Moab Minerals Receives $500K Investment for Manyoni Uranium Project

Moab Minerals Limited has received a $500,000 investment from European Lithium for its Manyoni Uranium Project in Tanzania. The funds will support exploration efforts and enhance operational capital. Following promising drilling results, the company plans to release metallurgical test findings in March 2025 and begin expanded drilling in September 2025, with an estimated mineral resource report by December 2025. Moreover, Moab is exploring other mineral opportunities in Ghana.

Moab Minerals Limited has secured a commitment of $500,000 from the Australian mining firm, European Lithium, to facilitate the Manyoni Uranium Project in Tanzania. This funding, obtained through a private placement, aims to enhance exploration efforts at the Manyoni site and strengthens Moab’s general working capital to further advance their projects.

Drilling results disclosed in February 2025 have verified the existence of high-grade, commercially viable uranium deposits at the Manyoni Project. Moab is anticipated to release metallurgical test results in March 2025, initiate expanded drilling in September 2025, and unveil a maiden mineral resource estimate by December 2025. Additionally, Moab is investigating potential gold and lithium deposits in Ghana.

The prestigious African Mining Week offers a vital platform for the exploration of mining opportunities throughout Africa. Scheduled to occur concurrently with the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town, this event allows sponsors, exhibitors, and delegates to engage in discussions about the dynamic mining landscape. Those interested in participating can reach out at [email protected].

The funding from European Lithium signifies a significant step for Moab Minerals Limited in advancing its Manyoni Uranium Project in Tanzania, particularly following the positive drilling results. With plans for metallurgical tests and expanded drilling, the project is well-positioned to estimate its mineral resources by the end of 2025. Furthermore, Moab’s exploration of additional minerals in Ghana signals its commitment to diversifying its asset portfolio, contributing to broader mining opportunities showcased at upcoming industry events like African Mining Week.

Original Source: energycapitalpower.com