GoviEx Uranium Inc (CVE:GXU) (OTCQB:GVXXF) (FRA:7GU) has executed a contract with Hydro Tech Drilling & Exploration (Z) LTD to undertake exploration and resource delineation drilling program at its Mutanga Uranium Project in Zambia.
“The Project benefits from very simple and straightforward operations due to low-waste stripping, low acid consumption and potentially one of the lowest capital expenditure requirements of its African peers needed to get into production,” CEO Daniel Major in a statement.
“The mine plan currently forecasts an 11-year mine life and the drill targets identified through trenching, in known uranium intersections, indicate potential for resource extension, making this a potential long-life project.”
READ: GoviEx Uranium begins 13,000 metre drill program at Madaouela ahead of planned feasibility study
Major added that considerable metallurgical test work has already been undertaken to a pre-feasibility study standard.
GoviEx said it has planned an 8,000 metres (m) down-hole percussion drilling program, focused on the Dibwe East deposit and new areas defined by previous trench sampling east of Dibwe East.
The objectives of the program are:
- To upgrade the mineral resource associated with the Dibwe East deposit from an Inferred to an Indicated category, allowing its inclusion in a Feasibility Study. Drilling will be carried out based on a 100m x 50m grid to an average depth of 110m. The Dibwe East deposit currently contains 43.1 Mt of ore at an average grade of 304 parts per million (ppm) of contained uranium (U3O8) for 28.9 million pounds (Mlb) U3O8; and
- To undertake exploration drilling on three trenches on strike and to the east of Dibwe East, which have previously shown anomalous uranium.
GoviEx said Hydro Tech is a Zambian-based drilling company that specializes in groundwater and exploration drilling and has been operating for seven years. Also, Terratec Geophysical Services Namibia will provide down-hole logging services.
In addition, the company said it will start the installation of water points in the nearby village of Hachibozu, which will include drilling a water well and the installation of a wind pump and a water tank. This is part of the company's CSR program and aims to help facilitate access to water within the village.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham