Dual-listed GoviEx Uranium has completed the initial infill drilling campaign at the Dibwe East deposit at its wholly owned, mine permitted Mutanga uranium project, in Zambia.
Mutanga comprises of three mining permits that cover about 720 km2 and contains five deposits – Dibwe, Dibwe East, Mutanga, Gwabe and Njame.
Drilling indicates that mineralisation is continuous from hole to hole and section to section and shows a very close correlation to the current inferred resource interpreted ore boundaries.
Average reported grades, after taking into account disequilibrium, is 330 ppm eU3O8, highlighting the consistency of the deposit.
Drill results show potential to extend the mineralised zone beyond the initially interpreted ore boundary in some sections, especially as several holes finished in mineralisation.
The Mutanga project area is still prospective for potential discoveries and further target generation exercises are currently being undertaken.
GoviEx’s infill drilling campaign, which began in May, was aimed at upgrading the inferred mineral resources associated with the Dibwe East deposit to an indicated mineral resources for inclusion into a planned feasibility study for the Mutanga project.
A total of 65 holes for 8 060 m were completed using down the hole percussion drilling to an average depth of 124 m on a 100 m x 50 m grid.
“The Mutanga project benefits from being a technically straightforward 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,” CEO Daniel Major says.
“Based on this very positive result, we plan, during 2022, to complete the infill resource drilling at Dibwe East, as well as upgrade the previously completed process work to a feasibility study level of confidence.
“Having two mine permitted projects – the 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 long-term trend,” he adds.