Phase 2 Drilling Results Pending: What Risks Lie Ahead for Connected Minerals?
Connected Minerals has completed its Phase 2 reverse circulation drilling at the Ondapanda Prospect in Namibia, following strong initial results. The company anticipates assay results in three weeks that could further define its uranium potential.
- Phase 2 drilling completed with 23 holes totaling 3,134 metres
- Phase 1 delivered 14 of 15 holes with economic uranium grades
- Drilling targets mineralised Alaskites similar to nearby Etango project
- Results from Phase 2 expected within three weeks
- Exploration campaign advancing rapidly in Namibia
Phase 2 Drilling Completion Marks Key Milestone
Connected Minerals Limited (ASX, CML) has announced the completion of its Phase 2 reverse circulation (RC) drilling program at the Etango North-East Uranium Project in Namibia. The program focused on the Ondapanda Prospect, where 23 holes were drilled for a total of 3,134 metres. This follows a highly encouraging Phase 1 campaign that saw 14 of 15 holes return economic uranium grades, setting a promising foundation for the company’s exploration ambitions.
Building on Strong Early Results
The initial Phase 1 drilling revealed multiple intervals of uranium mineralisation within Alaskite leucogranite formations, with standout intercepts such as 5 metres at 358 ppm eU3O8 and 4 metres at 230 ppm eU3O8. These results underpin the geological model that Connected Minerals is pursuing, which closely mirrors the nearby world-class Etango Uranium Project operated by Bannerman Energy. The Etango project boasts a substantial resource base, and Connected Minerals aims to replicate similar mineralisation styles and scale at Ondapanda.
Strategic Expansion and Geological Insights
The Phase 2 drilling was designed to expand geological understanding and test both infill and extensional targets within the prospect. Early indications suggest continued intersections of Alaskite units, although full downhole probe analyses are still underway. Managing Director Warrick Clent expressed optimism about the results, highlighting the increased scale of the program compared to initial plans and the company’s confidence in the ongoing exploration campaign.
Looking Ahead to Results and Market Implications
Connected Minerals expects to release Phase 2 assay results within approximately three weeks. These results will be critical in assessing the potential to expand the uranium resource and refining the project’s development pathway. Given the strategic importance of uranium in the global energy transition, positive outcomes could enhance investor interest and position Connected Minerals as a notable player in Namibia’s prolific uranium province.
Bottom Line?
The upcoming assay results will be pivotal in shaping Connected Minerals’ uranium prospects and market momentum.
Questions in the middle?
- Will Phase 2 results confirm or exceed the strong grades seen in Phase 1?
- How might the new data influence resource estimates and project valuation?
- What are the next steps for development if mineralisation continuity is confirmed?
