Lotus Resources (ASX: $LOT) reports positive results from Letlhakane infill drilling program

Lotus Resources Limited (ASX: $LOT) has announced positive results from the ongoing drilling program at its Letlhakane Uranium Project in Botswana. The company has completed 106 reverse circulation (RC) holes and three diamond holes out of a planned 180-hole program, with the latest intersections confirming thick, continuous zones of uranium mineralisation.

Executive Commentary on Letlhakane Project

Lotus CEO Greg Bittar expressed satisfaction with the drilling results, highlighting the confirmation of continuity, extent, and quality of the Letlhakane ore body. He emphasized the significance of the intersections at the Gorgon West deposit, particularly the discovery of individual intercepts more than 12m thick and zones of multiple intercepts up to 60m thick. Bittar also mentioned the commencement of diamond drilling at Serule West for metallurgical test work and the company's focus on upgrading the classification of the Letlhakane Mineral Resource Estimate.

Summary of Letlhakane Project Update

Lotus Resources' latest drilling results at Letlhakane demonstrate the company's progress in confirming the continuity and grade of the uranium mineralisation. The ongoing infill drilling program aims to upgrade Inferred Resources to Indicated and Measured status, with a focus on the Gorgon West and Serule West areas. The company is on track to complete the drilling program by September 2024 and plans to update the Mineral Resource Estimate later this year. Additionally, Lotus is progressing with a scoping level study for Letlhakane's development and remains focused on accelerating the Kayelekera project in Malawi. The positive results from the drilling program indicate the potential for future growth and development of Lotus Resources' uranium projects in Africa.