Lotus Resources reports promising results at Letlhakane Uranium Project

Lotus Resources Limited (ASX: LOT, OTCQX: LTSRF) has reported the discovery of some of the thickest continuous zones of uranium mineralisation at its Letlhakane Uranium Project in Botswana. The recently revised Mineral Resource Estimate (MRE) for Letlhakane stands at 155.3Mt at 345ppm U3O8 for 118.2Mlb U3O8, with 29% being Indicated Resources.

Executive commentary on Letlhakane drilling results

Lotus CEO Greg Bittar expressed satisfaction with the drilling results, highlighting the confirmation of continuity and grade of uranium mineralisation. He also mentioned the intersecting of the thickest continuous zones of mineralisation seen so far at the deposit, including 26.1m at 265ppm. Bittar further noted the commencement of diamond drilling at Gorgon West for further validation and metallurgical test work, along with the initiation of exploration drilling in the western portion of the mining lease.

Summary of Letlhakane Uranium Project update

The recent drilling program at Letlhakane has yielded promising results, with the discovery of thick continuous zones of uranium mineralisation. Lotus aims to upgrade the classification of the Letlhakane MRE and expects to complete the drilling by September 2024, with the updated MRE scheduled for November 2024. The scoping level study for Letlhakane remains on track for delivery in the first half of September 2024. Lotus is also progressing Letlhakane development in parallel with restarting uranium production at Kayelekera in Malawi, demonstrating the company's commitment to advancing its projects and operations.