Madison Metals to expand explorations at Khan Copper Mine
Madison Metals Inc. is set to expand exploration works at the Khan Copper Mine in Namibia. Duane Parnham, Executive Chairman and CEO of Madison Metals, made the announcement and the firm has Exclusive Prospecting Licence 8905 (“EPL-8905”) by the Ministry of Mines and Energy of Namibia to pave way for the expansion.
This license expands their exploration and development scope to include base and rare metals, industrial minerals, and nuclear fuels within Mining Licence 86A (“ML-86A”), the same area that hosts the Khan Copper Mine.
Growth opportunities
This development is crucial for Madison Metals as it marks a strategic move towards capitalizing on growth opportunities in the uranium mining sector. Through their efforts, Madison is earning a 90% interest in ML-86A and EPL-8905 via cash payments, while their Namibian partners hold the remaining 10% carried interest.
Duane Parnham, emphasized the expansion’s significance for the company’s uranium advancement strategy. He thanked their Namibian partners for their support and highlighted the potential of the Khan Copper Mine’s resources to enhance Madison’s asset portfolio.
This milestone enhances Madison Metals’ position in the mining sector, supporting their mission to deliver shareholder value through sustainable uranium production while exploring opportunities in base, precious, and critical metals.
Madison Metals Inc., is an upstream mining and exploration company with a focus on sustainable uranium production in Namibia and Canada. With extensive experience and expertise in mining operations, particularly in Namibia, Madison Metals is poised to leverage its geological and financial capabilities to create shareholder value.
