GoviEx Uranium (TSX-V:GXU, OTCQB:GVXXF) Inc has revealed results from a geophysics program at its Falea project in Mali that highlights the exploration potential at the polymetallic property.
The Vancouver-based company said the survey showed a large, chargeable body underneath the main deposit, with a length of over two kilometres and 500 metres wide.
More promising indications include the potential for a chargeable body in the northeast area of the Bala license, the company said.
READ: GoviEx Uranium sees 'some very remarkable intercepts' in Falea project exploration drilling
The company noted that the induced polarization (IP) program highlighted the “much shallower depth to basement and associated unconformity.”
GoviEx believes both the Falea and Bala areas are prospective for unconformity-type polymetallic uranium-copper-silver deposits.
Falea already contains an indicated resource containing 17.4 million pounds uranium, 24.4 million pounds copper and 16.1 million pounds silver, and an inferred resource of 13.4 million pounds uranium with copper and silver mineralisation.
GoviEx executive chairman Govind Friedland noted that a drill core assay program last year also highlighted gold mineralisation associated with the faulting.
“This IP survey clearly highlights the exploration potential for the Falea project both for further unconformity based targets and deeper chargeability targets with uranium, copper, silver and gold mineralisation achievable," Friedland said in a statement.
GoviEx also owns its flagship mine-permitted Madaouela project in Niger and its mine-permitted Mutanga project in Zambia.
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