- GoviEx (GXU) has contracted Foraco Mali to undertake exploration drilling at the Falea Polymetallic Copper-Silver-Uranium project
- Foraco Mali has been contracted to carry out 6,000 metres of diamond core drilling to an average depth of 600 metres
- The program is expected to take six months to complete
- GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa
- GoviEx Uranium Inc. (GXU) is down 3.91 per cent, trading at C$0.31 at 11:02 am EST
GoviEx Uranium (GXU) has engaged Foraco Mali to undertake a 6000-meter drilling program at the Falea Polymetallic Copper-Silver-Uranium project.
In December 2020 and August 2021, it announced the results of geophysical survey and data inversion analysis by Computational Geosciences.
This highlighted a large chargeable body over 2 km in length and 500 m wide underneath the deposit on the Falea Project adjacent to the Road fault.
Additionally, the results of the geophysics highlighted a second anomaly aligned with a structural feature associated with the Siribaya trend as well as the potential for a chargeable body in the northeast area of the Bala exploration license.
The geophysical results corroborated geological interpretation that both Falea and Bala licenses appear to be highly prospective for increased polymetallic uranium-copper-silver mineralization.
In addition, an assay program of historical diamond drill cores below the known uranium mineralization of the deposit, reports both copper and gold mineralization.
It is believed that the deposit results from mineralizing fluids intruded via the faults in the area to deposit at suitable trap sites at the unconformity within the overlying rocks.
Previous historical drilling programmes have not tested for the presence of mineralized bodies below the unconformity within the Birimian. These will now be tested during the drilling campaign.
Govind Friedland, Executive Chairman of GoviEx, said,
“The IP results and initial samples indicate that our current known resources could be just the tip of the iceberg on this deposit, which already contains 31 million pounds of uranium, 63 million pounds of copper and 21 million ounces of silver.”
The Falea Project consists of three Exploration Licenses; Falea, Bala and Madini, in southwest Mali and is situated along strike to a number of gold mines and exploration projects and the Saraya East uranium project in Senegal.
The Falea polymetallic mineralization contains uranium, copper, and silver that has been defined at or near the unconformity between the Taoudeni basal sediments and the underlying metamorphic rocks of the Birimian aged sequences.
Drilling that stopped only a few metres beyond the ore body – but within the Birimian rocks – are shown to contain copper and gold based on assays received to date.
Foraco Mali has been contracted to carry out 6,000 metres of diamond core drilling to an average depth of 600 metres, focused on two geophysical anomalies within the Birimian sequence below the Falea polymetallic deposit on the Falea licence and one anomaly on the Bala licence.
The program is expected to take six months to complete.
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa.
GoviEx Uranium Inc. (GXU) is down 3.91 per cent, trading at C$0.31 at 11:02 am EST.
