JOHANNESBURG (miningweekly.com) – TSX-V-listed GoviEx Uranium has been granted an exploration permit for its Agaliouk tenement, adjacent the Madaouela project, in Niger.
Agaliouk adds 11.67-million pounds triuranium octoxide (U3O8) in the measured and indicated categories and 9.35-million pounds U3O8 in the inferred category to the Madaouela project.
“The mineral resource statement for the Madaouela project now reflects aggregate mineral resources of 110.76-million pounds U3O8 measured and indicated and 27.66-million pounds U3O8 inferred,” said GoviEx CEO Daniel Major in an update to shareholders on Wednesday.
Excluding the Agaliouk exploration permit, the fully permitted Madaouela project, as outlined in the company’s 2015 development plan, proposes a base case that envisions a 2.69-million pounds a year U3O8 yellowcake production rate over an 18-year mine life, and total production of 45.6-million pounds U3O8 with forecast cash operating costs of $24.49/lb U3O8, excluding royalties.