Lost Creek finds favour; Lance finds more U

20 June 2011

Two Wyoming uranium projects are celebrating progress, with the Lost Creek project receiving a favourable ruling from the US Nuclear Regulatory Commission (NRC) and Peninsula Energy reporting its second major resource increase this year at the Lance project.


The NRC has determined that there are no major environmental impacts that would preclude licensing Ur-Energy's proposed Lost Creek in situ recovery project, in its final Supplemental Environmental Impact Statement (SEIS) for the project. The NRC found only 'small to moderate' environmental impacts from the construction, operation, aquifer restoration and decommissioning of the facility, most of which would be so small as to be undetectable or so minor that they would not noticeably alter any important attribute of the resource in question.
Ur-Energy president and COO Wayne Heili described the NRC's favourable determination as a major milestone in the licensing process, demonstrating that "the Lost Creek Project is technically sound, protective of the environment, and that the licensing process is nearing conclusion."
Two reports - the SEIS and Safety Evaluation Report (SER) - must be completed in conjunction with the Final NRC Source and Byproduct Materials Licence (final licence). According to Ur-Energy, now the SEIS is complete, the NRC is also completing the process of obtaining final approvals of the SER, which it anticipates will be issued with the final licence.
More at Lance

Peninsula Energy Ltd has announced a further upgrade to resource estimates for the Lance projects, also in Wyoming. The JORC-compliant resource now stands at 41.4 million pounds U3O8 (15924 tU), including a 7% increase in measured and indicated resources of 11.2 million pounds U3O8 (4308 tU). The total resource estimate is 25% up on the previous estimate of February 2011 when an increase of 31% was reported.
A definitive feasibility study for the project has been held over pending the finalisation of the updated resource figures and well field design optimisation. According to the company, this will now be completed ad publication is expected "shortly".
Peninsula executive chairman Gus Simpson said the company was very pleased with the resource upgrade and ongoing drill program. "This is adding significant value to the Lance project. Importantly, we will now factor this into the definitive feasibility study model and publish those findings, he said.
Peninsula is working towards a 2012 startup for the Ross Permit area of the project, with planned production of 1.5 million pounds U3O8 (580 tU) per year.


Researched and written

by World Nuclear News


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