GoviEx Uranium Inc. is pleased to announce that it has filed a technical report titled “NI 43-101 Technical Report On the Updated Mineral Resource Estimate for The Muntanga Uranium Project in Zambia” dated effective 31 March, 2023.
The drilling update, released on July 17, 2023, marked a significant milestone for GoviEx, with Measured & Indicated resources nearly tripling, increasing from 29% to 74% of total resources. Additionally, total in-pit constrained resources increased by 18%, whilst all mineral categories enjoyed a grade improvement. These positive outcomes were largely a result of rigorous and strategic drilling campaigns undertaken in 2021 and 2022, with the Dibbwi East deposit as the primary focus.
Daniel Major, CEO of GoviEx, commented, “The Muntanga Project continues to exceed our expectations, and the latest results from our drilling efforts only solidify our belief in its potential. We’re looking at a resource that’s not just quantitatively significant but of superior quality. What’s more exciting is that this upward trajectory in resource growth persists even under lower uranium prices, such as the USD50/lb used in our Preliminary Economic Assessment (PEA)1. There is also additional potential for further upgrading of inferred resources, thereby expanding the resources that can be included in the feasibility study. These are very promising results and will be integrated into our ongoing feasibility study.”
The updated MRE for the Muntanga Project is a testament to GoviEx’s strategic focus and commitment to maximizing the potential of its vast resource base. As the only uranium developer with two African projects ready to begin development and near-term production, GoviEx is well placed to benefit from future growth.
