Plateau Uranium Files Technical Report for Lithium & Potassium Resource Estimate & Potential By-Product Value
Plateau Uranium Inc. (TSXV:PLU) announced that it has filed today on SEDAR a technical report to support the initial lithium and potassium resource estimate for its uranium projects located on the Macusani Plateau in the Puno District of southeastern Peru disclosed in the Company’s press release of March 22, 2016.
Plateau Uranium Inc. (TSXV:PLU) announced that it has filed today on SEDAR a technical report to support the initial lithium and potassium resource estimate for its uranium projects located on the Macusani Plateau in the Puno District of southeastern Peru disclosed in the Company’s press release of March 22, 2016. The technical report highlights the amount of lithium and potassium contained within only four of the Company’s defined uranium deposits, as well as providing initial estimate interpretation that potential lithium and potassium production could add significant value to the existing low-cost uranium production potential.
Plateau Uranium CEO, Ted O’Connor, stated:
Plateau Uranium remains a uranium-focused company, but we are nonetheless pleased with this initial lithium and potassium resource and the potential added by-product value these bring to our already strong uranium project story. Conservative pricing and process cost estimates have been used in trying to establish by-product value, with potentially excellent margins in excess of 100% (see Table 1 below).
It is important to note that we have constrained the lithium resources reported only within the uranium resources defined in the NI 43-101 Uranium Resource Estimate technical report dated June 2015 and that these resources are contained within only four of the uranium deposits considered in the PEA, representing only 66% of the Company’s defined uranium resources. There is lithium present in the host rocks to all our uranium deposits, and in most of the Macusani rhyolites on the plateau, so this initial lithium resource will indeed grow.
We plan to complete additional engineering and process test work to better understand potential operating and capital costs for lithium and potassium by-product production using experts in this field like K-UTEC, and to re-sample those uranium deposits not included in this resource for lithium and multi element chemical analysis
Plateau Uranium Chairman, Ian Stalker, stated:
This is an exciting addition to our Company. The Macusani Plateau is without doubt a geologically well-endowed environment, as evidenced by our recent recognition of these by-product elements over and above the extensive uranium mineralization already defined. These by-products offer further positive economic potential to an already robust uranium project. We are working closely with K-UTEC, a recognised industry leader in lithium process extraction methods, and look forward to announcing our future efforts to further unlock this potential.