C29 Metals

Licence Application Granted for Ulytau Uranium Project

C29 Metals expands Ulytau Uranium Project with new tenement (~39km²), strong local support, and a Social Support Agreement signed. Exploration Approvals Advancing.

C29 Metals Limited (“C29” or the “Company”) is pleased to announce that its application for the northern tenement has been granted in 48 calendar days.


HIGHLIGHTS

  • C29 Metals has received notification that’s its application for the northern tenement for the Ulytau Uranium Project located in Kazakhstan has been granted.
  • The tenement granting process has been completed in 48 calendar days further demonstrating the efficiency of the Government agencies and their support for the Company’s activities.
  • The northern tenement sits to the north of the Ulytau Uranium Project tenement and immediately north of the historic Bota Burum Uranium mine.
  • The northern tenement is interpreted as having a similar mineralised trend to that of the existing Ulytau Project area1.
  • C29 Metals will immediately commence the exploration approval process for this new northern tenement.
  • The approval for the Company’s planned exploration drilling programs at the Ulytau Uranium Project is at an advanced stage & is on track.

The Northern application sits to the north of the Ulytau Uranium project tenement and immediately North of the historic Bota Burum Uranium mine. The Northern licence application area is ~39 km2.

The northern tenement is interpreted as having a similar mineralised trend to that of the existing Ulytau Project area1.

C29 Metals Managing Director, Mr Shannon Green, commented:

“Another very exciting step in executing our stated strategic plan for rapid growth with this highly prospective application being granted in such a rapid timeframe. Continuing to demonstrate the positive operating environment in Kazakhstan and the support the Company is receiving”.

Figure 1 below shows the interpreted mineralised uranium trend with the newly granted tenement.

Figure 1 – The interpreted mineralised Uranium trend with the new granted tenement.

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 19912.

Total mined reserves of Bota Burum are quoted at 20,000 tonnes of Uranium (44 million pounds)2,3.


Click here for the full ASX Release

This article includes content from C29 Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

C29:AU
C29 Metals

C29 Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
C29 Metals

C29 Metals


Keep reading...Show less

Uranium exploration in top producing, mining-friendly jurisdiction of Kazakhstan

New Age Exploration Limited

NAE Commences Maiden RC Drilling at the Wagyu Gold Project, Pilbara WA

New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to announce that Strike Drilling has mobilised to site with a Schramm T450 rig, and Reverse Circulation (RC) drilling has begun as of Sunday, 16 March 2025.

Keep reading...Show less
Power lines, stock chart and money symbolizing energy market growth.

Uranium Price Update: Q1 2025 in Review

Impacted by broad uncertainty, geopolitical risks and trade tensions, the spot U3O8 price fell 13.26 percent during Q1, starting the session at US$74.74 per pound and contracting to US$64.83 by March 31.

As factors outside the uranium sector forced spot price consolidation, long-term uranium prices remained steady, holding at the US$80 level, a possible indicator of the market’s long-term potential.

Although the U3O8 spot price hit nearly two decade highs in 2024, the sector has been unable to find continued support in 2025. Much uncertainty has been introduced this year by the Trump administration's on-again, off-again tariffs, which have infused the already opaque uranium market with even more ambiguity.

As volatility rattles investors, US utility companies have also been impacted by the threat of tariffs.

“There's a lot of speculation,” Per Jander, director of nuclear fuel at WMC, told the Investing News Network (INN) in a March interview. “I think the new administration is unpredictable, and I think that is by design, and (they are) obviously doing a very good job at that. But again, it has ripple effects for players in the market.”

Keep reading...Show less
Mineralisation structures Identified at North Sweden project

Mineralisation structures Identified at North Sweden project

Basin Energy (BSN:AU) has announced Mineralisation structures Identified at North Sweden project

Download the PDF here.

Canadian flag next to uranium ore.

5 Best-performing Canadian Uranium Stocks of 2025

Q1 2025 has been a turbulent time for the uranium market as long term demand fundamentals proved insufficient at combatting global economic uncertainty.

Following 2024’s impressive performance that saw U308 spot prices break through the US$100 per pound threshold, reaching a 17 year high, the first three months of 2025 have been punctuated with volatility.

Concern about the impact of potential US energy tariffs on significant uranium producer Canada added headwinds to uranium’s sails early on. As tensions between the US and its neighboring ally ratcheted up, U3O8 spot prices slipped lower, falling to US$63.44 in mid-March, a low last seen in September 2023.

Keep reading...Show less
Toro Energy (ASX:TOE)

Toro Energy


Keep reading...Show less
Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to announce that the Company has entered into an Ore Purchase Agreement ("Agreement") with Energy Fuels Inc. (NYSE American: UUUU) (TSX:EFR).

Western plans to commence hauling around the beginning of May, making deliveries to Energy Fuels' White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States. Deliveries will be sourced from previously mined production that has been stockpiled at the Company's flagship Sunday Mine Complex. The Agreement is for a one year period, and provisions for the delivery of up to 25,000 short tons of uranium bearing ore. The purchase price will be calculated based upon the uranium grade of each closed lot according to the agreed pricing schedule.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
AuKing Mining (ASX:AKN)

AuKing Mining


Keep reading...Show less
C29 Metals

C29 Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×