Lotus completes its drilling programme at Letlhakane

ASX- and OTCQX-listed Lotus Resources has completed its infill and exploration drilling programmes at the Letlhakane uranium project, in Botswana.

The company reported on November 12 that it had drilled 21 holes at Letlhakane.

The mineral resource estimate (MRE) at Letlhakane, constrained by pit shells based on reasonable prospects of eventual economic extraction, stands at 155.3-million tonnes grading 345 ppm triuranium octoxide (U₃O₈), containing 118.2-million pounds of U₃O₈, of which 34.4-million pounds, or 29%, are classified as indicated mineral resources.

Lotus highlighted that infill drilling at Gorgon West had confirmed continuity, with further thick zones of uranium mineralisation intersected. Exploration drilling in the western part of the mining lease, which tested historical intercepts outside the current mineral resources, showed uranium mineralisation in all holes drilled, with intercepts reaching up to 1 128 ppm equivalent U₃O₈ (eU₃O₈).

Noteworthy drill intersections at Gorgon West included hole GODD0102, which intersected 4.22 m at 414 ppm eU₃O₈ from 68.7 m, including a 1.30 m interval at 1 084 ppm eU₃O₈ from 79.9 m; hole GODD0107, which intersected 11.8 m at 267 ppm eU₃O₈ from 85.2 m; hole MOKR2681, with 7.7 m at 355 ppm eU₃O₈ from 69.2 m; and hole GODD0107, which returned 5.1 m at 345 ppm eU₃O₈ from 72.4 m.

Additional significant reverse circulation drill intersections from the exploration target included hole MOKR2678, which returned 2.4 m at 805 ppm eU₃O₈ from 97.8 m and 2.6 m at 645 ppm eU₃O₈ from 108 m; hole MOKR2683, which intersected 2.9 m at 463 ppm eU₃O₈ from 78.3 m; and hole MOKR2673, which returned 4.07 m at 340 ppm eU₃O₈ from 41.4 m.

All additional infill drill holes intersected mineralisation, supporting continuity and grade as Lotus said it was working to upgrade the Letlhakane MRE classification. An update to the Letlhakane MRE is under way, integrating recent drilling results, and is expected to be completed later this month.

Lotus said it was also conducting trade-off studies for Letlhakane, covering aspects such as acid consumption, downstream process optimisation and mining methodology. The company said it planned to provide an update on these studies in the fourth quarter.

Additionally, Lotus is assessing the feasibility of in-situ recovery (ISR) extraction, with a potential future field leach trial under consideration.

In parallel with Letlhakane's development, Lotus said it was advancing efforts to restart uranium production at Kayelekera, in Malawi.

“Our infill programme at Letlhakane has delivered . . . results, with 162 out of 164 holes drilled intersecting uranium mineralisation. This confirms the continuity and grade of this substantial uranium resource.

“We are also excited about our exploration drill programme delivering mineralised intercepts across all holes drilled. We will be further assessing this to see if additional mineral resources can be ascribed to this area.

“We are now focused on updating the MRE, while also progressing metallurgical testing and evaluating the potential for ISR extraction for the deeper portions of the orebody,” Lotus CEO Greg Bittar said.