Delecta expands Manyoni uranium footprint as resource and prices climb

Delecta Limited ( (AU:MOM) ) just unveiled an announcement.

Delecta’s Moab-controlled Manyoni uranium project in Tanzania is being expanded with the acquisition of four adjacent prospecting licences from AuKing, which contain extensions of the mineralised palaeochannel system. The deal, which requires Moab shareholder approval expected in the June quarter, will be settled via 62.5 million Moab shares subject to six months’ voluntary escrow.

The new ground follows a 25% increase in the project’s JORC 2012-compliant Mineral Resource Estimate to 27.19 million pounds of U₃O₈ at 136 ppm and further consolidates the company’s focus on uranium against a backdrop of spot prices around US$87 per pound. Management views the stronger uranium price environment as enhancing the strategic and economic rationale for advancing Manyoni and its broader uranium portfolio.

More about Delecta Limited

Delecta Limited, through its Moab uranium interests, is focused on uranium exploration and development in Tanzania, particularly at the Manyoni project. The company is expanding its strategic land position around established mineralised palaeochannel systems, aiming to leverage strong uranium market conditions and bolster the scale and economics of its resource base.

Current Market Cap: A$3.02M

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