{"id":10569,"date":"2024-06-05T03:43:53","date_gmt":"2024-06-05T03:43:53","guid":{"rendered":"https:\/\/economicherald.net\/?p=10569"},"modified":"2024-06-05T03:43:53","modified_gmt":"2024-06-05T03:43:53","slug":"mamba-adds-uranium-projects-to-its-athabasca-portfolio","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10569","title":{"rendered":"Mamba adds uranium projects to its Athabasca portfolio"},"content":{"rendered":"<p>Mamba (ASX:M24) signs binding term sheet to acquire four uranium exploration projects<br \/>\nThe acquisitions include the Black Lake South Project, which contains several targets for high grade unconformity style deposits at shallow depth<br \/>\nA cost-effective exploration plan is underway <\/p>\n<p>\u00a0<\/p>\n<p><strong>Special Report: Mamba Exploration has added four projects to its uranium portfolio in Canada\u2019s Athabasca Basin. <\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/mamba-exploration-m24\/\">Mamba Exploration (ASX:M24)<\/a> is harnessing the potential of the uranium sector\u2019s promising fundamentals with the acquisition of four uranium projects in Canada\u2019s high-grade Athabasca Basin.<\/p>\n<p>Yellowcake spot prices were sitting around US$50\/lb at the start of 2023 but have since jumped 80% to around the US$90\/lb mark, incentivising new uranium projects to come online and spurring the revival of left-for-dead uranium mines after a long, dark period for the industry.<\/p>\n<p>The move comes only five months after M24 snapped up 75% of the Canary project, 11km from IsoEnergy\u2019s (TSX-V:ISO) super high-grade Hurricane deposit, home to 48.61Mlb at 34.5% U3O8.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Four new uranium projects <\/strong><\/h2>\n<p>M24 says all four projects are strongly supported by significant radiometric uranium anomalies and the association with graphitic conductors via historical electromagnetic (EM) surveys by previous explorers.<\/p>\n<p>Among the acquisitions is the Blake Lake South Project, known for its classic unconformity-style deposit potential, situated on the northeastern edge of the Athabasca Basin.<\/p>\n<p>Black Lake South contains several targets for high-grade unconformity style deposits at shallow depth in a very similar setting to Cameco\u2019s Key Lake deposit.<\/p>\n<p>The other three projects \u2013 Karames, Hydichuck and Roe Lake \u2013 sit outside the Athabasca Basin, offering substantial exploration upside with the presence of uranium minerals such as uranite and previous reports of radioactivity.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Exploration excellence in world-class district <\/strong><\/h2>\n<p>\u201cWe are excited about adding additional acreage to our Athabasca Basin portfolio,\u201d M24 executive director Simon Andrew says.<\/p>\n<p>\u201cWith a relatively small budget we are hopeful to be able to identify additional drilling targets over the next 6 months with the Blake Lake South Project looking especially prospective.<\/p>\n<p>\u201cThis acquisition not only expands our portfolio but provides the opportunity of additional news flow, reaffirming our commitment to growth and exploration excellence in this world class uranium district.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Upcoming work program <\/strong><\/h2>\n<p>The projects\u2019 Phase 1 Budget Proposal outlines a highly cost-effective exploration strategy with several objectives.<\/p>\n<p>Firstly, an airborne electromagnetic (EM) program is proposed to cover the most promising historical anomalies at Black Lake South, aiming to identify potential drill targets for unconformity-style uranium deposits while also generating news flow.<\/p>\n<p>Additionally, helicopter and\/or boat-supported reconnaissance rock and boulder sampling programs are planned for early summer to pinpoint uranium mineralisation, generate news flow and identify drill targets for basement-hosted uranium deposits.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Mamba Exploration, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/mamba-adds-uranium-projects-to-its-athabasca-portfolio\/\">Mamba adds uranium projects to its Athabasca portfolio<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Mamba (ASX:M24) signs binding term sheet to acquire four uranium exploration projects The acquisitions include the Black Lake South Project, which contains several targets for <a href=\"https:\/\/economicherald.net\/?p=10569\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10570,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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