Moab Minerals Limited has received a $500,000 funding commitment from European Lithium for its Manyoni Uranium Project in Tanzania. This investment will enhance exploration and working capital. Drilling results confirmed high-grade uranium deposits, with important project milestones set for 2025. Additionally, Moab is exploring gold and lithium in Ghana. African Mining Week will provide insights into mining opportunities in Africa.
Moab Minerals Limited has secured a commitment of $500,000 from Australian mining firm European Lithium to advance the Manyoni Uranium Project in Tanzania. This funding will be allocated through a private placement, facilitating exploration efforts at the Manyoni site and enhancing Moab’s overall working capital.
Recent drilling results, disclosed in February 2025, confirmed the existence of high-grade, commercially viable uranium deposits at the Manyoni project. Moab is scheduled to announce metallurgical test results in March 2025 and will commence expanded drilling operations in September 2025, with the maiden mineral resource estimate expected by December 2025.
In addition to uranium, Moab Minerals is actively exploring opportunities for gold and lithium deposits in Ghana, diversifying its exploration portfolio.
African Mining Week is set to be a key event showcasing mining opportunities across Africa. Taking place from October 1-3 in Cape Town, it will be held in conjunction with the African Energy Week: Invest in African Energies 2025 conference. Interested sponsors, exhibitors, and delegates can reach out for more information at sales@energycapitalpower.com.
Moab Minerals Limited has made significant advancements with the financial backing of European Lithium, which will bolster the Manyoni Uranium Project’s exploration and general capital. Upcoming metallurgical results and expanded drilling are poised to enhance the project’s viability while the firm’s exploration into gold and lithium diversifies its interests. This support, alongside the prominence of African Mining Week, highlights the growing opportunities within Africa’s mining sector.
Original Source: energycapitalpower.com
