Lotus Resources kicks off first drilling in 15 years at Kayelekera uranium project

Lotus Resources kicks off first drilling in 15 years at Kayelekera uranium project

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 […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • 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 take our Terms of Use seriously
Do Not
  • 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

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet