C29 Metals has entered into a partnership with Volkov Geology, a wholly owned subsidiary of Kazatomprom, Kazakhstan’s sole uranium producer. As the largest volume drilling company in Kazakhstan, Volkov will provide geological studies and drilling services for Kazatomprom’s projects.
With a workforce of approximately 4,500 and 75 years of experience in uranium exploration and mining, Volkov Geology is well-equipped to support C29’s drilling programs at the Ulytau uranium project. While Volkov won’t be directly involved in in-ground activities for the upcoming drilling program set to start in November 2024, C29 expects their role to expand to include studies, geological modeling, and resource estimation.
Managing Director Shannon Green expressed enthusiasm about the collaboration, stating, “This is a significant milestone for the Company to have Volkov Geology join us as our geological partner. It is an incredible step forward as we rapidly advance towards our goal of becoming a globally significant uranium development company.”
Exploring uranium potential
C29’s Ulytau project is located in the Almaty Region of southern Kazakhstan, about 15 km southwest of the Bota-Burum mine, one of the largest uranium deposits exploited by the former Soviet Union, with total output estimated at 20,000 tonnes (44 million pounds). Uranium exploration in this area has been ongoing since 1953.
C29 has successfully cleared all regulatory requirements for the issuance of a drill permit and has raised $2.45 million to fund its initial diamond drilling program.
