Figure 1: Location of the wells and observations.
KM5RC001 drilled to intersect mineralization between surface trenches KM5TR001 and KM5TR002. The drillhole intersected a 3m mineralized alaskite starting 19m below surface.
Two holes (KM5RC003 and KM5RC007) were drilled under the surface trench KM5TR003 and prolonged to intercept a surface expression 50 m from the trench. Both holes intersected several mineralized alaschite lenses more than 2 m thick from 35 m below the surface. The most in-house mineralized alasquites crossed 114 metres below surface in the two drill holes.
KM5RC008 and KM5RC009 were drilled to check surface mineralization and the orientation of the Alaska south of KM5TR001. KM5RC008 crossed a 1 m thick Alaska 33 m below the surface with a pXRF reading of 1. 19% U3O8.
Some RC chip samples have been submitted for research, and final analytical results are expected in the coming weeks. Follow-up drilling is planned to better delineate the lateral and vertical extent of uranium mineralization discovered to date.
*The pXRF on the RC chips was taken using a single reading on the percale bag per meter. With respect to disclosure of the effects of pXRF, the Company cautions that U3O8 ppm estimates of the effects of pXRF should not be taken as an approximation of quantitative investigation of the result of a laboratory assay. Assay effects are required to determine the actual widths and grades of visual mineralization.
Drilling was completed in multiple azimuths and fanned with multiple voids drilled from a single drill site to minimize surface disturbance, resulting in some indirect intersections with the target orientations. The actual thickness of the intersections will be considered to be after structural drilling and 3- Modeling d. All effects related to this press release relate to the thickness of the drill hole and should not be construed as actual thickness at this time.
Mary Barton, Professional Natural Scientist (SACNASP) and Qualified Person for National Regulation 43-101 (NI 43-101) on Information Standards for Mineral Projects for ML86A, has reviewed, verified and approved the technical data contained in this press release.
About Madison Metals Inc.
Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is an upstream exploration and mining company focused on sustainable uranium production in Namibia and Canada. With over 50 years of mining experience, adding up to 22 years in Namibia, its control team has geological and monetary expertise and a track record of creating shareholder value.
More information about Madison Metals Inc. can be found. in madisonmetals. ca and in the company’s SEDAR profile in www. sedarplus. ca.
Media Inquiries: Adam Bello Manager, Media Relations & Analysts Primoris Group Inc. 1 (416) 489-0092media@primorisgroup. com
Neither the Canadian Securities Exchange nor CIRO accepts the suitability or accuracy of this release.
Forward-Looking Statements
This press release is “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements relating to the long-term exploration and drilling proposed through Madison.
Some vital points that may also cause actual results, performance or achievements to differ materially from those indicated in the forward-looking statements include, but are not limited to: the global economic climate; competence; shortage of hard work and unforeseen company expenses. Forward-looking statements are subject to known and unknown dangers, uncertainties and other vital points that could possibly cause the actual results, point of business, functionality or achievements of the Company to be materially different from those expressed or implied through of such forward-looking statements. statements. including, but not limited to: failure by the Company or its contractual partners to comply with their respective obligations under the Agreements; unforeseen delays in drilling as described in this press release; the effects that the COVID 19 pandemic may also have on the Company’s activities and the economy in general; the impact of the post-COVID 19 pandemic recovery and its impact on valuable metals; receipt of mandatory approvals; general business, economic, competitive, political and social uncertainties; accidents, labor disputes and shortages; environmental hazards; and other dangers of the mining industry.
Although the Company has attempted to identify points that may also cause actual effects to differ materially from those contained in the forward-looking statements, there may be other points that cause the effects to be less than expected, estimated or anticipated. There is no assurance that such statements will prove to be accurate, as actual effects and long-term events may also differ materially from those expected in such statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
Further information relating to these and other dangers can be discovered in the Company’s filings with the Canadian securities regulatory government found on the Company’s SEDAR profile page in www. sedarplus. ca. The Company assumes no legal responsibility to update or revise any forward-looking statements, as required by applicable law.
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