Name of the Project
Muntanga uranium project.

Location
The project is located in the Southern province of Zambia.

Client
GoviEx Uranium.

Project Description
The Muntanga project comprises three contiguous, fully permitted mining licences.

The project contains a measured and indicated mineral resource of 21.6-million tonnes at an average grade of 318 parts per million (ppm) triuranium octoxide (U₃O₈), containing 15-million pounds of U3O8, and an inferred mineral resource of 74.6-million tonnes at an average grade of 273 ppm U₃O₈, containing 45-million pounds of U₃O₈ in six deposits located over a 65 km strike.

A preliminary economic assessment (PEA) has evaluated the economic and technical viability of the project. The PEA envisages the development of openpits at the Muntanga, Dibwe, Dibwe East, Gwabe, Njame and Njame South deposits. Three heap-leach pads will be located at Dibwe East/Muntanga, Dibwe and Gwabe/Njame and a central processing facility between Dibwe East and Muntanga.

The deposits are amenable to conventional, shallow opencast mining methods using excavators and trucks, with relatively low stripping ratios. The project development plan envisions an average production rate of 2.4-million pounds of yellowcake a year over an initial 11-year mine life, with an 88% ultimate uranium recovery rate.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a long-term uranium price of $58/lb U₃O₈, the base case economics for the project are positive and indicate an after-tax net present value, at an 8% discount rate, of $112-million and an internal rate of return of 25%, with a payback of three years.

Value
Initial capital costs have been estimated at $123.4-million.

Duration
Not stated.

Latest Developments
None stated.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
GoviEx Uranium, tel +1 604 681 5529 or 
email info@goviex.com.