Announcement Date: 2022-04-12
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Lotus Resources Ltd.
Project name: Livingstonia
Location: Malawi
Commodities: Uranium
Highlight: Drilling results incl. 4m @ 0.0983% U3O8 from 87m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Lotus Resources Limited (ASX: LOT, OTCQB: LTSRF) (Lotus or the Company) is pleased to announce the results of the reverse circulation (RC) drilling program at its Livingstonia prospect, located approximately 90km from the Kayelekera uranium mine (Kayelekera or the Project) in Malawi. Whilst not part of the current Definitive Feasibility Study (DFS), Livingstonia has the potential to become a satellite deposit in the future. The Livingstonia exploration tenements are located in northern Malawi, approximately 90km southeast of the Company’s Kayelekera uranium mine (Figure 1). Combined with the Company’s Chilumba tenements, this region covers 300km In December 2021, Lotus commenced its inaugural uranium exploration drill program at Livingstonia. The program consisted of 3,395 metres in 29 vertical RC drill holes, targeting areas both within and peripheral to the existing Mineral Resource to test the margins of the resource estimate for further extensions. The drilling was caried out by Thompson Drilling Lda (Mozambique) with downhole radiometric (gamma) logging undertaken by experienced local contractors under the supervision of Lotus geologists.
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