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Elevate Uranium Limited (ASX:EL8) releases its quarterly activities reported to December 2021.
- Drill Progam and Resource Estimation at Koppies
Initial JORC Resource Estimation in progress.
A review of the Koppies resource drilling to date, identifies substantial additional areas to drill.
- 73 km of Prospective Palaeochannels Identified at Capri
Airborne EM survey identified 73 km of palaeochannels, with coincident uranium channel radiometric anomalies.
Prospective for calcrete hosted uranium, similar to that at the Marenica Uranium Project on which U-pgradeTM was developed.
- Exploration at Angela and Minerva
Geochemical surveys were completed at the Angela and Minerva Uranium Projects in the Northern Territory
Drilling and Resource Definition activities at Koppies
During the quarter, a review of drilling results to date at the Koppies Project, identified substantial areas that will require additional drilling to further delineate the extent of mineralisation beyond that to be included in the upcoming mineral resource estimate. Nevertheless, the Company is preparing a mineral resource estimate using the drilling results to date, to provide guidance to the market. Follow up drilling programs are currently being planned and will be commenced in the near future.
As can be seen from Figure 1, Koppies is a small portion of the area that the Company controls in the Namib Area in the Southern Erongo Region of Namibia, highlighting the substantial opportunities to increase the Company’s mineralisation in the greater Namib Area.
The location of the Koppies project relative to the Company’s contiguous tenement position in the Namib Area of Namibia and Deep Yellow Ltd’s Tumas 1 East deposit, is shown in Figure 1, and relative to the Company’s Namibian tenements in Figure 2.
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This article includes content from Elevate Uranium Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
EL8:AU
Renforth’s Parbec Surface Program Concluded, Succesfully Intersects Mineralized Lenses
The Diorite Nose/NW area was initially trenched in 2017, returning 1.55 g/t Au over 9m, including 3.94 g/t over 1m (press release May 9 2019). This area was expanded to create a bedrock exposure which was washed, mapped and channelled, with some adjacent unwashed stripping also undertaken. This exposure revealed felsite and porphyry units forming discontinuous lenses, demonstrated as mineralized in prior trenching, and dykes which strongly cross-cut the regional structures, namely the Cadillac Break. In addition to this at least 3 low-angle quartz veins were discovered in the NW and an area of the Cadillac Break schists which contains multiple narrow lenses of diorite, felsite and quartz which strongly resemble mixed-lithology mineralized zones seen in several of Renforth’s drillholes in the NW.
The southern Sediment/Splay area was trenched over a diorite/schist unit (a Diorite Splay) forming a prominent ridge and ended in the Pontiac Sediments in the south. This area was mapped in a preliminary fashion only as washing was not possible due to equipment breakdown. The target of this trenching was mineralized veins intersected along the south margin of the diorite in drill holes, several veins were uncovered on surface in expected locations when projected to surface.
The undrilled area of the Cadillac Break with outcrop was stripped and exposed two lenses of a type of felsite set in schist close to the south margin of a large diorite. This area could not be washed but samples were selected.
The undrilled area near the ramp was stripped in the vicinity of the previous grab sample of 1.04 g/t Au taken on a narrow ridge. Stripping revealed a number of bulbous ridges in the area of the original showing, numerous quartz veins were exposed over 5m in strike, these were sampled. Also exposed was a 1.5m wide felsite-type structure striking almost N/S, perpendicular to the Break, this program has highlighted several of these, their presence is of interest as they could have been missed in drilling to date, which has all been carried out perpendicular (almost N/S) to the Break where it would be alongside the structures.
Samples were cut, bagged and tagged in the field by the geologists, they have been delivered for assay and will be reported upon once results are available.
Brian H. Newton P.Geo, a qualified person pursuant to the guidelines contained in National Instrument 43-101, has approved the technical information found in this press release.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:905-831-9606
E: nicole@renforthresources.com
#269 – 1099 Kingston Road, Pickering ON L1V 1B5
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
Click here to connect with Renforth Resources (CSE:RFR) for an Investor Presentation.
Source: www.accesswire.com
Boss Set to Ship First U308 from Honeymoon
Highlights
- Startup production exceeding ramp-up schedule per the feasibility study (FS) estimates
- NIMCIX columns 2 and 3 on target for commissioning in Q3 and Q4, respectively in 2024
- Commissioning continues to advance, with key metrics remaining ahead of FS estimates:
- oWellfields continue to average 80 - 100mg/L vs FS estimate of 47mg/L (~100% uplift)
- oIon Exchange loaded resin recoverability remains at 100%
- oResin loading normalising at FS estimate of 27 g/L
- oElution performance exceeding FS estimate at 7 – 9 g/L
- First uranium sale to occur with revenue being received this quarter
- Boss remains highly leveraged to rising uranium price
Boss will now make its first delivery to European nuclear utilities under its existing sales contracts, with revenue to be received in the current quarter.
With NIMCIX Column 1 performing to expectations and construction of Columns 2 and 3 on track for completion in the September and December quarters, 2024 respectively, Boss expects production to total at least ~850,000lbs of U308 by June 30, 2025, in line with its Feasibility Study schedule1.
Boss Managing Director Duncan Craib said:“The start-up phase at Honeymoon is proceeding comfortably to plan, with all the key metrics running in line with, or exceeding, the forecasts contained in the Feasibility Study schedule.
“Construction of the second and third columns is also advancing well, ensuring we are on track to continue increasing our production rates. Total production in FY26 is set to meet or exceed our feasibility study forecasts at 1.63Mlb. The addition of columns 4, 5 and 6 are forecast to further increase the production rate to nameplate capacity of 2.45Mlb/annum by year three.”
Figure 1: Drummed uranium ready for first shipment
Figure 2: Construction of columns 2 and 3 nearing completion to increase Honeymoon's production profile
Production update
Operational focus over the coming months remains on optimisation of the ion exchange, elution, precipitation and drying and packing processes.
Wellfield performance continues to impress, with tenors from individual wellfields into the PLS averaging 80 - 100 mg/L. Honeymoon’s feasibility study assumed PLS grade of 47 mg/L based on results from the project’s previous operation. Boss is managing the grade of uranium being leached to maximise wellfield recoveries.
Consumption of reagents in the wellfields of sulphuric acid and ferric (pH and Eh) are normalising as per FS expectations. The lixiviant chemistry, as proved during the field leach trial, continues to demonstrate superior performance at commercial throughput rates. The increased leach efficiency leads to a more efficient loading on the ion exchange resin, effectively lowering operating costs as less reagents and power are required per drum of uranium.
Stripping of uranium from the loaded resin continues to be virtually 100%, also demonstrating that the ion exchange process is working as designed, resulting in a high-grade concentrated eluate greater than 7-9 g/L.
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This article includes content from Boss Energy Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Lo Herma ISR Uranium Project, Resource Drilling Funded
HIGHLIGHTS
- Upcoming Q3 resource drilling is fully funded
- Drilling will target expansion and upgrade of the current Inferred Mineral Resource Estimate of 5.71 Mlbs U3O8 at average 630ppm
- Drilling to commence in the coming weeks - starting late July or early August
- Planned rights entitlement offer to all shareholders on the same terms as the recent placement - details to be provided in due course
As previously advised on 2nd of May 2024, the planned 2024 drilling permit at Lo Herma allows for up to 76 drill hole locations including construction of up to 5 groundwater monitoring wells. This next phase of drilling will focus on expanding the resource areas and where possible, upgrading the current mineral resource classification (Table 1). Collection of important data including, hydrogeologic parameters of the mineralised aquifers and collection of rock core samples for metallurgical testing will be also prioritised. GTI intends to mobilise drilling rigs to Lo Herma as soon as the activity is fully permitted which is anticipated to be during late July or early August 2024.
Following completion of the 2024 drill program at Lo Herma, GTI intends to publish an updated mineral resource estimate and exploration target range for the project. The Company expects that the updated mineral resource estimate will support near-term development of a Scoping Study to demonstrate the economic potential of the project.
GTI Executive Director Bruce Lane commented, “We are pleased and excited to have received investor support and funding to continue moving forward with our planned resource expansion drilling at Lo Herma. Matt and the team in Wyoming have put us in a great position to complete the drilling program this quarter, with a revised mineral resource estimate to be rapidly advanced post-drilling. This work prepares GTI for a potential Lo Herma scoping study which we hope to commence later this year on the basis that we can significantly grow the uranium resource estimate to a similar scale to ISR uranium mines currently being constructed or planned in Wyoming at Ur-Energy’s Shirley Basin project & Encore’s Energy’s Gas Hills project.”
FIGURE 1. GTI WYOMING PROJECT LOCATIONS
LO HERMA GEOLOGIC SUMMARY
The Lo Herma project is located on the southern end of the west flank of the Powder River Basin (PRB), a regional asymmetric synclinal basin hosting a sedimentary rock sequence of about 15,000 feet in the deeper portions of the basin. The basin is bounded by the Bighorn Mountains on the west, the Black Hills to the east, and the Casper Arch, Laramie Mountains, and Hartville Uplift along the southern margin. Along the edges of the basin, progressively older sedimentary units outcrop at the surface as you move away from the synclinal axis of the basin.
The target host geology for Lo Herma project is located in and around the contact of the Eocene Wasatch Formation (Wasatch) and the Paleocene Fort Union Formation (Fort Union).
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This article includes content from GTI Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
