Business
Uranium One Announces 400% Increase in Kazakh Reserves to 47.8 Million Pounds and a 12% Increase in Indicated Resources at Karatau to 16.3 Million Pounds
Uranium One Announces 400% Increase in Kazakh Reserves to 47.8 Million Pounds and a 12% Increase ...
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nFeb. 1, 2010 (Canada NewsWire Group) -- VANCOUVER and JOHANNESBURG, South Africa, Feb. 1 /CNW/ -- Uranium One Inc. (\"Uranium One\") today announced inaugural reserve estimates for its South Inkai and Karatau Uranium Mines in Kazakhstan, as well as a significant increase in resources at Karatau. The Company also announced the completion of the acquisition of Christensen Ranch and Irigaray in Wyoming and an update to its standstill arrangement with JSC Atomredmetzoloto.HighlightsReserves- With the addition of reserves at South Inkai and Karatau, totalattributable proven and probable reserves in Kazakhstan increased by400% to 47.8 million pounds U(3)O(8), from the adjusted reservebase for Akdala.- The Company declared its first reserve at the Karatau Uranium Mine,with attributable probable reserves of 14.6 million pounds U(3)O(8).- Uranium One also declared its first reserve at the South Inkai UraniumMine, with attributable proven and probable reserves of 23.6 millionpounds U(3)O(8).Kazakhstan Mineral Reserve Estimate (December 31, 2009)(1,2,3,4)-------------------------------------------------------------------------ProvenReserves Deposit Totals Company Share---------------------------------- -----------------------Tonnes Grade Contained Ownership Contained(000's) (% U(3)O(8)) U(3)O(8) (%) U(3)O(8)(M lbs) (M lbs)-------------------------------------------------------------------------South Inkai 6,100 0.011% 1.4 70% 0.9-------------------------------------------------------------------------Akdala 3,452 0.067% 5.1 70% 3.6-------------------------------------------------------------------------Total Proven 4.5--------------------------------------------------------------------------------------------------------------------------------------------------ProbableReserves Deposit Totals Company Share---------------------------------- -----------------------Tonnes Grade Contained Ownership Contained(000's) (% U(3)O(8)) U(3)O(8) (%) U(3)O(8)(M lbs) (M lbs)-------------------------------------------------------------------------South Inkai 33,200 0.045% 32.5 70% 22.7-------------------------------------------------------------------------Karatau 12,542 0.106% 29.3 50% 14.6-------------------------------------------------------------------------Akdala 5,839 0.067% 8.6 70% 6.0-------------------------------------------------------...