Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) has completed low-pH field demonstration operations at its Lance Uranium Project in Wyoming, US seven months ahead of advised schedule due to the success of its close-spaced pattern testing.
PEN says the primary objectives of its low pH field demonstration were met, allowing for the evaluation of multiple production pattern configuration alternatives, with data obtained for the development of an updated uranium recovery curve.
Field demonstrations achieved a peak recovery grade of 150 parts per million (ppm) U3O8 from more than 25 pore volumes in a close-spaced pattern, successfully producing uranium concentrate from the recovered solutions.
The company will now begin data analysis to update its technical assumptions, with secondary objectives of creating a bench and pilot-scale evaluation of advanced uranium recovery technologies and preserving the field demonstration area for future pilot testing of recovery plant optimisation concepts.
Demonstration delivers "valuable results”
Peninsula Energy managing director and CEO Wayne Heili said: “Over the past 16 months, operation of the field demonstration has delivered valuable results as we consider progressing the Lance Project toward a return to production.
“We can now compile and evaluate the site-specific data into the format needed to produce an updated economic evaluation for the project.
“Once completed, we will be able to use the results together with an assessment of the prevailing uranium market, to drive our re-start decision.”
Peninsula strengthens board
Peninsula Energy has strengthened its senior management team with the appointment of Brian Pile as vice president to the company’s wholly-owned subsidiary, Strata Energy Inc, which operates the Lance Project, and Ken Milmine as Strata director of health, safety and the environment.
Pile brings 22 years of project experience ranging from development of feasibility studies, engineering and construction through operational start-up, related to in-situ recovery of uranium in Wyoming, Nebraska and Kazakhstan.
His primary responsibility at present is evaluation of the learnings from the MU1A field demonstration and the preparation of updated capital and operating costs for the project.
Milmine brings 25 years of experience working in the health and safety, regulatory and environmental management roles for mining companies, including extensive in-situ uranium experience in Wyoming.
He is actively working to complete the development and implementation of a Quality Management System and an Environmental Management System with the intention of the company becoming ISO 9001 and ISO 14001 certified.
About Peninsula Energy
Peninsula Energy is an ASX-listed uranium mining company that began in-situ recovery operations in 2015 at its 100% owned Lance Projects in Wyoming, USA.
Following a positive feasibility study, Peninsula is embarking on a project transformation initiative at the Lance Projects to change from an alkaline ISR operation to a Low-pH ISR operation with the aim of aligning the operating performance and cost profile of the project with industry-leading global uranium production projects.