Initial resource figures for Utah deposit

Thursday, 19 August 2010 White Canyon Uranium has announced maiden JORC-compliant resource figures for its Daneros deposit in Utah. The new figures put the deposit with 198,700 tonnes of ore with 320.9 tonnes U₃O₈ of indicated resources and 206.8 tonnes U₃O₈ of inferred resources, at an ore grade of 0.26% (2656 ppm). White Canyon said, "With the resource open and the limits of mineralisation not identified during the study, indicating that mineralisation extends beyond the current drill data, there is likely to be further increases to the resource inventory from further exploration at Daneros." The company said that it has placed an exploration target of an additional 455 tonnes U₃O₈, established within the current limits of the resource area. "The real benefit of the initial JORC resource is that it provides a quantifiable platform and starting point for White Canyon to expand its resource base from," the company said. White Canyon began production at Daneros in December 2009, based on an internal model derived from the same drilling database used to delineate the maiden JORC resource. The company noted that the maiden JORC resource exceeds (both in tonnage and grade) the internal model by up to 10% and is consistent with production tonnages and grades achieved to date. Daneros, the first new uranium mine to be permitted in Utah in 30 years, is ultimately expected to produce some 227 tonnes U₃O₈ per year.