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URANIUM FIRM SEALS DRILLING CONTRACT

By BUUMBA CHIMBULU

A Canadian firm, GoviEx Uranium, has executed a drilling contract with Hydro Tech Drilling and Exploration (Z) Limited to undertake exploration in the company’s Mutanga Uranium Project in Zambia.

Hydro Tech will also deal with resource delineation drilling programmes focused at the company’s Mutanga Uranium Project in Zambia.

Hydro Tech is a Zambian drilling company that specialises in groundwater and exploration drilling and has been operating for seven years.

With the reissued Chirundu Mining Permit, GoviEx is keen to get back to advancing the Zambian assets with the development of Mutanga, says company Chief Executive Officer, Daniel Major.

Mr Major said the project benefits from simple and straight forward operations due to low-waste stripping, low acid consumption and potentially one of the lowest capital expenditure requirements of its African peers needed to get into production.

“The mine plan currently forecasts an 11-year mine life and the drill targets identified through trenching, in known uranium intersections, indicate potential for resource extension making this a potential long-life project.

“Furthermore, considerable metallurgical test work has already been undertaken to a pre-feasibility study standard, providing considerable confidence on the process route considered,” he said in an update on the project.

The Ministry of Mines recently reinstated the licence for GoviEx to mine uranium in Chirundu.

The reinstatement of the licence was however subject to completion of certain exploration and development milestones to advance the license towards final feasibility study.

GoviEx had pledged to reinvigorate the development of the Mutanga Project in Chirundu, starting with targeted resource exploration drilling later this year.

GoviEx has planned a 8,000 metre down-hole percussion drilling program, focussed on the Dibwe East deposit and new areas defined by previous trench sampling east of Dibwe East.

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