Lotus Resources confirm positive results on Letlhakane Uranium Project
Lotus Resources Limited has reported encouraging results from 35 additional drill holes at its Letlhakane Uranium Project in Botswana. With 144 holes completed so far, including 134 reverse circulation (RC) and 10 diamond drill holes, the latest data reveals thick uranium mineralization zones starting near the surface.
Report
The current Mineral Resource Estimate (MRE) for the project stands at 155.3 million tonnes at an average grade of 345 ppm U₃O₈, amounting to 118.2 million pounds of U₃O₈, with 29% classified as indicated resources.
The results confirm the continuity and grade of uranium mineralization at Letlhakane, with 141 out of 144 holes intersecting mineralization. Lotus is also conducting diamond drilling at Gorgon West and Serule West for metallurgical testing and quality assurance. Exploration drilling has started in the western portion of the mining lease to test new targets outside the current resource envelope.
The infill drilling program is expected to conclude in September 2024, with an updated MRE scheduled for completion in November 2024. The company is working on a scoping study for the Letlhakane project, aiming for delivery in the first half of September 2024. Lotus is advancing Letlhakane’s development alongside the restart of uranium production at its Kayelekera project in Malawi.
