- GoviEx Uranium (GXU) has completed its initial drilling campaign at the Mutanga uranium project in Zambia
- Drilling was intended to upgrade the inferred mineral resources at Dibwe East to an indicated mineral resource
- So far, a total of 65 holes have been drilled over 8,060 metres
- GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa
- GoviEx Uranium Inc. (GXU) is up 9.09 per cent, trading at $0.42 per share
GoviEx Uranium (GXU) has completed its initial drilling campaign at the Mutanga uranium project in Zambia.
The infill drilling campaign took place at the Dibwe East deposit, one of five deposits on the Mutanga project.
Drilling was intended to upgrade the inferred mineral resources at Dibwe East to an indicated mineral resource. The company plans to include the new indicated mineral resources in the upcoming feasibility study on the Mutanga Project.
So far, a total of 65 holes have been drilled over 8,060 metres to an average depth of 124 metres.
Daniel Major, CEO of GoviEx Uranium, commented on the program, saying,
“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.”
In addition to the infill drilling at Dibwe East, GoviEx also explored three trenches along strike and to the east of the deposit in an area where previous anomalous uranium has been discovered at surface.
The company plans to continue to explore this area to assess its variability across the mineral resources.
“Based on this very positive result,” said Mr. Major, “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.”
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa.
The company’s portfolio includes its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.
GoviEx Uranium Inc. (GXU) is up 9.09 per cent, trading at $0.42 per share as of 3:13 am ET.
