QX Resources Identifies High-Grade Uranium at New Madaba Project in Tanzania
QX Resources (ASX: QXR) has uncovered a promising uranium opportunity with desktop studies focused on its new Madaba project located within the highly prospective Luwegu Basin in southern Tanzania.
The company entered into binding tenement sale agreements to acquire a 100% interest in Madaba in late August, and its subsequent database review and digitisation of historical drilling results has confirmed high-grade uranium mineralisation at the project.
Numerous of these drill holes intersected ‘stacked’ and coalescing of individual uranium seams, forming substantial targets for the company’s follow-up drilling.
Uranium-Rich Region
QX believes Madaba has the potential to be analogous to the nearby Nyota uranium deposit, which contains a resource of 125 million pounds of the common chemical compound triuranium octoxide (U308) at a grade of 300 parts per million U308.
Standout results from historical drilling at Madaba featured 15 metres at 612ppm U308 from 4m including 3m at 2,465ppm from 10m, and 16m at 337ppm U308 from 4m including 4m at 1,082ppm from 8m.
QX is now planning a site visit with the company’s consultants next month, and seeking quotations for detailed radiometric survey over high-priority areas.
The company will use the data from that survey in its preparations for the Stage 1 drilling of high-priority drill targets it has scheduled for early 2026.
Historical Discovery
German company Uranerzbergbau GmbH (UEB) discovered Madaba between 1979‐1982 through its follow up of several strong airborne anomalies, and later acquired by East African Resources.
UEB was responsible for most of the historical uranium exploration in Tanzania during this period, including reconnaissance exploration in the Madaba and Mkuju River areas.
Tanzania is about to become a significant player in the global uranium market, with the recent launch of a major joint venture with Russian major Rosatom to develop the Mkuju River Project.
Rosatom subsidiary Mantra Tanzania commissioned a pilot uranium processing plant at Mkuju River in July.
‘Extremely Favourable Tailwinds’
“We are pleased with the results generated to date, which underscores the prospectivity of the Madaba uranium project,” QX executive chair Maurice Feilich said.
“Recent commentary from US Energy Secretary Chris Wright adds to our view that uranium has extremely favourable tailwinds and that high-grade uranium projects will be in strong demand.”
QX recently received firm commitments to raise approximately $1.5 million through a share placement to help fund the development of the project, including $200,000 participation by directors of the company.