Compared with the previous resource estimate, the latest results show an increase of contained U3O8 at the 75ppm cutoff grade in the Indicated category by 158% to 5.41 million lbs at a grade of 0.027% U3O8 (0.535lbs U3O8 per ton) compared with 2.10 million lbs at a grade of 0.022% (0.443lbs U3O8 per ton).
In addition, the contained U3O8 in the Inferred category increased by 4.5% to 15.15 million lbs at a grade of 0.020% (0.389lbs U3O8 per ton) compared with 14.49 million lbs at a grade of 0.017% (0.335lbs U3O8 per ton).
Peter Hooper, CEO of Macusani Yellowcake, said: “The significant increase in the grade and tonnage at Colibri 2 and 3 will enhance the economic potential of producing uranium on the Macusani Plateau. The updated resource estimate we are announcing today is also important as it takes us a significant step closer to achieving our corporate objective for the year of delineating more than 30 million pounds of U3O8.”
The new resource estimate was calculated based on 127 drill holes compared with 111 drill holes used in the previous estimate. From January to April 2010, the company drilled 2,460.8mt in a total of 33 drill holes (for a total of 152 drill holes including geotechnical holes).
