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Goviex Uranium Inc V.GXU

Alternate Symbol(s):  GVXXF

GoviEx Uranium Inc. is a Canada-based mineral resource company. The Company is focused on exploring and developing its 100%-owned Muntanga uranium project in Zambia. The Muntanga Project comprises three mining licenses and three exploration licenses with a total combined area of 1,225.9 square kilometers (km2). The three mining licenses include Muntanga, Dibbwi and Chirundu, encompassing 720.5 km2. The Chirundu mining license, which includes the Njame (north and south) and Gwabi uranium deposits, as well as the Kariba Valley (Chisebuka) exploration license. The Muntanga Project contains Measured and Indicated Mineral Resources of approximately 42.6 million tonnes at an average grade of 359 ppm U3O8, containing 33.7 million pounds of U3O8, and an Inferred Mineral Resource of 15.0 million tonnes at an average grade of 330 ppm U3O8, containing 10.9 million pounds of U3O8 in five deposits (Muntanga, Dibbwi East, Dibbwi, Gwabi, and Njame), located over 65 km strike.


TSXV:GXU - Post by User

Post by Traderstock101on Oct 23, 2024 12:04pm
47 Views
Post# 36278680

GoviEX talks uranium recoveries at Muntanga $$$$$$$$$$$$$$$$

GoviEX talks uranium recoveries at Muntanga $$$$$$$$$$$$$$$$

GOVIEX URANIUM ANNOUNCES IMPRESSIVE URANIUM RECOVERIES AT MUNTANGA PROJECT FOLLOWING COLUMN LEACH TEST WORK

GoviEX Uranium Inc. has released positive results from the feasibility study test work undertaken in 2024 for its Muntanga project.

The company has completed an extensive metallurgical test work program at Mintek in South Africa under the supervision of SGS Bateman Pty. Ltd. and SRK Consulting (U.K.) Ltd. The work program was designed to demonstrate the viability of the heap leach process, to validate the historical work that was completed by the previous owners of the project as well as to ensure the results were to a feasibility-study level of confidence.

Highlights:

 

  • The main deposits of Muntanga and Dibbwi East, which account for 80 per cent of the M&I (measured and indicated) resources, achieved uranium recoveries of 90 per cent or better;
  • Results improve confidence on recovery rates and further validate the efficiency of the heap leach process;
  • Very short uranium recovery time frames, with high uranium recoveries occurring within only 20 days;
  • Project benefits from low acid consumption;
  • Results support the potential for small on-off leach pads to be considered for the Muntanga project.

 

Commenting on the results, Daniel Major, chief executive officer of GoviEX Uranium, said: "These positive test work results confirm the straightforward metallurgy at the Muntanga project, improving the accuracy of results which will be used in our feasibility study, due before year-end. With high uranium recoveries of 90 per cent or better for the Muntanga and Dibbwi East deposits and overall low acid consumption, the data provides further confidence in the project's processing design, helping to refine key assumptions and parameters for the upcoming feasibility study."

The discovery of Dibbwi East occurred after the previous column test work was completed in 2013. Drilling conducted between 2021 and 2023 increased the total resource of the Dibbwi East deposit by 60 per cent in contained tonnes. This not only expanded the deposit but also extended it into primary mineralization, in addition to the secondary (oxidized) mineralization that had been the focus of earlier test work.

Test work completed by Mintek included comminution, agglomeration, six-metre sulphuric acid column leaching, ion exchange, and uranium elution and precipitation for each of the six mineralization zones across the Muntanga project, based on fresh material derived from the 2023 diamond drilling program. This test work was considerably more extensive than the previous work undertaken, which was predominantly limited to two-metre leach columns.

The results highlight the high uranium recoveries, low acid consumption and very fast kinetic rates of the mineralized material at the Muntanga project, with the high reported uranium recoveries occurring within 20 days. These results support the potential for small on-off leach pads to be considered for the Muntanga project.

Qualified person statement

The scientific and technical information in this release has been reviewed and approved by Dr. Rob Bowell, a chartered chemist of the Royal Society of Chemistry, a chartered geologist of the Geological Society of London and a fellow of the Institute of Mining, Metallurgy and Materials, who is an independent qualified person under the terms of National Instrument 43-101 for uranium deposits. Dr. Bowell has verified the data disclosed in this news release.

About GoviEX Uranium Inc.

GoviEX is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEX's principal objective is to become a significant uranium producer through the continued exploration and development of its mine-permitted Muntanga project in Zambia.

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