Powertech Receives Positive Results

- July 8th, 2010

Powertech Uranium Corp.(TSE:PWE, FRANKFURT:P8A) reports that it has received positive results for the Dewey-Burdock project, Fall River and Custer Counties, South Dakota, USA.
PEA was prepared by Allan V. Moran, R.G., CPG, and Frank A. Daviess, MAusIMM, of SRK Consulting (U.S.), Inc. (“SRK”), who are both Qualified Persons independent from Powertech under NI 43-101, as the primary authors. SRK […]

Powertech Uranium Corp.(TSX:PWE, FRANKFURT:P8A) reports that it has received positive results for the Dewey-Burdock project, Fall River and Custer Counties, South Dakota, USA.

PEA was prepared by Allan V. Moran, R.G., CPG, and Frank A. Daviess, MAusIMM, of SRK Consulting (U.S.), Inc. (“SRK”), who are both Qualified Persons independent from Powertech under NI 43-101, as the primary authors. SRK received technical assistance from Lyntek Incorporated (“Lyntek”) and Mr. Jerry Bush, P.G. SRK and Lyntek are based in Lakewood, Colorado and are well known as providers of a full range of engineering and construction services for the global uranium sector. The purpose of the PEA is to provide an independent analysis of the potential economic viability of the mineral resources of the Project. The engineering staff of Powertech assembled an extensive amount of information as part of the Company’s production planning for the Project. This data was used by SRK and Lyntek as the basis of the PEA.

The Preliminary Economic Assessment, ‘PEA’ says:

“The Dewey-Burdock Project is an advanced-stage uranium exploration project located in South Dakota, controlled 100% by Powertech Uranium Corp. (Powertech). Powertech conducted confirmatory drilling to verify the results of extensive historic drilling, established current Indicated and Inferred classified resources, and conducted hydrogeologic tests to evaluate the project as an in situ leach and recovery (ISR) mining and uranium production operation. Powertech, with the assistance of Lyntek, conceptually designed well fields and a uranium recovery processing facility, and developed cost estimates for a proposed ISR operation that would be similar to existing uranium ISR operations currently in production nearby in Nebraska and Wyoming.”

For complete news release, click here.

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