The company conducted an extensive review of available geological and geotechnical data which identified the Matemanga project as a high-priority uranium project with significant exploration potential.
Commenting on the acquisition, Managing Director, Mr Gino D’Anna, stated:
“The Matemanga Uranium Project represents a significant exploration opportunity for Askari as we expand our exploration strategy to include high-value and in-demand uranium, in line with our clean energy mission.
We are well-positioned to execute high-impact, low-cost exploration campaigns in Tanzania, which is globally renowned as a low-risk pro-mining jurisdiction which has been significantly under-explored.
An extensive review of available data by our African exploration team has identified a major radiometric anomaly, spanning 10 km by 6 km, which has not been investigated before.
Strategically, the Matemanga project is located approximately 70 km south-east of the Nyota Uranium Project which boasts a resource of 124.6 million lb contained U3O8 at a grade of 306 ppm U3O8 and is located less than 220 km south-east of the Kayelekera Uranium Project which boasts a resource of 46.4 million lb contained U3O8 at a grade of 802 ppm U3O8.
Our focus is fast-tracking applications at the Matemanga Uranium Project, in close collaboration with our local Tanzanian partners, ahead of initial field sampling and radiometric surveying campaigns at this site.
I look forward to providing further updates as we progress the Matemanga Uranium Project.”
