Plateau Uranium Begins Updating PEA for the Macusani Plateau Projects

Plateau Uranium (TSXV:PLU,FWB:QG1) announced that work on an updated Preliminary Economic Assessment for the Macusani Plateau uranium projects in Peru is underway. GBM Minerals Engineering Consultants Limited, together with Wardell Armstrong International, have been commissioned for this project. The Preliminary Economic Assessment is expected to be completed in Q3 of 2015, with the expectation that the new, larger resource base will improve mine life, throughput and average grade.
As quoted in the press release:

The updated resource estimate model has been forwarded to Wardell Armstrong International (WA) of the UK for mine block model preparation, mine scheduling and mining fleet work, already in progress. Mineral Corporation personnel met with WA engineers 2 weeks ago to ensure a smooth transition from mineral resource models to potential mining scenarios.
Plateau Uranium personnel met with GBM Minerals Engineering Consultants (GBM) last week to initiate the integration of mining and processing work and outline the production options and parameters. GBM has started this work for the updated PEA and financial model, which will continue over the next few months.
The previous PEA was filed on SEDAR in January 2014.
… The new larger resource base, and the effect of employing higher cut-off grade resources is expected to improve mine life, throughput and average grade. Improved leach cycle time, process recoveries and reduced acid consumption are expected. Contract mining costs versus the previously considered owner-operated mining fleet costs will also be reviewed. These parameters along with lower fuel prices and other key mining cost drivers will be optimized and are expected to improve operating and capital costs over the previous PEA.

Plateau Uranium CEO, Ted O’Connor, said:

We are excited to have started work on updating the PEA for the Macusani plateau projects with our now larger and more robust resource base. This next major milestone is expected to provide for improved project economics and will enhance Plateau Uranium’s position as a future source of low-cost uranium production in the mining-friendly jurisdiction of Peru. The consultants chosen, GBM and Wardell Armstong, have global expertise with deep, prior knowledge and direct experience with the Company’s projects in Peru. This will enhance the PEA delivery timing and costs, and we look forward to working with them.

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