GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) has said it will be expanding the scope of the Feasibility Study for its Muntanga uranium project in Zambia following a successful drilling program conducted in 2022, which targeted mineralisation extensions at the project's Dibbwi East deposit.
The company said it plans to include detailed engineering and design in the study and complete the project's Environmental and Social Impact Assessment (ESIA) update.
"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," Daniel Major, CEO of GoviEx said in a statement.
"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," he added.
The 2022 drilling results indicated that the Dibbwi East deposit remains open, prompting GoviEx to conduct additional drilling to further understand the deposit's potential. The company plans to conduct 7,000 meters of mud rotary drilling to target areas of open mineralisation at the deposit.
In addition, over 4 tonnes of ore samples have been delivered to the Copperbelt University in Zambia for confirmatory metallurgical test work. This test work will support the Feasibility Study process design and costing.
To undertake the Feasibility Study, GoviEx has appointed Ukwazi Site Services as the project manager and mining consultant, SGS Bateman for process design, and SRK UK for power, hydrogeology, and heap leach design. These firms will provide specialized expertise to optimize the design and development of the Muntanga Project, ensuring efficiency, safety, and sustainability while incorporating GoviEx's commitments to environmental, social, and governance (ESG) practices.
With two African mine-permitted projects in development, GoviEx is well-positioned within the uranium industry and is an attractive partner for offtakers. The updated mineral resource estimate for the Muntanga Project is expected to be released in the coming weeks.
Contact the author at jon.hopkins@proactiveinvestors.com