U308 Corp. (TSXV:UWE,OTCQX:UWEFF) announced an update to drilling at the Colombia-based Berlin uranium-vanadium-rare metals project.
As quoted in the press release:
U3O8 Corp. has defined a NI 43-101 resource of 1.5mlb uranium Indicated (0.6 million tonnes (“Mt”) at 0.11% U3O8) and Inferred resources of 19.9mlb uranium (8.1Mt at 0.11% U3O8), 97mlb vanadium (8.7Mt at 0.5% V2O5) and 0.8Mt phosphate (8.7Mt at 9.3% P2O5) on 3km of the Berlin trend.
U308′s President and CEO, Richard Spencer said:
By applying a simple process adapted from existing technology previously used in Ontario’s uranium mining industry, we have achieved extraction of 97% of the contained uranium and phosphate, 79% of the vanadium, 96% of the yttrium and 82% of the neodymium.
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