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Dominion Project - Uranium One Reports Updated Resource Estimate, Additional Uranium Tailings Resources and Extensive New Prospecting Rights
Dominion Project - Uranium One Reports Updated Resource Estimate, Additional Uranium Tailings Resources and Extensive New Prospecting Rights.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nTrading Symbol: SXR - Toronto Stock Exchange, JSE Limited (Johannesburg\n\n\nstock exchange)\n\n\nTORONTO, ON and JOHANNESBURG, South Africa, Jan. 17 /CNW/ - sxr Uranium\nOne Inc. (\"Uranium One\") today announced an updated mineral resource estimate\nfor its Dominion uranium project in South Africa. The updated estimate shows a\n37% increase in the Indicated uranium resources over the estimate reported in\nJune 2006.\n\n\nIn addition, Uranium One has declared for the first time an Indicated\nuranium and gold resource in the surface waste dumps located on the Dominion\nproperty (the Dominion Dumps). The processing of material from the dumps is\nexpected to result in greater production and lower treatment costs during the\nfirst three years of plant operation than projected in the independent\ntechnical report on the Dominion project prepared by SRK Consulting, as\namended and filed on SEDAR on October 26, 2006.\n\n\nRevised Mineral Resource Estimate\n\n\nDominion and Rietkuil Sections\n\n\nThe primary focus of the current and ongoing diamond exploration drilling\nprogram is to upgrade existing Inferred resources into Indicated resources\nsuch that mine planning can be expedited for production purposes. This has\nbeen achieved by delineating the down dip extensions of previously identified\nhigher grade channels. Ongoing drilling is primarily aimed at targeting\nfurther extensions to these known ore-shoots, as well as identifying\nadditional ore-shoots in the current Inferred resource areas. Focused drilling\non newly identified ore-shoots is being undertaken for conversion to Indicated\nresources, with a view to maximizing the resource and reserve base for mine\nplanning purposes and to assess the ability of the Dominion uranium project to\npotentially support an expansion to approximately 7.0 million pounds of\nU(3)O(8) production per annum by 2015.\n\n\nThe updated mineral resource estimate for the Dominion uranium project\nshows an Indicated uranium resource of 36.4 million tonnes at a grade of\n0.81 kg/tonne, containing 64.9 million pounds U(3)O(8). This represents a 37%\nincrease in the number of contained pounds of uranium within the Indicated\nuranium resource base relative to the most recent Dominion resource estimate\n(contained in the June 2006 independent technical report on the Dominion\nproperty prepared by ...