Moab Minerals (ASX:MOM) Commences Drilling at Manyoni Uranium Project in Tanzania

Jane Morgan Management

Perth, Australia – 3 September 2024 | Moab Minerals Limited (ASX:MOM) ("Moab" or "the Company") is pleased to announce the start of a significant core drilling program at the Manyoni Uranium Project in Tanzania, Africa. The drilling program marks a critical step in advancing the exploration and development of the Manyoni Project, which has shown some promising potential for uranium mineralisation.

Highlights:

• Drilling Program Underway: A 60-hole core drilling program has begun at the Manyoni Uranium Project. The primary objective of this Stage One drilling phase is to verify historical drill results in the area, gather additional geological and bulk density information, and also to conduct preliminary metallurgical test-work for determining the optimal processing pathway for the project.

• Strategic Location: The Manyoni Uranium Project in Tanzania is strategically located just 5km north of Manyoni town, benefiting from modern railway and highway infrastructure, as well as readily available power and water resources located nearby. 

• Historical Context: The Manyoni Project was previously explored and extensively drilled by Uranex Ltd in the early 2000s and until 2013. However, the project was put on hold due to low uranium prices at the time. With the resurgence of uranium demand, Moab Minerals is now well-positioned to capitalise on the project’s potential. 

• Future Plans: Following the successful completion of the Stage One drilling campaign, Moab plans to carry out a Mineral Resource Estimation with the assistance of Snowdens/Optiro. Phase Two drilling of the program, consisting of 100 additional holes, is then also planned to explore extensions of the known mineralisation at the site. 

Malcolm Day, Managing Director of Moab Minerals, commented: “I visited the Manyoni Uranium Project last week and am excited to report that drilling has started. The Company only settled the transaction on 9 th July and in less than two months has been able to ‘hit the ground running’. The drilling program is expected to run over the next few months with most of the assay results available in November/December. I look forward to updating shareholders in coming months in regard [to] the advancement of the Manyoni Uranium Project”.

Project Background:

The Manyoni Uranium Project is situated in the central part of the Tanzanian Archaean Shield, a stable platform of granite-gneiss terrain with marginal greenstone belts. Uranium mineralisation at Manyoni is found within a shallow playa lake system, with minerals such as schröckingerite and carnotite identified in the lake sediments and granitic saprolite.

Moving Forward:

The ongoing drilling program will focus on verifying historical drill data, improving a geological understanding of the site, and advancing metallurgical studies. The results from the drilling program will be crucial in shaping the future development strategy for the Manyoni Uranium Project.

Malcolm Day
Managing Director
mal@moabminerals.com.au
+61 417 770 315

Jane Morgan
Investor and Media Relations
jm@janemorganmanagement.com.au
+61 405 555 618

About Moab Minerals Limited:

Moab Minerals Limited (ASX:MOM) is an exploration and project development company with a portfolio of exploration projects including: 

• The Manyoni and Octavo Uranium Projects located in Tanzania, 

• The REX Uranium-Vanadium Project located in the famed Uravan Mineral Belt of Colorado, 

• The Highline Copper-Cobalt Project in Southern Nevada, and 

• The Woodlands Project in Western Australia 

Moab also holds a 11.02% interest in CAA Mining, an exploration and development company focused on lithium and gold exploration in Ghana, Africa, providing Moab shareholders with an interest in three lithium projects that are complementary to its existing assets, expanding its business as a junior exploration company.

Jane Morgan 
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au