(NewsDirect)
GoviEx Uranium Inc CEO Daniel Major joinedProactive's Steve Darling to share significant news news regardingthe updated Mineral Resource Estimate for the Muntanga uranium projectin Zambia. Muntanga comprises three mining permits and encompassesfive deposits: Dibbwi, Dibbwi East, Muntanga, Gwabi, and Njame.
Major informed Proactive that the updatedMeasured and Indicated resources have nearly tripled, now representing74% compared to the previous 29% of the total resources. Additionally,the total in-pit constrained resources have increased by 18%.
The company stated that based on a uraniumprice of USD50/lb U3O8, which was used to define the mining schedulein the 2017 Preliminary Economic Assessment, the constrained total pitresources amount to 36.5 million pounds of equivalent U3O8. Thisincludes 34 million tonnes at 374 parts per million eU3O8 for 28.4million pounds in the Measured and Indicated category, and 11 milliontonnes at 348 ppm eU3O8 for 8.1 million pounds in the Inferredcategory. These results highlight the robustness of the mineralresources at the Muntanga project.
Major emphasized that the updated Mineral Resource Estimate wasthe result of extensive work, including infill drilling. In 2021, atotal of 8,010 meters were drilled, followed by an additional 19,990meters of drilling in 2022. The company's dedication to advancingits understanding of the project's mineral resources has beeninstrumental in the significant resource increase.
The updatedMineral Resource Estimate reinforces the potential of Muntanga andunderscores GoviEx Uranium's commitment to developing a robust andeconomically viable uranium operation. As the company continues toadvance its exploration and development activities, it aims to unlockthe full potential of the Muntanga project and contribute to theglobal supply of uranium.
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