GoviEx Uranium has completed a substantial drilling campaign in support of the ongoing feasibility study for the Muntanga Uranium Project in Zambia.
In 2023, the GoviEx conducted 15,835 meters of infill drilling, primarily at the Dibbwi East and Muntanga deposits, aiming to upgrade mineral resource categories in previously inferred areas due to improved drill hole spacing and open pit expansion.
The current infill drilling program’s results suggest the possibility of converting inferred mineral resources into the specified categories.
The technical work is on track to complete the feasibility study and ESIA in 2024, with the goal of starting uranium production within two years of securing financing.
The field work was conducted following a successful 2022 drilling program.
— GoviEx (@GoviExUranium) January 3, 2024
Daniel Major, GoviEx Uranium CEO, commented:
“We are very pleased with the results of the recent infill drilling campaign, which indicates strong potential for the conversion of more mineral resources from the inferred into the indicated categories, which would mean these upgraded mineral resources can be included in the upcoming feasibility study, increasing the size and quality of the project.
“With uranium prices strengthening, we are continuing to progress with the development of the Muntanga project and looking forward to delivering a feasibility study next year with a goal to start producing within two years of securing financing.”
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