In a significant move toward expanding its presence in Tanzania’s mining sector, Askari Metals has announced the acquisition of the Eyasi Uranium Project in northern Tanzania.
Through its Tanzanian subsidiary, Infinum Uranium, Askari Metals secured full ownership of the 292km² Eyasi Uranium Project, located approximately 320km north-west of Dodoma. This acquisition is part of the company’s broader strategy to target highly prospective surface uranium deposits. The project is situated within the Precambrian Eastern Granulite Complex and is associated with the East African Rift system, which is known for its rich geological features conducive to uranium mineralization.
Exploration Plans and Geology
Askari Metals identified the Eyasi Project as a prime exploration site following an extensive review of geological and geophysical data. The area’s geology points to uraniferous fluvial channel systems, where uranium deposits are likely hosted within coarser-grained, permeable sediment layers. The company’s mineralization model also suggests the potential for secondary, placer-style deposits derived from uranium-rich granites.
As part of its exploration efforts, Askari Metals plans to fast-track a series of low-cost exploration programs to define drill targets. The company will begin with an initial reconnaissance sampling campaign along the paleochannel systems to better understand the mineralization. Other planned activities include high-resolution remote sensing using satellite imagery, ground-based radiometric surveys with scintillometers, and field reconnaissance involving mapping and stream sediment sampling.
Strategic Importance
The acquisition of the Eyasi Project follows Askari Metals’ purchase of the Matemanga Uranium Project in southern Tanzania earlier this year. Both acquisitions are part of the company’s strategic focus on uranium exploration in Tanzania. With these projects, Askari Metals aims to strengthen its portfolio and capitalize on the growing demand for uranium, especially as global interest in clean energy sources, such as nuclear power, continues to rise.
Askari Metals’ managing director, Gino D’Anna, expressed optimism about the potential of the Eyasi Project, stating, “The Eyasi Project represents a significant exploration opportunity for Askari and is a strong addition to our Tanzanian uranium portfolio. We are well-positioned to execute high-impact, low-cost exploration campaigns in Tanzania, and we look forward to getting boots on the ground at Eyasi.”
Government Support for Mining
The acquisition comes at a time when the Tanzanian government, under the leadership of President Samia Suluhu Hassan, has been prioritizing the development of the country’s mining sector. The government aims to increase the sector’s contribution to the nation’s gross domestic product (GDP) from 6.7% in 2020 to 10% by 2025, creating a favorable environment for mining investments.
With the Tanzanian government’s strong commitment to the sector and Askari Metals’ ambitious exploration plans, the Eyasi Uranium Project is expected to play a key role in advancing Tanzania’s growing uranium industry.
