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Moab prepare to move on Rex’s Uranium

16 January 2023 10:01
ASX: MOM

Moab Minerals are one step closer to putting the drill to its flagship Rex uranium-vanadium project in Colorado, having submitted its drill permit application.

Current plans are for a 21-hole drill campaign covering over 3000 metres of the project, targeting eastward extensions of known mineralised zones from the historical workings at Faery queen and the 45-90 mine.

Moab aims to drill to a depth of 150 metres to adequately test the full stratigraphic extent of mineralisation at Rex, with a limited number of drill holes to allow time for analytical results to be returned and further drilling to be planned.

Perched on the acclaimed Uravan Mineral Belt, home to the Mt Vida Uranium district which has produced 22 thousand tonnes of triuranium octoxide, Rex has been Moab’s main focus since it relisted in September, with the project returning a peak grade of 5280 parts per million U3O8 in rock chip sampling.

The company said it has commenced baseline environmental studies which are critical to both the drill permit application and ongoing exploration of the project.

“Moab has carried out significant due diligence work on the REX Uranium-Vanadium Project which has been aimed at defining prospective trends of mineralisation that could be targeted by the planned drill program in 2023,” managing director Malcolm Day said.

“With this work largely complete, the next step is to get the drills out there, hence we are pleased to have now submitted the drilling application to the BLM and Colorado Division of Reclamation.”

Moab expects to fire up the rig in spring.

MOM’s Australian Stock Exchange-listed share price is trading at 1.0c (9.31 am UTC+ 8 hours).

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