Madison Metals Inc.
Namibian Projects.
MINING IN NAMIBIA.
The country hosts significant uranium mines and projects at various stages of development and accounts for approximately 8% of the world’s uranium production. In 2021, Namibia produced approximately 9.6 million pounds of U3O8.
Namibia is a mining friendly jurisdiction, and the uranium mining opperators have built excellent infrastructure to support mining activities including a seaport, airport, well-established road network, water and power. In addition, mining accounts for 25% of Namibia’s income.
Madison is committed to top-level mining practices that will surpass country guidelines to minimize environmental impact. Madison’s desert location means the company will not relocate communities, wildlife or destroy large amounts of vegetation.
Madison Metals Inc.
Mining Licence Property, ML-121.
Mining license in place
Contract signed to earn 24% in ML-121
Six (6) diamond drill holes and 59 reverse circulation drill holes completed along a 2.5km radiometric anomaly
Madison undertaking an independent review and verification of the data to define an NI 43-101 compliant resource
CURRENT MINING IN NAMIBIA.
Started commercial production in
1976
46 years operation form open pit mining and acid leach recovery process
World supply of a 140,026t U3O8
Capacity to produce 4,500t U3O8 per year
Pit currently measures 3 km by 1.5km and is 390m deep
Owned by China National Uranium Corporation Limited after sale of Rio Tinto 68.2% interest in 2019
Reserves reported 2018 at 23,810t U3O8 at 0.033% providing mine life to 2025
Husab Uranium Mine.
Development started February 2013 and commenced brief commercial production 2016 with 192t U3O8
Estimated 15 year mine life from 2 pits producing 5500t U3O8 per year
Reserves/resource figures reported at 188,000t with average grade 0.035% U3O8
Contiguous to Rössing mine
Currently trucking ore to Rössing for processing and drilling for shallow minable resources
