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Madison Metals Inc (2)
Symbol GREN
Shares Issued 27,869,817
Close 2024-05-27 C$ 0.345
Market Cap C$ 9,615,087
Recent Sedar Documents

Madison Metals samples 1.54% U3O8 at Khan

2024-05-27 09:28 ET - News Release

Mr. Duane Parnham reports

DISCOVERY HOLE DRILLED BY MADISON METALS AT KHAN URANIUM PROJECT IN NAMIBIA, AFRICA

Madison Metals Inc.'s reverse circulation (RC) drill hole KM5RC003 intersected strong uranium mineralization over minable widths under trench area TR003 (refer to press releases dated March 4, 2024, and April 18, 2024).

The RC hole was positioned at a 55-degree azimuth facing northeast, intersecting four distinct uranium mineralized radiometric D-type leucogranites (favourable rock type mined at Rossing) over 157 metres. Spectrometer readings from chip sample bags returned values as high as 1.36 per cent U3O8 (triuranium octoxide) at 45 m and 1.54 per cent at 148 m vertical depth from surface. Mineralization is open in all directions and requires additional drilling to determine size and geometry.

The RC hole will be geo-probed and chemical assays will be performed as per the company's quality assurance/quality control (QA/QC) protocol to confirm uranium concentrations. Further details will be provided as results are received and reviewed by Madison management.

Drilling continues in the TR004 and TR005 trenching area, where strong uranium mineralization was encountered at surface. Additional drilling is also planned at TR003 due to this discovery.

Qualified person

Mary Barton, a professional natural scientist (SACNASP) and a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects for ML86A, has reviewed, verified and approved the technical information contained in this news release.

About Madison Metals Inc.

Madison Metals is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada. With over 50 years of mining experience, including 22 years in Namibia, its management team has geological and financial expertise, and a record of creating shareholder value.

We seek Safe Harbor.

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