URANIUM PROJECT BOOSTED
GOVERNMENT
has renewed the Kariba Valley exploration permit to mine uranium by Canada’s GoviEx Uranium which was cancelled in July 2020.
Under the license, the company is pursuing three uranium projects in Southern Province’s Chirundu, Muntanga and Kariba Valley at a cost of over US$160 million.
In Zambia, GoviEx received the renewal of the Kariba Valley exploration permit as well as initial positive feedback from the Ministry of Mines, says company executive chairman, Govind Friedland.
Mr Friedland said the licence regarded the Chirundu mining licence.
“The company will report further details when available,” Mr Friedland said in a statement.
GoviEx’s principal objective is to become a significant uranium producer through exploration and development of its flagship mine-permitted Madaouela Project in Niger, mine-permitted Mutanga Project in Zambia, and the multi-element Falea Project in Mali.
Meanwhile, Mr Friedland said the inclusion of the company shares in key uranium and nuclear indices was a vote of confidence in the institution and its assets.
“With our recently completed financing, GoviEx is very well positioned for the continued advancement of our project pipeline,” he said.
Mr Friedland said the updated pre-feasibility Study for the Madaouela project in Niger was rapidly nearing completion and upon thorough review, would be released.
In Mali, he explained, the company was working with International drilling to ramp up a 6,000 metre air-core drilling programme expected to commence this coming week.
“Our team of geologists are targeting near-surface gold-bearing structures that are along strike of the Siribaya trend at the Company’s Madini permit which forms part of the Falea Project.
“In addition to the gold targets, Falea remains a very exciting uranium silver copper exploration play with known resources that while currently are considered unconformity type deposit have potential for IOCG style mineralisation,” Mr Friedland.