The study undertaken by Coffey Mining is based on the currently identified Inferred Mineral Resource at Carley Bore of 23 million tons grading 330ppm uranium and it is scheduled for completion by mid-May 2013.

The study will comprise a higher grade starter operation from Zone 6 followed by the larger Zone 1 that hold potential to provide higher cash flows in the early years of the project.

Meanwhile, Zone 6 contains 3.3 million tons grading 490ppm uranium and it is a flat-lying blanket of mineralization averaging three to four meters in thickness and lying between 50 and 60 meters from the surface, the company added.

Energia, estimating positive scoping study results, has planned a hydrogeological drilling program in June.

The company has undertaken this program to confirm the hydrogeological model to elevate the majority of the current inferred mineral resource to indicated status.

Energia managing director Kim Robinson claimed that the completion of the scoping study in May 2013 would lay the foundations for the next stage of evaluation and development of the Carley Bore deposit.

"We have been very pleased with the success of our recent drilling program in increasing the size of the resource at Carley Bore," added Robinson.