C29 Metals has secured a new tenement adjoining its Ulytau Uranium Project in Kazakhstan.
The southern tenement, identified by application number 1905-EA, expands the project’s footprint by approximately 213km².
The Ulytau project, situated in the Almaty region of southern Kazakhstan, is approximately 15km south-west of the historic Bota-Burum mine.
The region has been a hub for uranium exploration since 1953, with the Bota Burum mine commencing operations in 1956 and producing until 1991.
The Bota-Burum mine’s total reserves are reported to be around 20,000 tonnes of uranium, equivalent to 44 million pounds.
The new tenement is believed to share a similar mineralised trend with the existing Ulytau project area, suggesting potential for further uranium discoveries, the company said.
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By GlobalData
Situated near Lake Balkhash in south Kazakhstan, the Ulytau project is poised for significant development, with historical geological work indicating substantial uranium deposits.
C29 Metals managing director Shannon Green said: “It is very exciting to have this highly prospective application granted in such a rapid time frame. This is further demonstration of the positive operating environment in Kazakhstan and the support the company is enjoying.”
In March 2024, C29 Metals signed a binding agreement to acquire complete ownership of the Ulytau Uranium Project.
At that time, the company said it would initiate ground geological works immediately through its established in-country network.
The initial efforts will focus on field mapping, locating historic drill collars, and translating technical documents and data to create a new geological database.
C29 Metals also announced plans to begin initial drilling programmes for historic data validation and to explore underexplored and unexplored areas within the tenement.
