Paladin Energy said that a revised Mineral Resource and Ore Reserve estimate for the Langer Heinrich Mine (LHM) in Namibia has now been finalized and the results are reported at a 250ppm cut off, following the drilling of approximately 37,000m deep during 2010.
The mine conforms to both the JORC (2004) guidelines and the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101), according to the company.
This drilling program was initiated to establish a sufficient Mineral Resource base capable of supporting an expansion at LHM from 5.2Mlb U3O8 pa to 10Mlb U3O8 pa with 9Mlb U3O8 derived from expansion of the existing processing plant and 1Mlb U3O8 pa from heap leach operations.
The company also said that the feasibility study for the planned Stage 4 expansion of the mine is currently underway.
The updated 2010 Mineral Resource estimates after depletion for mining represent a 106% increase in the Measured and Indicated Mineral Resources compared to 2008 update, up from 32,858t (72.4Mlb) to 67,758t (149.2Mlb) contained U3O8.
Whilst the majority of the mineralization has been closed off laterally, there are still a number of areas, particularly in EPL3500, which need to be infilled within the main body of the Mineral Resource.
The new Mineral Resource indicates 78.8Mt at a grade of 164ppm for 28.5Mlb U3O8 in the Measured and Indicated Mineral Resource categories and 17.4Mt at a grade of 169ppm for 6.5Mlb U3O8in the Inferred Mineral Resource category.
The Mineral Resource estimate is based on Multi Indicator Kriging and incorporates a specific adjustment based on expected mining parameters.
The project now has an estimated Ore Reserve of 60,830t (134.1Mlb) U3O8, including stockpiles and depleted for mining, which is sufficient for a minimum 20 year mine life and extended project life.