Berkeley Resources (ASX: BKY) has completed the initial Mineral Resource Estimates, reported in accordance with the JORC Code (2004), for the Salamanca Uranium Project in Spain.
New estimates for the Alameda and Villar Area deposits have increased total Mineral Resources within Berkeley’s projects by 53% to over 80 Mlbs of U3O8 at a 200 ppm cut-off and over 100 Mlbs at a 100 ppm cut-off.
Mineral Resources within Berkeley’s projects now total 81.2 million tonnes at 450 ppm for 80.4 Mlbs U3O8, with 32% in the Measured and Indicated categories.
Ian Stalker, Berkeley Resources Managing Director, commented “these latest figures confirm the quality of the Salamanca resources allowing us to push forward on our Feasibility Study to bring the Project back into production and to develop a production profile commensurate with such a quality resource base."
"The substantial resources available encourage us to investigate increasing production beyond the present plant capacity of 2.1 Mlbs U3O8 per annum."
"The 200 ppm cut-off applied to the Mineral Resource Estimates is a conservative approach and along with increasing mining production and throughput, offers the potential to improve operating costs from previous estimates,” he added.
Mineral Resources for the Alameda South Deposit total 18.5 Mlbs at an average grade of 458 ppm U3O8 including 49% Indicated Resources.
Mineral Resources for the Alameda North Deposits total 4.5 Mlbs at an average grade of 503 ppm U3O8. These Mineral Resources are all in the Inferred category.
Mineral Resources for the Villar Deposit (previously Esperanza) total 4.9 Mlbs at an average grade of 446 ppm U3O8. These Mineral Resources are all in the Inferred category.
Reverse circulation (RC) drilling to upgrade and extend the Mineral Resources at Palacios North, Sageras and Alameda South is due to commence in the June Quarter with updated Mineral Resource Estimates for these deposits completed thereafter.