The Vancouver-based company told shareholders that “significant” gold in soil anomalies indicate potential extensions of the Sirabaya West and Siribaya-Bambadinka gold trends and may intersect within the Falea project.
The presence of the anomalies occurring along with similar structural trends as the Falea project positively signals its mineral potential, GoviEx said in a release.
READ: GoviEx Uranium remains optimistic on delivering updated prefeasibility study on Madaouela project in Niger
According to executive chairman Govind Friedland, the development of the Madaouela uranium project in Niger remains GoviEx's primary focus, but the company is committed to creating shareholder value amidst a favourable gold price environment.
“This initial gold soil sampling program has yielded exciting results in areas outside the previous uranium exploration zone,” Friedland told investors.
“The uranium mineralization at Falea has historically been interpreted as an unconformity type uranium deposit due to its association with the unconformity between the Taoudeni basin meta sediments and the underlying Birimian greenstones,” Friedland added.
“However, the evidence that the gold anomalies associated with the Birimian greenstones apparently underlays the uranium-copper-silver mineralization of the Falea project is a compelling development well worthy of a drilling program to test the model and gold content on our ground."
Along with prior geochemical results and geological mapping, the results will be used to design an initial drill program on the property to test both the soil and termite anomalies.
GoviEx said it will also resample Birimian intervals from existing drill core from the Falea deposit to investigate the polymetallic potential of the deposit below the unconformity once the local wet season ends.
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