A 5,000 metre RC drilling program will commence this week at Lotus’ Kayelekera uranium project. Lotus Resources (ASX: LOT) will this week begin a 5,000m drilling program at its Kayelekera uranium mine in Malawi, the first uranium exploration drilling program at the project in more than 15 years.
This is the next stage in the company’s plan to re-open the mine’s after more than six years in mothballs.
Lotus has a current resource of 376.5 million pounds of uranium oxide.
Reverse circulation drilling will test airborne radiometric anomalies located close to the existing processing plant and will aim at increasing the project’s 14-year mine life forecast.Lotus says a regional uranium exploration assessment is also under way. Mining can proceed on existing resource This includes a more detailed review of the historical data available on the four most prospective exploration licences, together with mapping, radiometric prospecting and sampling.However, managing director Keith Bowes notes […]
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content