Allgemein

06.07.2020

Vancouver, British Columbia–(Newsfile Corp. – July 6, 2020) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) (“GoviEx” or, the “Company“) is pleased to announce that a recent gold geochemical sampling program at the Company’s Falea (Uranium-Copper-Silver) project in Mali (the “Falea Project“) has highlighted significant gold in soils anomalies that show the potential extensions of the Sirabaya West and the Siribaya-Bambadinka gold trends through, and potentially intersecting within, the Falea Project. The presence of these gold in soils anomalies occurring along similar structural trends with the Falea Project, positively signals the mineral potential of the Falea Project.

“The development of the Madaouela Uranium Project in Niger (the “Madaouela Project“) remains GoviEx’s primary focus; however, with current gold prices approaching $1,800/oz and climbing, creating shareholder value on all of our projects remains a core driver to our strategy. This initial gold soil sampling program has yielded exciting results in areas outside the previous uranium exploration zone. The uranium mineralization at the Falea Project has historically been interpreted as an unconformity type uranium deposit, since it is associated with the unconformity between the Taoudeni Basin meta sediments and the underlying Birimian greenstones. 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.” noted Executive Chairman, Govind Friedland.

A soil and termitaria sampling was completed on the Falea and Madini exploration licenses during May and June 2020. The recent assay results received, have been validated and compiled. These results endorse previous work carried out on the project by the previous owners in 2011. They clearly show gold in soil anomalies appear to be a continuation of both the Siribaya West and the Siribaya-Bambadinka gold trends.

Furthermore, while conducting the sampling program GoviEx geological team, discovered small scale active artisanal gold workings, giving the Company further encouragement on the presence of gold in the area, especially as these workings correlated closely to the measured soil anomalies.

 

Figure 1: Location of the Falea Project in relation to surrounding known deposits and mines.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5017/59109_bb2dd8f6642f9935_002full.jpg

The results for both soil and termite sampling presented in figure 2 below. These results, along with prior geochemical results and geological mapping, will be used to design an initial drill program to test both the soil and termite anomalies. This drill program is anticipated to consist of air core, reverse circulation and RAB drilling, as warranted. A resampling of Birimian intervals from existing drill core from the Falea deposit will also be carried out as soon as the local wet season ends to investigate the polymetallic potential of the deposit below the unconformity.

Figure 1: Location of the Falea Project in relation to surrounding known deposits and mines.

 

Figure 2: Gridded image of the compiled results of the 2011 and 2020 soil and termitaria sampling.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5017/59109_bb2dd8f6642f9935_003full.jpg

 

Please read the complete press release here: LINK

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