Connected Minerals Strengthens Uranium Exploration Strategy with Key Project Developments

About Connected Minerals Limited

Connected Minerals Limited (ASX: CML) is a junior mineral exploration company focused on developing uranium resources in Namibia, one of the world’s most prolific uranium-producing regions. The company is leveraging its strategic land holdings and recent exploration success to advance its position as a key supplier for the global nuclear energy market. The February 2025 investor presentation highlights a strong commitment to unlocking value across its Namibian portfolio, with several high-priority targets identified and drilling programs set to commence. These developments come at a time when uranium demand is rising globally, positioning CML for significant long-term growth.

Advancing Uranium Exploration in Namibia

CML’s Namibian uranium portfolio includes the Etango North-East, Swakopmund, and Rossing South projects, all strategically located near major uranium mines such as Rossing, Husab, and Langer Heinrich. These assets benefit from well-established infrastructure, including roads, power, and access to port facilities, making them attractive development opportunities. The company’s exploration strategy focuses on confirming high-grade uranium mineralisation and identifying priority drill targets for future resource definition. Early fieldwork and rock chip sampling have already delivered promising results.

At the Etango North-East Project, CML’s maiden field program identified significant uranium mineralisation, confirming the presence of high-grade deposits. The initial rock chip sampling program yielded notable uranium concentrations, with several samples exceeding 5,000 ppm U₃O₈. These findings validate the project’s potential and pave the way for an upcoming drilling campaign to further delineate the resource. Additionally, detailed scintillometer surveys have highlighted multiple zones of interest, including the Ondapanda, Onkumbwa, and Pandula prospects, which exhibit geological characteristics like nearby producing uranium mines.

Priority Drill Targets and Future Exploration Plans

Following its successful initial exploration phase, CML has prioritised several targets for drilling in early 2025. A maiden drilling program is set to begin in Q1 2025 at high-priority targets in Etango North-East. The Swakopmund Project will also undergo an expanded drilling campaign to test potential calcrete-hosted uranium deposits.

At Rossing South, the company is advancing exploration efforts targeting alaskite-hosted uranium deposits, which have characteristics suitable for large-scale production. These projects collectively position CML to build a significant uranium resource base in Namibia, with the potential to supply growing global demand.

Global Uranium Market and Industry Trends

The uranium sector has experienced renewed interest as countries increasingly turn to nuclear energy as a clean and reliable power source. In 2023, Namibia ranked as the third-largest uranium producer globally, and ongoing investments in exploration and development signal the country’s growing importance in the supply chain.

CML’s focus on uranium aligns with strong market fundamentals, including increased global nuclear reactor development, particularly in China and India, supply constraints and rising prices driven by geopolitical factors, and strong investor interest in uranium stocks as the market shifts towards long-term sustainable energy solutions. By positioning itself as an emerging player in Namibia’s uranium space, CML stands to benefit from these tailwinds.

Connected Minerals’ investor presentation underscores its commitment to unlocking value from its uranium projects in Namibia. With high-grade discoveries, a well-defined exploration roadmap, and a favourable market environment, the company is poised for significant advancements in 2025. The upcoming maiden drilling campaigns, coupled with continued exploration success, will be critical in shaping CML’s long-term growth trajectory. Investors and industry stakeholders will be watching closely as the company progresses toward resource definition and potential development.