PERTH: Moab Minerals Ltd (ASX: MOM) has moved to consolidate its position in Tanzania’s emerging uranium sector, announcing the successful transfer of four highly prospective exploration tenements from AuKing Ltd (ASX: AKN) to its local subsidiary, Katika Resources Limited.
The acquisition, initially outlined in agreements dating back to October 2024, significantly expands Moab’s footprint adjacent to its flagship Manyoni Uranium Project. The transferred licences are considered highly strategic, as they contain interpreted extensions of the palaeochannel uranium system that hosts known mineralisation at Manyoni.
Completion of the transaction is now contingent on securing shareholder approval for the issuance of 62.5 million ordinary shares to AuKing as consideration. Moab expects this approval to be finalized during the June quarter.
The deal comes on the heels of a major resource upgrade at Manyoni. In September 2025, Moab announced a 25% increase in the project’s Mineral Resource Estimate (MRE), which now stands at 27.19 million pounds of uranium (U₃O₈) at an average grade of 139 parts per million (ppm). This upgrade underscored the growing potential of the broader project area, which the new tenements are now set to complement.
“Transferring these four highly prospective AuKing tenements to our subsidiary, Katika Resources, is a key step in consolidating a strategic uranium holding with multiple exploration targets,” said Moab Managing Director Malcolm Day. “We are now planning an active 2026 program to advance the project.”
The newly acquired tenements are not greenfield exploration ground. Historical drilling campaigns, previously conducted by Uranex NL in 2010, identified exploration targets known as Prospects E, F, and G. While these estimates were announced prior to the implementation of the JORC 2012 code and will require modern verification, they provide a strong foundation for Moab’s upcoming work programs. The targets are associated with a series of palaeochannels linked to a broader northwest-trending drainage system known to be prospective for this style of uranium deposit.
Active 2026 Program Planned
With the tenements now under its control, Moab is gearing up for a busy exploration season. The company’s planned activities, subject to ongoing funding, include:
– Metallurgical Testwork: Shipping core samples to a suitable Australian laboratory to conduct metallurgical testwork on the Manyoni deposit, a critical step in understanding the processing characteristics of the ore.
– Step-Out and Validation Drilling: Commencing drilling immediately adjacent to Moab’s existing tenure within the new AuKing ground to verify historical drilling results and test high-priority targets.
– Maiden Resource Estimation: Working towards declaring a maiden Mineral Resource Estimate for the newly acquired tenements.
The Manyoni Uranium Project, located in central Tanzania, is 80% owned by Moab, with the remaining 20% held by Tanzanian partner Galo Capital Ltd. Beyond its growing uranium portfolio, Moab holds a 9.30% interest in CAA Mining, which is focused on lithium and gold exploration in Ghana, and owns the Highline Copper-Cobalt Project in Southern Nevada.