Published on Thursday Sept 23 2010
URANIUMSA - (ASX-USA) has tripled the uranium resource at its Mullaquana project south of Whyalla.
The Adelaide company said it had now delineated 38.7 million tonnes of ore, estimated to contain 10,400 tonnes of uranium oxide, equivalent to 22.9 million pounds.
The average thickness of the mineralised areas was 11.85m, with the mineralisation starting just more than 50m below the surface.
The previous resource estimate was for 2700 tonnes of uranium oxide.
UraniumSA managing director Russel Bluck said the new estimate was a strong step forward for the company.
This is the most significant outcome for the project to date and is especially so as the resource envelope contains areas of higher grade material while remaining open in several directions," Mr Bluck said.
"We plan to continue to progressively update the resource estimate with more drilling, as areas of higher grade mineralisation have the potential to move to higher resource classifications.
"Today's result is in line with our previously flagged exploration objective of having above 20,000 tonnes of uranium mineralisation in drilled inventory within the Mullaquana project areas by late this year through to early next year.
"Certainly, the growing inventory of potentially economic mineralisation gives the board a high level of confidence that the Mullaquana project will continue to evolve from a greenfields discovery into a uranium asset of Australian and international significance."
UraniumSA is aiming to start production at the project by the middle of 2012, and has started the regulatory approval process for an in-situ field leach trial, which it hopes to start in mid to late 2011.
VISIT MY OTHER SITE
@
No comments:
Post a Comment