Moab Minerals, an Australian Securities Exchange (ASX)-listed company, has made a significant acquisition in Tanzania, closing a deal to acquire a stake in Linx Resources. This acquisition has led to Moab owning 89.6% of Linx Resources, giving them control over the Manyoni and Octavo Uranium Projects.
Located in the central Tanzanian Archaean Shield, the Manyoni and Octavo Uranium Projects are promising prospects with initial four-year prospecting licenses that can be extended. The uranium mineralisation in Manyoni is found beneath lake sediments, while Octavo’s geological model indicates uranium presence in Triassic sandstone.
In order to further explore the potential of these projects, Moab is planning an extensive drilling program with 60 drill holes at an average depth of 25m. Additionally, the company will conduct bench-scale metallurgical testing on bulk samples from the drilling campaign, scheduled for completion in 2024 and 2025.
Moab’s managing director, Malcolm Day, expressed excitement over the acquisition, noting the wealth of historical exploration data available for the Manyoni Uranium Project. This data is expected to streamline Moab’s exploration efforts and save both time and money in the process.
With plans to execute a comprehensive drilling program and metallurgical testing, Moab Minerals is poised to unlock the full potential of the Manyoni and Octavo Uranium Projects in Tanzania.
