Uranium resources at the Ongolo Alaskite deposit in Namibia have tripled, while resources for the Mkuju River project in Tanzania have increased by 42% in newly released JORC-compliant figures.
|Exploration work at the Ongolo Alaskite deposit (Image: Deep Yellow)
Latest figures released by Australian exploration company Deep Yellow for the Ongolo Alaskite deposit show a total of 18 million pounds U3O8 (6924 tU) at a 250 ppm cut-off, 11.8 million pounds (4539 tU) up from estimates released in May 2011. Of the total Ongolo resources, 13.2 million pounds (5077 tU) is categorised as "indicated", meaning that its tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. The remainder is classed as "inferred", meaning that it can be estimated with a lower level of confidence from geological evidence and continuity but has not yet been verified.
The Ongolo Alaskite deposit was discovered by Deep Yellow's Namibian subsidiary Reptile Uranium Namibia in April 2010 and forms part of the Omahola project, along with the high-grade Inca deposit and the Tubas Red Sand deposit. The new figures bring the total resource estimate for Omahola to 38.6 million pounds U3O8 (14,847 tU), but this could increase still further with a resource upgrade for the satellite MS7 deposit expected by the end of the year.
More U at Mkuju
Updated figures for the Mkuju River project in Tanzania see a 39% increase in measured resources to 55.3 million pounds U3O8 (21,271 tU), while indicated resources increase by 28% to 38.0 million pounds (14,617 tU). Both figures are at a cut-off grade of 100 ppm U3O8. Inferred resources have been reduced as a result of the conversion of inferred resources into indicated and measured resources, and now stand at 26.1 million pounds U3O8 (10,039 tU).
The majority of the measured and indicated resources are located within 60 metres of the surface, and plans are well advanced for mining operations using shallow pits to feed a single mill. The updated figures will form the basis of an ongoing definitive feasibility study for the project, which is due to be completed by the end of 2012.
Mkuju River's original developer, Australia's Mantra Resources Ltd, was acquired by Uranium One's 51% majority shareholder AtomRedMetZoloto (ARMZ) in June 2011, after which Uranium One took over development of the project. Uranium One has an option to acquire Mantra from ARMZ, exercisable until June 2012.
Researched and written
by World Nuclear News