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Resource Expansion Drill Program Tender Underway
Resource Expansion Drill Program Tender Underway.
About this update from Neo Energy Metals Plc
[{"type":"text","content":"\n\nNeo Energy Metals plc / EPIC: NEO / Market: Main Market of the London Stock Exchange\n \n1 December 2023\nNeo Energy Metals plc\n('Neo Energy' or 'the Company')\n \nResource Expansion Drill Program Tender Underway\n \nNeo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce that it has commenced the tender process with a number of short-listed South Africa based drilling contractors for a major resource expansion and resource upgrade drill program (\"Drill Program\") to be completed at its advanced Henkries Uranium Mine (\"Henkries\") located in the Northern Cape Province of South Africa.\n \nOVERVIEW\n· Tender and enquiry documents issued to a number of short-listed South African based drilling contractors for the planned resource expansion and resource upgrade drill program\n· The Drill Program aims to increase the existing JORC Code 2012 compliant Mineral Resource of 4.7 million pounds ('Mlbs') of uranium\n· The Drill Program will comprise of approximately 6,500m of aircore drilling\no 350 drill holes with an average drill hole depths of between 15m to 20m\n· Infill drilling and resource expansion drilling will be completed on both the Henkries Central and Henkries North deposits which extend over 6km of the 37km defined paleochannel that hosts the uranium mineralisation\n· On the 6km strike length of the Henkries Central and Henkries North deposits, approximately 2,000m of infill drilling will be undertaken at drill spacings of 100m\no The aim is to upgrade the resource category to a Measured status\n· A further 2,000m of resource extension drilling will be completed on this 6km of strike length at drill spacings of 200m.\no The aim is to increase the existing JORC Code 2012 compliant Mineral Resources by targeting potential extensions to the existing Henkries Central and Henkries North deposits\n· An additional 2,500m of exploration drilling is planned for Henkries South, which offers significant potential for an increase in JORC Code 2012 compliant Mineral Resources\no Extends for over 25km of the 37km defined paleochannel that hosts the Henkries Central and Henkries North deposits\n· The appointment an...