ERA will invest a total of $120m in the project to conduct close spaced underground exploration drilling and to explore areas adjacent to the Ranger 3 Deeps resource.
The project contains an estimated resource of 34,000 tons of uranium oxide.
Macmahon’s underground and civil construction businesses will collectively deliver the exploration decline.
Macmahon will excavate a box cut and install a portal access tunnel.
From that point work will start to construct the 2.2km decline, which is a tunnel cut into surrounding rock, to a depth of 400-500m.
The decline will be used to undertake a close spaced exploration drilling program to further define the Ranger 3 Deeps ore body.
Work on the construction of the box cut and exploration decline is scheduled to commence in May 2012.
