Drilling at Swakopmund Could Make or Break Connected Minerals’ Uranium Ambitions

Strategic Uranium Exploration in Namibia

Connected Minerals Ltd (ASX: CML) has announced encouraging results from a horizontal-loop electromagnetic (HLEM) survey conducted at its recently granted Swakopmund Uranium Project (EPL 9162) in Namibia. The survey, completed shortly after the licence was awarded in January 2025, aimed to delineate paleochannels, ancient riverbeds that can host calcrete uranium mineralisation.

The Swakopmund Project spans 125 square kilometres in the Erongo Region, a prolific uranium-producing area that includes Orano’s Trekkopje and Klein Trekkopje deposits, which collectively hold an estimated 340 million tonnes at 140ppm U3O8. This proximity underscores the project’s strategic importance within a globally recognised uranium province.

Survey Highlights and Geological Insights

The HLEM survey covered six lines totaling approximately 13 line kilometres, with a 25-metre station and coil spacing, enabling penetration to depths of around 30 metres. The survey successfully identified multiple paleochannels, particularly along lines 1, 2, 3, and 6. Notably, Line 1 revealed the widest and deepest paleochannel, measuring 600 metres across and extending to a depth of over 18 metres.

These paleochannels are significant because they may contain calcrete-hosted uranium mineralisation, a style known for its economic potential in Namibia. The survey also detected zones of high conductivity in bedrock, likely related to deep weathering and saline groundwater conditions near the coast, which may complicate interpretation but also provide additional geological context.

Next Steps: Drilling and Exploration Plans

Following the survey results, Connected Minerals’ consulting geophysicist has recommended drill testing the most promising paleochannels. The company is now advancing plans for an initial drilling program expected to commence in the second quarter of 2025. This drilling will be critical to validate the geophysical targets and assess the uranium mineralisation potential.

Managing Director Warrick Clent expressed optimism about the project’s prospects, highlighting the company’s aggressive exploration strategy since its ASX readmission in late 2024. Swakopmund complements Connected Minerals’ other Namibian licence, Etango North-East, where initial sampling has already indicated high-grade uranium mineralisation.

Positioning Connected Minerals in the Uranium Sector

Connected Minerals is positioning itself as a notable player in Namibia’s uranium sector, leveraging its portfolio of exploration licences in a region with established world-class deposits. The company’s methodical approach, starting with geophysical surveys to identify priority drill targets before committing to drilling, reflects a disciplined exploration model aimed at maximising discovery potential while managing risk.

As the company prepares for its maiden drill program at Swakopmund, investors and analysts will be watching closely for assay results that could confirm the presence of economically viable uranium mineralisation. Success here could significantly enhance Connected Minerals’ asset base and market profile.