Australian-listed company Blaze Minerals Limited, which focuses on identifying and developing high-margin, high-grade, and high-value ore deposits in promising prospective regions, has started test drilling in the Mityana district.
The samples are to be sent to ALS South Africa for multi-element analysis and to confirm the viability of further investment.
This comes soon after Blaze Minerals took up a majority 60% stake in Gecko Minerals Uganda, the former owners of the Mityana Critical Metals Project.
Initial studies indicate the presence of highly sought-after strategic minerals crucial in the global bid for clean energy and the manufacture of such items as wind turbines and electric vehicles. The Mityana site shows possible deposits of beryllium, rubidium, lithium, tin, and tantalite.
The October takeover also meant Gecko handed over the Ntungamo Project, which is adjacent to Mwirasandu, the largest tin-producing mine in Uganda. Traces of beryllium, rubidium, lithium, and tin are found in the same locality.
In a statement last week, Mathew Walker, the Blaze Minerals Corporate Director said, “We are delighted to be drilling so soon after the successful completion of our acquisition of the Mityana and Ntungamo Critical Metals Projects. These are potentially world-class projects that have never been drill-tested. The intention is to complete the drilling at Mityana before Christmas, then mobilize to the Ntungamo site early in the New Year.”
Blaze Minerals Limited is an Australian Public Exploration Company listed on the Australian Securities Exchange (ASX). According to market-watchers S&P Global, production of lithium, cobalt, copper, nickel, zinc, and aluminum (among other nonferrous metals) is estimated to account for more than $4 trillion in 2035. Batteries and accumulators are estimated to surpass the $1 trillion mark by the next decade.
The Mityana Project covers an area of 240 square kilometers in the middle of the historical open-cut tantalite mine which was closed in 2021 following the Covid-19 pandemic.
Gecko Director and African specialist Mark Gasson is overseeing the technical exploration activities led by South African geologist Dylan le Roux and the Gecko Uganda Director Allan Agumya.
Under the terms of the deal announced on October 17th, the remaining 40% interest is retained by Gecko until a Bankable Feasibility Study is delivered.
However, Blaze has the option to buy this stake for $750,000 at any point within 24 months from the agreement date, or it can be converted into a 2% net smelter royalty.
At the time, Walker said, “This strategic acquisition is consistent with our focus on critical metals and provides near-term excitement for our shareholders with all preliminary exploration work and regulatory approvals in place in support of a maiden drilling program.”
The Blaze venture also comes as the government operationalizes the Uganda National Mining Company (UNMC) and a new law that allows UNMC to take a compulsory 15% free carry stake in all mining operations in the country.
