Connected Minerals Reports 17 of 23 Holes with Economic Uranium Grades at Etango North-East
Connected Minerals Limited (ASX, CML) reports promising uranium drilling outcomes at its Etango North-East project in Namibia alongside a successful $5.1 million capital raise, advancing its exploration agenda in Namibia and Western Australia.
- Successful $5.1 million capital raise following ASX readmission
- Multiple drilling holes at Etango North-East deliver economic uranium grades
- Geological similarities confirmed with world-class Etango Uranium Project
- Pallingup rare earth element project in Western Australia progressing with planned drilling
- Strategic acquisitions sought to complement African asset portfolio
Strong Capital Position and Exploration Momentum
Connected Minerals Limited (ASX, CML) has marked a significant milestone with its successful readmission to the ASX and a $5.1 million capital raise, providing the financial foundation to advance its uranium exploration projects. The company’s focus remains sharply on its flagship Etango North-East uranium project in Namibia, where recent drilling campaigns have yielded encouraging results.
Promising Drilling Results at Etango North-East
The latest drilling phases at Etango North-East have delivered multiple holes with economic uranium grades, reinforcing the project's potential. Notably, 14 of 15 holes in the initial phase and 17 of 23 in the subsequent phase intersected mineralisation grades comparable to those of the nearby world-class Etango Uranium Project operated by Bannerman Mining. Highlights include intercepts such as 5 meters at 358 ppm uranium oxide and other intervals exceeding 600 ppm, indicating robust mineralisation that remains open at depth and along strike.
These results underscore the geological affinity between Connected Minerals’ tenement and the established Etango deposit, suggesting a promising pathway for resource expansion. The company is actively planning further drilling to delineate the extent of mineralisation and to build on this early success.
Advancing Rare Earth Exploration in Western Australia
Beyond Namibia, Connected Minerals is progressing its Pallingup Project in Western Australia, targeting rare earth elements (REEs) and heavy minerals. The project area has expanded to cover approximately 88 kilometers of prospective ground, with recent aeromagnetic surveys identifying potential carbonatite structures that could host REEs. The company is preparing for an aircore drilling program scheduled for the first quarter of 2026, contingent on securing land access agreements.
Strategic Outlook and Corporate Strength
Connected Minerals’ leadership team brings a wealth of experience spanning geology, mining finance, and corporate governance, positioning the company well to navigate the complexities of mineral exploration. The company continues to systematically assess its portfolio and is actively seeking strategic acquisitions to complement its African asset base, aiming to build a diversified and robust mineral resource portfolio.
With a market capitalization of approximately $8.7 million and cash reserves of $3.4 million as of September 2025, Connected Minerals is financially equipped to pursue its exploration and growth objectives. The company’s forward-looking approach balances optimism with caution, acknowledging the inherent uncertainties in mineral exploration while capitalizing on early successes.
Bottom Line?
Connected Minerals’ strong drilling results and capital raise set the stage for a pivotal year ahead in uranium and rare earth exploration.
Questions in the middle?
- How will upcoming drilling programs further define the resource potential at Etango North-East?
- What strategic acquisitions might Connected Minerals pursue to enhance its asset portfolio?
- Will land access agreements for the Pallingup Project be secured in time for the planned 2026 drilling?
