Neo Energy Metals starts resource expansion drill tender

Neo Energy Metals starts resource expansion drill tender

(Correcting company name).

Neo Energy Metals PLC – South Africa-focused uranium developer – Starts tender process with a number of short-listed South Africa based drilling contractors for a major resource expansion and resource upgrade drill programme to be completed at its advanced Henkries uranium mine in Northern Cape province, South Africa. Says drill programme will comprise of approximately 6,500 metres of aircore drilling and 350 drill holes with an average drill hole depths of between 15 metres to 20 metres.

Chief Executive Officer Sean Heathcote says: “We are confident that we are able to increase our JORC Code 2012 compliant mineral resources to over 10 [million pounds] of contained uranium through this drilling program. This will underpin and further strengthen the attractiveness of the project and its underlying project economics.

“We look forward to appointing the drilling contractor shortly and providing further updates on their progress at Henkries in early 2024.”

Current stock price: 0.87 pence, down 0.9%

12-month change: down 1.4%

By Sabrina Penty, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.