Stonehenge Metals, a Perth-based uranium exploration company, has applied for 15 new tenement areas at the Daejon Project, located 25km south of Daejon City in South Korea.
The company said that the new tenements compliment Stonehenge’s existing Daejon Project tenements and once granted will allow the company to expand its future uranium exploration programs.
The new application areas are strategically positioned in relation to the Daejon Project and were selected for their potential to extend the strike length of the current resources and known mineralization, the company said. The current resources are open along strike and at depth.
The company said that it is confident that the new tenement areas can add significant value to its already established uranium resources in South Korea.
Stonehenge plans to commence a diamond drilling campaign of up to 15,000mt by the end of June 2010. This exploration program is expected to expand and up-grade the current resources with initial focus on the Daejon Project.
Drilling of the area is expected to continue for much of 2010 and to provide data for a resource upgrade during that time.