Lotus Resources Ltd to begin exploration drilling at Kayelekera uranium project

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After completing the uranium program, the company will move the platform to its rare earth targets in Milenje for an initial follow-up of the positive results obtained while sampling the reconnaissance trenches.

Ltd () (OTCMKTS: LTSRF) is about to begin a reverse circulation (RC) drilling program of approximately 5,000 meters in a few days on the Kayelekera Uranium project in Malawi.

This will be the first uranium exploration drilling program on the project in more than 15 years, with the company planning to test a number of airborne radiometric anomalies within 3 kilometers of the existing processing facility.

The exploration program aims to test these near-mine targets with the ultimate goal of increasing the current mine life by 14 years.

The project has a lifespan of 14 years

Lotus Managing Director Keith Bowes said: “As the scoping study demonstrated, the Kayelekera project already has a lifespan of 14 years.

“While successful exploration is seen as beneficial for increasing mine life, it is not necessary for resumption of operations.

“Following the uranium exploration drilling program, the company will move the rig to our rare earth targets in Milenje, for the initial follow-up of the positive results returned by the trench sampling program of recognition completed last year.

“An update on rare earth projects is expected to be released later this year.”

Regional exploration assessment

The company also has a regional assessment of uranium exploration underway which includes a more detailed review of historical data available on the four most promising exploration licenses as well as mapping, radiometric prospecting and sampling.

Its 5,000 meter drill program will test three of the individual anomalies and a smaller infill drill program on the western edge of the resource outside of the current mine plan has been included in the program.

The company has identified five radiometric anomalies south of the existing pit, which cover outcrop areas and have signatures similar to the Kayelekera anomaly.

Lotus is also pursuing numerous technical studies, including ore sorting tests and power evaluations.

The initial success of the ore sorting program led to the belief that grades of all potential resources could be reduced from the higher original grades, knowing that ore sorting provides a simple and cost effective method of increasing grades. of power to the plant.

Discovery of rare earths from Milenje

After completing the initial uranium exploration program, the company plans to undertake a drilling program targeted at the rare earth discovery at Milenje to assess the depth profile of the mineralization.

Prior to commencing this program, additional fieldwork, including ground magnetic surveys and modified trenches, will be undertaken to help define drill collar locations and borehole orientation.

To support the assessment of Milenje’s rare earth potential, samples collected from the drilling and trenching program will be used in a rig-scale metallurgical testing program.

If the results of the uranium drilling program are positive, the possibility of conducting a phase 2 uranium drilling program will be considered.

This program would aim to expand the known mineral resources in the extension area and undertake a mineral resource estimate for mineralization in satellite pits.


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