MOAB Minerals, an Australian company listed on the ASX, has bought a big share in Linx Resources, now owning 89.6 percent of the company. This includes purchasing 81.85 percent of shares and converting loans. Linx Resources owns the Manyoni and Octavo Uranium Projects in Tanzania.
The Manyoni and Octavo Uranium Projects are in central Tanzania. These projects have licences to explore for uranium, which can be extended. At Manyoni, uranium is found in granitic saprolite under lake sediments, starting about 10 metres deep. At Octavo, uranium is found in Triassic sandstone above granite rocks.
Moab Minerals plans a major drilling program with 60 drill holes, each about 25 meters deep, to confirm previous findings. They will also test samples from the drilling, with these activities expected to finish in 2024 and 2025.
Additionally, Moab will explore more at Manyoni to find more uranium. This will involve drilling in patterns of 400m x 400m and 200m x 200m. The company is looking for drilling firms to drill at least 1,500 meters of core samples, with the option to drill another 1,500 meters.
Malcolm Day, Moab Minerals’ managing director, said these uranium projects are a big opportunity for the company. He pointed out that having access to old exploration data from Uranex Ltd, which explored Manyoni from the early 2000s to 2013, will save a lot of time and money.
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