Australian mining exploration company C29 Metals has received a Category 2 environmental permit, enabling it to begin drilling at its Ulytau uranium project located in Kazakhstan’s Zhambyl region. This marks a significant step forward for the company, which is advancing its exploration plans in the mineral-rich area.
In a strategic move, C29 Metals has signed a Memorandum of Understanding (MOU) with Volkovgeology, a 100% subsidiary of Kazatomprom, Kazakhstan’s national uranium producer. This collaboration is expected to play a pivotal role in the successful execution of the exploration program, with Volkovgeology providing key geological services and oversight for the drilling activities.
C29 Metals has outlined its plans to initiate an advanced drilling program, with the final design of the initial drilling phase nearing completion. The program will focus on extending the first diamond drill holes to a depth of approximately 500 meters, aimed at testing and verifying historical data on the uranium deposit. The Ulytau uranium project is located about 15 kilometers southwest of the Botaburum mine, one of Kazakhstan’s largest and most productive uranium fields.
The exploration of the Ulytau region dates back to 1953, with the Botaburum mine operating between 1956 and 1991 and producing around 20,000 tons of uranium. With estimates suggesting that the Ulytau deposit could contain around 3,800 tons of uranium oxide concentrate, the upcoming drilling campaign will be critical in determining the extent and commercial viability of the resource.
C29 Metals has scheduled the drilling to commence in November 2024, with an independent contractor handling the drilling and geophysical studies of the wells. Volkovgeology will oversee the broader geological services and ensure compliance with local regulations.
This project aligns with C29 Metals’ broader strategy to expand its uranium exploration portfolio and tap into the growing demand for the critical mineral, especially as global energy transitions continue to emphasize the role of nuclear energy. The partnership with Kazatomprom’s subsidiary further strengthens C29 Metals’ position in the region, providing access to local expertise and resources essential for successful exploration and development.
With the Ulytau uranium project now cleared to move forward, C29 Metals is poised to make significant strides in its quest to unlock the potential of this promising uranium deposit in Kazakhstan.
