HomeEnergy MineralsEtango uranium project to commence in 2013

Etango uranium project to commence in 2013

Bannerman Resources
“’ to produce uranium
in Namibia
 
Perth, Australia — MININGREVIEW.COM — 21 January 2010 – Australian-based uranium mine development and exploration company Bannerman Resources Limited reports that completion of the feasibility study for its Etango uranium project in Namibia has demonstrated the technical and economic viability of the project at long term contract uranium prices.

Revealing this in its quarterly activity and cash flow report, the company said the new project had a modelled output of 5 to 7Mlbs of U3O8 per annum over a mine life of more than 16 years.

It added that the Etango deposit had extensive measured and indicated resources of 102.8Mlbs of U3O8 at an average grade of 227ppm, and inferred resources of 49.2Mlbs of U3O8 at an average grade of 217ppm, reported at a cut-off grade of 100ppm of U3O8.

The company said that, subject to final confirmatory metallurgical test work, processing was to be undertaken by agitated-tank leaching of a high-grade (3 500-4 000ppm U3O8) flotation concentrate for overall uranium processing recoveries of +90%.

It went on to say that the definitive feasibility study was underway, and that key opportunities were being pursued to improve project economics and extend mine life through a range of resource expansion, mining improvement, processing, flow-sheet optimisation and other initiatives.

“The next phase of metallurgical locked-cycle test work is underway and results are expected by the end of January,” the report said. “Final pilot plant test work is scheduled to start in February and be completed by quarter end,” it added.

An update of the mineral resource estimate incorporating drilling completed since mid-2009 is due for release later in the current quarter.

The Etango project is one of the world’s largest undeveloped uranium deposits located in a premier uranium mining jurisdiction. It offers long term security of supply for end-users within the timeframe in which there is growing consensus that supply will be constrained as the nuclear renaissance gathers momentum.

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