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Uranium One Completes Phase I Feasibility Study on its Dominion Project and Confirms a 30 Year Mine Life
Uranium One Completes Phase I Feasibility Study on its Dominion Project and Confirms a 30 Year Mine Life.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: SXR - Toronto Stock Exchange, Johannesburg Stock\nExchange\n\nTORONTO, ON, and JOHANNESBURG, South Africa, July 28 /CNW/ - sxr Uranium\nOne Inc. (\"Uranium One\") is pleased to announce the results of the feasibility\nstudy conducted by Turgis Consulting (Pty) Ltd. (\"Turgis\") and independently\naudited by SRK Consulting South Africa (Pty) Ltd. (\"SRK\") on Phase I of its\nDominion Reefs Uranium Project (\"Dominion Project\") located near Klerksdorp,\nSouth Africa.\n\n>\n\nThe feasibility study values Phase I of the Dominion Project as an\nunderground mine and a metallurgical plant with a designed production capacity\nof 200,000 tonnes per month. The uranium processing plant will be integrated\nwith Uranium One's existing carbon-in-leach gold plant. The Dominion Project\nwill process 18.5 million tonnes through the plant over an 11 year period at\nan average mill head grade of 0.77 kg/t of U(3)O(8) and will recover a total\nof 27.2 million pounds of U(3)O(8) and 0.5 million ounces of gold. The mine\nplan has been developed by applying a selective mining cut to all areas\nexceeding 160 cm channel width in order to optimize metal recovery and reduce\noperating costs, resulting in the tonnages and grades as stated above. Phase I\nwill focus on mining ore between surface and an approximate depth of\n500 metres. The feasibility study has used as a base case a U(3)O(8) price of\nUS$46.50/lb, a gold price of US$629/oz and an exchange rate of ZAR6.585 per\nUS$1. The analysis has been completed in real terms, and the valuation date is\nJune 1, 2006.\nIn addition, Turgis has prepared a conceptual study for Phase II of the\nDominion Project, which has been independently audited by SRK, to assess the\nviability of extending production from 11 to 30 years by mining the remaining\nIndicated Resource as well as a portion of the additional Inferred Resources.\nWhile this analysis has not been conducted to the level of accuracy contained\nin the feasibility study for Phase I, the nature of the geological\ncharacteristics of the ore body confirms a mine life in excess of 30 years.\nPhase II will begin production in 2012 as Phase I production levels begin to\ndecline, ensuring a 200,000 tonne per month throughput is maintained.\nThe results of the feasibility study have enabled the Board of Directors\nof Uranium One to e...