- GoviEx (GXU)Refocuses resource and geotechnical drilling at Madaouela in Niger
- GoviEx has planned a 13,000 metre drilling program, with a combination of rotary mud and diamond core drilling
- Additionally, the GoviEx has prepared one tonne of ore samples, which are due to be sent to South Africa
- GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa
- GoviEx Uranium Inc. (GXU) is down 1.72 per cent and is trading at C$0.28 at 11:27 am ET
GoviEx Uranium Inc. (GXU) has signed drilling contracts with ESAFOR and FORACO related to its Madaouela Uranium Project's feasibility study.
"Based on our view that the uranium market fundamentals are demonstrating continuous improvement, we have decided to move straight on to the completion of the feasibility study required to secure project financing," stated Daniel Major, Chief Executive Officer.
"As a result, our priorities for the advancement of Madaouela include a drilling program designed to further our understanding of the molybdenum mineralization of the Project and confirmatory metallurgical test work," added Major.
GoviEx has planned a 13,000 metre drilling program, with a combination of rotary mud and diamond core drilling, to an average depth of 100 metres. This drilling program, located at the Miriam deposit, will focus on three main objectives:
- Drilling a 50-metre grid within the planned open-pit shape to confirm an indicated mineral resource for molybdenum mineralization.
- Final corroboration of Miriam's geotechnical slope design, which was steepened from 51 degrees to 53 degrees in the Update PFS.
- Verification of whether Miriam dewatering is sufficient to support process water requirements rather than developing a standalone well field is currently assumed given the reduced water usage defined in the Updated PFS.
The planned drilling program will be performed by l'Entreprise Sidi Abdoul Aziz de Forage, and FORACO NIGER S.A.
ESAFOR, a Nigerien drilling company, has completed substantial previous drilling for GoviEx, having completed over 620 thousand metres of exploration and resource drilling on the Project area.
FORACO, a Nigerien subsidiary of Foraco International SA, a French drilling company, has concluded extensive exploration work on several nearby uranium deposits in Niger.
The first drill rig is expected on site by May 1, 2021, and it is anticipated that the total program will last approximately five months.
Additionally, the GoviEx has prepared one tonne of ore samples, which are due to be sent to South Africa, for Feasibility Study metallurgical test work.
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa.
GoviEx Uranium Inc. (GXU) is down 1.72 per cent and is trading at C$0.28 at 11:27 am ET.