GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) CEO Daniel Major joined Proactive to provide an update on its exploration efforts in Zambia.

Major noted that the company is nearing completion of the feasibility study for the Muntanga project, emphasizing strong test results with over 90% recoveries and low acid consumption.

Proactive: We’re here at Resourcing Tomorrow 2024. Joining me in our studio is Daniel Major, the CEO of GoviEx Uranium. Daniel, great to see you in the studio here today. So what are you doing at Resourcing Tomorrow?

So, tell us about some of the conversations you’re having then with suppliers and potential investors.

Well, on the investor side, we’re waiting to complete the feasibility study for Muntanga. That will be coming out very shortly. I’m really delving into the numbers as we speak. During this event, I’ve been heavily focused on that.

We’ve also been meeting with engineering companies who are interested in bidding for things like the engineering work. Power companies are here too, looking at options like solar power. There are a number of different conversations happening here with various groups.

And of course, you have a number of irons in the fire in Zambia. Daniel, take us through what’s happening at East Zambia in the meantime.

The overall Muntanga project, which includes the East deposit, is really now in the final stages of the feasibility study. We announced very strong test results earlier—over 90% recoveries with low acid consumption. Most of the major capital infrastructure costs are in, and we’re finalizing the optimization and economic modeling.

AMC is doing the ESG baseline studies, and we’re on track to file our ESG plan early next year. Additionally, the relocation action plan for the local communities has been initiated, with the cut-off date set, and we’re working closely with the communities on the program.

More recently, you announced the option for 51% of the underexplored license in Zambia. Tell us about the potential you’re seeing there.

It’s an interesting opportunity for us. This area is part of the Karoo sand structure that spans from Tanzania through Zambia and Namibia. Although there are projects in countries like Malawi, Zambia’s east side remains largely untapped.

We acquired historical exploration data, which showed radiometric anomalies that hadn’t been followed up. This gives us a chance to investigate the geological structure and potentially expand our prospects. We also have other properties near Muntanga, like Kariba Valley and the Toronto extension.

How are you seeing the dynamics for the uranium market, particularly with respect to the energy transition?

This year has been transformational for our industry. Nuclear energy has gained a lot of traction globally, with governments extending reactor lifespans. The International Energy Agency (IEA) released strong forecasts this year, and we’re already in a supply deficit. Big funds are now investing in nuclear energy, which is helping to normalize uranium and nuclear within the energy transition conversation. Projects like Muntanga will play a crucial role in addressing this supply deficit.

Quotes have been lightly edited for clarity and style