URANIUM PROJECT POSTS POSITIVE RESULTS
GOVIEX, a Canadian mineral resource company, has reported positive drilling results at its uranium project in Zambia with potential to extend the mineralised zone, beyond the initially interpreted ore boundary.
The company is currently pursuing three uranium projects expected to commence in
Southern Province at cost of US$160 million.
It has acquired three mining licenses to mine the commodity in Chirundu, Muntanga and Kariba Valley.
Current results show that the Mutanga Project area is still prospective for potential discoveries, and further target generation exercises are currently being undertaken.
This is according to the company Chief Executive Officer, Daniel Major.
He stated that GoviEx’S corporate strategy remained
focused on the development of two uranium projects in Niger and Zambia as the fundamentals of the of the commodity market recover.
Mr Major said the drill results showed potential to extend the mineralised zone beyond the initially interpreted ore boundary in some sections, especially
as several holes finished in mineralisation.
“Based on this very positive result we plan, during 2022, to complete the infill resource drilling Dibwe East as well as upgrade the previously completed process work to a feasibility study level of confidence.
“Having two mine permitted projects; Madaouela uranium project in Niger and the Mutanga Project, in Zambia - GoviEx has a strong project pipeline and is well positioned as we see the uranium market price improving toward its projected longterm trend,” he said in an update on the mine.
The infill drilling campaign, which started in May 2021, was aimed at upgrading the inferred mineral resources associated with the Dibwe East deposit to an indicated mineral resource for inclusion into a planned feasibility study for the Mutanga Project.
Mr Major indicated that the Mutanga project benefited from being a technically straight forward project due to its low-waste stripping ratio and acid consumption and with a low capital efficiency per pound of forecast annual uranium production.
“The consistency of ore zones and uranium grade reported from this initial infill drilling campaign underpins our confidence in the upgrading potential of mineral resources from an inferred to an indicated category in the Dibwe East, but also indicates potential to extend the mineralized zone, especially to the southwest, beyond the initially interpreted ore boundary,” he said.