7011”) in the Madison North project area, adjacent to the globally acclaimed Rössing Uranium Mine in the renowned Erongo uranium province of Namibia, Africa. This renewal is significant for Madison’s portfolio as the Company holds an 85% interest in EPL-7011 and it is located in a well-known uranium belt.
“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,” says Duane Parnham, Executive Chairman and CEO of Madison Metals. “This report, alongside the renewal and the previously obtained Environmental Clearance Certificate, underlines Madison’s commitment to responsible exploration and development.”
Emphasizing the importance of this renewal, Parnham adds: “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 centred on strategic exploration and drilling for potential deposit expansions on adjoining concessions.”
Madison Metals continues its prudent approach, ensuring exploration and development activities are aligned with environmental stewardship and stakeholder value. The Company is dedicated to strategically advancing its uranium assets with a keen eye on creating shareholder value through judicious and environmentally conscious exploration activities.
The renewal of EPL-7011 follows the successful transfer of Exclusive Prospecting Licences 8531 (“EPL-8531”) and 8115 (“EPL-8115”) to PennyWort Investments (Pty) Ltd, which is majority-owned by Madison (85%) with the Company’s Namibian partners (15%). Please refer to Madison’s news release dated June 6, 2023 announcing the EPL-8531 and EPL-8115 license transfers.
