Moab lifts uranium resource at Manyoni project in Tanzania
ASX-listed Moab Minerals on Tuesday reported a 25% increase in contained uranium oxide (U3O8) at its Manyoni project in Tanzania after updating its mineral resource estimate (MRE) to Joint Ore Reserve Committee (Jorc) 2012 standards.
The resource now stands at 27.19-million pounds of U3O8 at an average grade of 136 parts per million (ppm), up from the historical estimate released in March 2024. The company said drilling confirmed a consistently mineralised, flat-lying palaeochannel system with shallow overburden, which could be amenable to low-cost strip mining.
“The outcome of the MRE is highly encouraging," commented MD Malcolm Day. "Our drilling programme has resulted in an increase of 25% in contained U3O8 (at a 100 ppm U3O8 cutoff grade), compared with the previous historical estimate for the same cutoff grade. With the completion of the verification drilling, we have now upgraded the MRE to comply with Jorc 2012 standards, as outlined in our announcement dated March 12, 2024.”
Day added that the upgraded estimate underscored the growth potential of the Manyoni project, with ongoing drilling and geological mapping further refining the understanding of the mineralisation controls within the palaeochannel system. Exploration activities have also identified multiple zones where uranium grades were locally enhanced, particularly within the central high-grade core, offering opportunities for targeted development and resource expansion.
He said the project’s shallow overburden and proximity of mineralised zones “present clear advantages for future mining operations, potentially lowering both capital and operational expenditures".
Moab plans further environmental and metallurgical studies to support permitting and feasibility work.
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