Resource News

Pele Mountain Resources Inc (TSXV:GEM, OTCQX:GOLDF) announced that it has retained Roscoe Postle Associates Inc for the filing of the updated mineral resource estimate for Eco Ridge in Elliot Lake, following the completion of its PEA which showed that the project has potential to become a profitable uranium oxide producer.

Pele Mountain Resources Inc (TSXV:GEM, OTCQX:GOLDF) announced that it has retained Roscoe Postle Associates Inc for the filing of the updated mineral resource estimate for Eco Ridge in Elliot Lake, following the completion of its PEA which showed that the project has potential to become a profitable uranium oxide producer.

As quoted in the press release:

The updated resource estimate is expected this quarter and will include recently drilled areas of higher-grade and thicker mineralization to the northwest of the current Resource Wireframe. All 11 holes drilled in this area late last year successfully intersected the Main Conglomerate Bed (“MCB“) over a 3-kilometre strike length, with 9 of the 11 holes significantly exceeding the average total REO grades and 9 of the 11 holes significantly exceeding the U3O8 grades reported in the current Resource Wireframe. For more information on the recent drill program please see Pele’s press release dated January 29, 2013.

Click here to read the full Pele Mountain Resources Inc (TSXV:GEM, OTCQX:GOLDF) press release.

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