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Result of CPR Report for Narke Project
Result of CPR Report for Narke Project.
About this update from Uru Metals Limited
[{"type":"text","content":"\n \nRNS Number : 2690N URU Metals Limited 05 September 2013 \n \n\n5 September, 2013\n \nURU Metals Limited\n(\"URU\" or \"the Company\")\n \nURU Metals Receives Competent Persons Report for the Närke Uranium-Oil Project in Sweden\n \n \nThe Director's of URU Metals Limited, (AIM:URU), the base metals and uranium explorer and development Company, are pleased to announce the results of a Competent Person's Report (CPR) prepared by independent consultant MSA Group (Pty) Limited for the Company's Närke Uranium-Oil Project, Örebro County, Sweden. \n \nCommenting on the CPR, Roger Lemaitre, CEO of URU Metals said: \n \n\"The MSA Group's Competent Person's Report indicates that our Närke Project has the potential to become one of the world's top five uranium projects in terms of total contained uranium, exceeding known resources at some of the worlds' largest and most famous uranium mines. URU's focus will now turn towards verifying the historic data, and commencing a Preliminary Metallurgical Test (PMT) program to determine the most economically-effective methods of extracting uranium and oil from the Alum Shales on our project. We believe that it is prudent to reduce the engineering risk by completing the PMT program before investing significant capital into defining the immense resource with a verification drilling program. \"\n \nHighlights of CPR Report include;\n \n· Närke Project has the potential to host as much as 303,000 tonnes of U3O8, in 1,471 million tonnes of rock using an average uranium concentration of 175 ppm U (equal to 206 ppm U3O8). Investors are cautioned that these resource figures are based on a non-SAMREC compliant order of magnitude resource estimate, using unverified information available from previous geological reports on the property.\n \n· Confirms historical extraction of petroleum projects from approximately 50 million tonnes of the Alum Shale host rocks on the Närke property from 1941 to 1966. \n \n· Work by previous operators suggest that the Alum Shales on the Närke Project have oil yields between 4% and 5.5%, which may be improved by newer oil shale extraction processed developed since the late 1960's. In the late 1960's, the Swedish government also extracted ...