GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) (‘GoviEx’ or the ‘Company’) is pleased to announce that, following a successful drilling program in 2022 on its Muntanga uranium project in Zambia (‘Muntanga Project’), it will expand the scope of the Feasibility Study for the Muntanga Project to include detailed engineering and design.
The Company will also complete the project’s Environmental and Social Impact Assessment (‘ESIA’) update and undertake additional drilling to target mineralisation extensions along sections at the project’s Dibbwi East deposit.
In 2022, the Company conducted an extensive 15,500-metre infill drilling program at the Dibbwi East Deposit, which is targeting conversion of the current 29 million pounds U3O8 from inferred into indicated resources.1 GoviEx will provide an update to its mineral resource estimate in the coming weeks.
Currently, over 4 tonnes of ore samples have been delivered to the Copperbelt University in Zambia where confirmatory metallurgical test work is ongoing. This will be used to support the Feasibility Study process design and costing.
Daniel Major, CEO of GoviEx, said: ‘Our continued progress on the Muntanga uranium project reflects our commitment to responsible and sustainable development in Africa. With the completion of our ESIA and Feasibility Study planned for 2024, we are well positioned to advance this project towards near term production and to become a significant contributor to the global uranium market. We are excited about the potential of the Muntanga Project and the positive impact that it will have on our stakeholders and the local community.’
With the updated mineral resource due in the coming weeks and metallurgical test work underway, GoviEx has appointed Ukwazi Site Services (project manager and mining), SGS Bateman (process design) and SRK UK (power, hydrogeology and heap leach design) as the project team to undertake the Feasibility Study for the Muntanga Project, targeting 2024 for completion. These firms will provide specialized expertise and guidance will help ensure that the final design and development of the Muntanga Project are optimized for efficiency, safety, and sustainability, and ensure that GoviEx’s commitments to ESG are included in the Study.
During 2022, GoviEx committed to updating the ESIA for the Muntanga Project, to bring it to an International Finance Corporation (IFC) standard and to include the Dibbwi East deposit, which was only discovered after the previous ESIA was approved. Most of the baseline studies have now been completed, and Phase One of the Relocation Action Plan is currently underway. As part of last year’s program, GoviEx achieved a significant milestone by successfully submitting and obtaining approval of the Term of Reference document with the Zambia Environmental Management Agency.
GoviEx is currently the only uranium developer with two African mine-permitted projects in development with projected near-term production. Based on the 2017 PEA1, Muntanga’s anticipated output is forecast to be 2.5 million pounds per annum, with Madaouela’s Project in Niger forecast to produce 2.6 million pounds per annum. This places GoviEx in a favorable position within the uranium industry and as an attractive partner for offtakers. We remain dedicated to advancing our projects and delivering value to our stakeholders.
About GoviEx Uranium Inc.
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger and its mine-permitted Mutanga Project in Zambia.
Contact:
Isabel Vilela
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com
