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    market news

    Board approves plan to drill more uranium test holes

    Melissa Pistilli
    Nov. 21, 2008 10:42AM PST
    Market News

    Rapid City Journal reports Powertech Uranium was granted more testing on holes in South Dakota by the government despite protests by various groups. Powertech already has a state permit for 155 exploratory holes near Edgemont, but it plans to drill 30 additional holes about 600 feet deep in an attempt to find areas that have …

    Rapid City Journal reports Powertech Uranium was granted more testing on holes in South Dakota by the government despite protests by various groups.

    Powertech already has a state permit for 155 exploratory holes near Edgemont, but it plans to drill 30 additional holes about 600 feet deep in an attempt to find areas that have no uranium. Those uranium-free areas could become sites for the company’s processing plant and other buildings that would be needed if a mine is eventually started.

    Frank Lichnovsky, Powertech’s chief geologist says:

    “This time I have to find areas where there’s no ore so we can set the plant there.”

    Powertech project manager Mark Hollenbeck said the company hopes to start actual mining in 2011 if it can get all the required federal and state permits in the next two years.

    For complete story, click this link. To view Powertech Uranium’s company profile and projects, click here. To view Powertech’s uranium stock information, click here. Follow developments in uranium mining and exploration for free. Sign on to the Uranium Investing Newsletter

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