GoviEx Uranium Inc (CVE:GXU) (OTCQB:GVXXF) (FRA:7GU) said initial gold exploration at its Falea uranium project in Mali had shown some "very remarkable intercepts", which warranted following up.
International Drilling Company sunk 142 holes for 6,354 metres (m) in an air-core program to test areas at the Madini licence at the project.
The highlight intercept was 3.98 grams per ton (g/t) gold over 2m starting from a depth of 8m in one hole and there were a "number of interesting continuous lengths of lower grades".
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"The results of this initial early-stage exploration gold program have come back with some compelling and positive assay results, which are exciting as they correlate well to the gold-in-soil and VTEM geophysical anomalies," said Govind Friedland, GoviEx's executive chairman in a statement.
"These preliminary results are very encouraging and certainly warrant further exploration, particularly given the evidence that this ties into a larger regional system that hosts a tier-one gold trend."
All holes were sited, based on previously reported soils and termite gold anomalies, and went no deeper than 60m. Another hole showed 10m at 0.57 g/t gold from 12m.
The multi-element Falea project comprises three exploration permits, called Falea, Bala and Madini. At the latter, there has been limited exploration.
At the project, there is confirmed uranium, silver and copper resources associated with sandstones.
GoviEx is focused on its flagship mine-permitted Madaouela project in Niger, its mine-permitted Mutanga project in Zambia, and its Falea project in Mali.
Contact the author at giles@proactiveinvestors.com