MOAB Minerals

Quarterly Activities Report for the Period Ended 30 September 2024

Moab Minerals Limited (ASX: MOM) (Moab or the Company) is pleased to provide an overview of activities for the period ending 30 June 2024 (“Quarter” or “Reporting Period”).


Highlights:

  • Moab announced the completion of the acquisition of the Manyoni and Octavo uranium projects in Tanzania on 9 July.
  • Validation Drilling commenced at Manyoni in August and is expected to be completed in the December Quarter.
  • Objective is to verify Uranex’s historical drill results at Manyoni, obtain additional geologic and bulk density information, and carry out comprehensive metallurgical testwork to ascertain the optimum processing pathway for the project. This work will feed into a JORC 2012 compliant Mineral Resource Estimate to be followed by Scoping level or Pre-feasibility level mining studies in 2025.
  • Subsequent to the end of the Quarter (ASX:MOM 16 October 2024) Moab announced the acquisition of an additional four uranium tenements covering 488km2 which will be consolidated into the Manyoni uranium project.
  • At the REX uranium project in Colorado the Company is in the process of permitting an 18- hole drill program to follow-up the results of the 2023 drill program. The Company intends to seek a joint venture (JV) partner to drill the project.
  • Moab continues to monitor its 11.02% interest in CAA Mining Limited (CAA Mining), an exploration and development company focused on lithium and gold exploration in Ghana, Africa.
  • On 20 September Moab announced a $750,000 Director loan facility had been put in place to provide ongoing working capital.

Moab Managing Director, Mr Malcolm Day commented: “During the Quarter, we completed the acquisition of Linx Resources Pty Ltd that owns the Manyoni and Octavo uranium projects in Tanzania. This move is in line with the Company’s strategy to shift focus to uranium exploration in Africa. The task at hand is to verify the historical drill results and to test for extensions to known mineralisation through a step-out drill program. Moab announced the completion of the acquisition on 9 July. Validation Drilling commenced in August, which attests to the efficient approvals process in Tanzania. The Octavo tenement is more grassroots but is located in a highly prospective area adjacent to Rosatom’s world-class uranium deposit at Nyota.

In June 2023, Moab acquired an initial 14.64% (now diluted to 11.02%) interest in CAA Mining, an exploration and development company focused on lithium and gold exploration in Ghana, Africa. The board continues to monitor the exploration results from CAA Mining’s Ghanaian lithium projects.I would like to thank shareholders for their support to date and we look forward to providing further exploration updates.”


Click here for the full ASX Release

This article includes content from MOAB Minerals, 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.

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