GoviEx Uranium Inc. (TSX-V: GXU) (OTCQB: GVXXF) announces the results of a review study performed by Synexus (Pty) Limited to identify and assess opportunities to use membrane separation technologies to reduce the capital and operating expenses, as well as increase efficiency in the recovery of uranium and molybdenum, at the Company’s fully-permitted Madaouela Project in Niger.
“The potential operating and capital savings highlighted by the Review, while preliminary in nature, are very encouraging and support our decision to undertake this assessment. This work underlines GoviEx’s strategy to focus on the optimization of the Madaouela Project,” commented Daniel Major, CEO.
The Review considered five options whereby membrane separation could be potentially utilized in the process plant design as set out in the independent NI 43-101 technical report titled, “The Updated Integrated Development Plan for the Madaouela Project, Niger” with an effective date of August 11, 2015, and a revision date of August 20, 2015 published on SEDAR under the Company’s profile and available on the Company’s website at www.goviex.com. The five options described by the Review are as follows:
Synexus’ overall approach and methodology for the Review was to use the existing process design information as set out in the Technical Report for the membrane test data simulation models, which were then used to assess membrane performance for each option.
“I am very pleased with the progress our team has made to date in exploring potential mine design and process optimization opportunities for our Madaouela Project. If these efficiencies prove to be fruitful at the Madaouela Project, we will explore the possibility of applying them at our other fully-permitted project: the Mutanga Project in Zambia,” stated Govind Friedland, Executive Chairman.
Membrane separation could contribute to both capital and operating cost savings because of one or a combination of the following possibilities:
The results of the Review indicate that the inclusion of membrane separation in the Madaouela Project process design, as set out in the Technical Report, could potentially reduce operating and capital costs and hence improve project economics. The results in the Review, while based on the Technical Report inputs, are preliminary in nature and require further technical studies; however, these initial results are of a significant enough scale as to support the inclusion of membrane separation in the next-stage feasibility study for the Madaouela Project.
The Review sets out a series of recommendations, including the following, for GoviEx to consider in determining the possible inclusion of membrane separation in the Madaouela Project’s process design:
The scientific and technical information disclosed in this release has been reviewed, verified, 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 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About GoviEx Uranium
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 flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its other uranium properties in Africa.
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