A tripling of its resource estimate to 10,400 tonnes of enclosed uranium oxide has been publicized by Uranium SA Limited for the Company’s flagship Mullaquana Uranium Project, south of Whyalla on South Australia’s Eyre Peninsula. The new JORC Inferred Mineral Resource approximation comprises 38.7 million tonnes of mineralization estimated to contain 10,400 tonnes of U3O8 at an average grade of 275 ppm eU3O8. The average thickness of mineralized intersections is 11.85 meters with the mineralization beginning at little more than 50 meters below surface. It is only the Company’s second resource estimate for Mullaquana and follows a wide round of infill drilling at Mullaquana’s Blackbush Prospect.
The enhanced source announced today compare with the May 2009 maiden JORC Inferred Resource of 12Mt at an average grade of 224 ppm for 2,700 tonnes. Mr Russel Bluck MD of Uranium SA said that “This is the most important outcome for the project to date and is particularly so as the resource envelope contains areas of higher grade textile while remaining open in several directions. We plan to continue to gradually update the resource estimate with more drilling as areas of higher grade mineralization have the potential to move to higher resource classifications.”
Mr Bluck said that the new approximation also helped move Mullaquana towards the beginning of a field leach trial for the in situ recovery of uranium. Today’s result is in line with our before flagged exploration objective of having above 20,000 tonnes of uranium mineralization in drilled list within the Mullaquana project areas by late this year through to early next year. He said that certainly, the growing inventory of potentially economic mineralization give the Board a high level of assurance that the Mullaquana Project will continue to evolve from a Greenfields discovery into a uranium asset of Australian and international significance.
The enhanced source announced today compare with the May 2009 maiden JORC Inferred Resource of 12Mt at an average grade of 224 ppm for 2,700 tonnes. Mr Russel Bluck MD of Uranium SA said that “This is the most important outcome for the project to date and is particularly so as the resource envelope contains areas of higher grade textile while remaining open in several directions. We plan to continue to gradually update the resource estimate with more drilling as areas of higher grade mineralization have the potential to move to higher resource classifications.”
Mr Bluck said that the new approximation also helped move Mullaquana towards the beginning of a field leach trial for the in situ recovery of uranium. Today’s result is in line with our before flagged exploration objective of having above 20,000 tonnes of uranium mineralization in drilled list within the Mullaquana project areas by late this year through to early next year. He said that certainly, the growing inventory of potentially economic mineralization give the Board a high level of assurance that the Mullaquana Project will continue to evolve from a Greenfields discovery into a uranium asset of Australian and international significance.
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