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Peninsula Energy: 13% Resource Expansion and Upgrade at Karoo Project
Mar. 13, 2014 09:25AM PST
Company NewsPeninsula Energy (ASX:PEN) announced an updated JORC compliant Mineral Resource estimate of 56.9Mlbs eU3O8 at the Karoo Projects in the Cape Provinces of South Africa (Karoo Project). This includes an increased indicated resource of 21.9Mlbs with an increased grade of 1,242ppm eU3O8 (cut off of 600ppm eU3O8), which is a 30% increase.
Peninsula Energy (ASX:PEN) announced an updated JORC compliant Mineral Resource estimate of 56.9Mlbs eU3O8 at the Karoo Projects in the Cape Provinces of South Africa (Karoo Project). This includes an increased indicated resource of 21.9Mlbs with an increased grade of 1,242ppm eU3O8 (cut off of 600ppm eU3O8), which is a 30% increase.
Highlights from the press release include:
- Total JORC Code-Compliant Resource of 56.9Mlbs grading 1,108 ppm eU3O8
- Indicated Resource increase of 30% to 21.9Mlbs grading 1,242 ppm eU3O8
- Inferred Resource of 35Mlbs eU3O8 grading 1,038 ppm eU3O8
- Pre-Feasibility work progressing well