Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) has detailed a major licence amendment for its flagship Lance Uranium Project in Wyoming, US.
The amendment, passed down by the Wyoming Department of Environmental Quality’s Uranium Recovery Program, authorises Peninsula’s subsidiary, Strata Energy Inc, to use several different oxidants — in conjunction with low pH lixiviants — in the uranium extraction process at Lance.
This is important because laboratory and field studies have demonstrated that higher uranium recovery rates can be achieved when oxidizing agents are introduced to the lixiviant stream.
Peninsula believes the regulatory approval is another key milestone as it works towards a potential production re-start at Lance using the low-pH uranium in-situ recovery (ISR) method.
“An important achievement”
Commenting on the approval, Peninsula managing director and CEO Wayne Heili said: “Receipt of this licence amendment is an important achievement that once again demonstrates the capacity of our team to successfully advance key permitting initiatives.
“It also highlights how Wyoming’s rigorous regulatory approach can be successfully applied to balance the needs of industry with the interests of public health, safety and the environment.”
In late March, Peninsula announced it was on its way to update its 2018 low-pH pre-feasibility study for the Lance project.
The revised study is slated for publication in quarter three this year.
The fine print
Thanks to the amendment, Strata can select from three different, commercially available oxidants — gaseous oxygen, hydrogen peroxide and sodium chlorate — to use in the extraction process.
The flexibility of choice will come in handy during supply shortages, meaning Strata can carry on business as usual if any one chemical becomes unavailable.
Peninsula says the amended licence also adds flexibility in the design and location of reagent storage and distribution systems, which may lead to further savings.