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Critical One Energy Inc. reports developments as a Canadian mining exploration company focused on critical metals and minerals. Its updates center on the Howells Lake Antimony-Gold Project in Ontario's Thunder Bay Mining Division, including exploration permitting, Ontario Junior Exploration Program funding, geophysical interpretation, drilling activity, and near-surface antimony and gold mineralization.
Company news also covers its broader critical-minerals portfolio, including uranium and copper assets in Namibia's Erongo uranium province, as well as exploration agreements with Indigenous communities, strategic advisory appointments, capital-market communications, and stock-option grants tied to its public-company governance.
Madison Metals has announced the completion of their maiden drill program at the Khan Uranium Project in Namibia, drilling nine holes (997m) with six confirming high-grade uranium deposits. Key findings include uranium mineralization at depth in six holes, a significant 15m mineralized zone averaging pXRF 0.3% U3O8, and a maximum pXRF value of 1.54% U3O8. The drill program targeted subsurface uranium-bearing outcrops along a 12km anomaly. Despite ground access challenges, significant mineralized intersections were achieved. Future follow-up drilling is planned to further define the uranium's lateral and vertical extent.
Madison Metals has terminated its uranium forward sales agreement with Sanmiguel Capital Investment. To date, only 2,130 pounds of U3O8 were sold at $68 per pound. The termination allows Madison to use 100% of its future uranium production for shareholder benefits. CEO Duane Parnham emphasized the company's commitment to operational excellence and expanding uranium resources in Namibia, particularly highlighting the Khan high-grade uranium discovery. Additionally, Madison will cancel 1,500,000 performance shares issued to JJK Holdings.
Madison Metals announced a significant discovery at its Khan Uranium Project in Namibia.
The RC drill hole KM5RC003 intersected strong uranium mineralization over minable widths under trench area TR003.
The drill hole intersected four uranium-mineralized radiometric D-type leucogranites over 157 meters.
Spectrometer readings from chip samples showed high values, with 1.36% U3O8 at 45 meters and 1.54% U3O8 at 148 meters depth.
The mineralization is open in all directions and requires further drilling to determine its size and geometry.
Additional drilling is planned in the TR003, TR004, and TR005 trenching areas.
The technical information in the release was verified by Mary Barton, a Qualified Person under NI 43-101 standards.
Madison Metals has commenced its 2024 drill program at the Khan Uranium Project in Namibia, located in the Erongo uranium province.
The program will focus on specific areas identified in a prior release dated April 18, 2024. Results will be published as they become available and after thorough analysis.
Mary Barton, a Professional Natural Scientist and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information in the announcement.
Madison Metals Inc. provided an update on the Kenora Uranium Project, extending the first-year expenditure commitments for Great Northern Energy Inc. The agreement requires an investment of CDN $600,000 by May 3, 2025, and an additional CDN $300,000 by May 3, 2026, enabling Great Northern Energy to earn a 60% interest in the project. Madison Metals will retain a 40% carried interest once the earn-in terms are met. Additionally, the Company issued stock options for 1,200,000 common shares to its board of directors, management, and consultants at a price of CDN $0.29 per share.
Madison Metals Inc. engages Market One Media Group for marketing services to enhance investor engagement and communication regarding high-grade uranium discoveries at the Khan Project. The collaboration aims to drive shareholder value and visibility in the capital markets.
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