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UrAsia Energy announces increase in licence area at Kharassan of 15%
UrAsia Energy announces increase in licence area at Kharassan of 15%.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nTrading Symbol (TSXV: UUU and AIM: UUU)\n\n\nVANCOUVER, Jan. 9 /CNW/ - UrAsia Energy Ltd. (the \"Company\" or \"UrAsia\")\nis pleased to announce that the mining licence at the Kharassan uranium\nproject, located in south central Kazakhstan has been increased in area from\n70.8km(2) to 82.2km(2).\n\n\nThe Company has a 30% interest in the Kyzylkum Joint Venture, which has a\n100% interest in the Kharassan uranium project \"Kharassan\". Kharassan is\ncurrently under construction with initial uranium production scheduled for the\nend of 2007.\n\n\nThe increase in size of the licence area by 15% has increased the Russian\nP1 resource on the property, which has increased the potential of the property\nto host additional mineral resources with additional drilling. Phillip\nShirvington, President and Chief Executive Officer, said \"the conversion of\nthe additional P1 resource to meet Canadian Institute of Mining Metallurgy and\nPetroleum 'CIM' Standards on Mineral Resource and Reserve definitions through\nextensive drilling is a primary objective of the Kyzylkum Joint Venture\".\n\n\nAn application to the Ministry of Energy and Natural Resources in late\n2006, requesting changes to the proposed work programme at Kharassan was\nreviewed and accepted by an Expert Commission of the Geology and Sub-Soil Use\nCommittee of the Ministry of Energy and Natural Resources. Phillip Shirvington\ncommented \"the Expert Commission was extremely co-operative and efficient in\nreviewing and processing the Joint Venture's application. Our request was\ngranted and the changes were made effective as of December 25, 2006\".\n\n\nThe known mineralization on the Kharassan Property trends northwards. The\nadditional licence area, located to the north, will enable the Joint Venture\nto explore the prospective area for further mineralized horizons. For a\ndetailed description of the regional geology and property geology, please\nrefer to the Technical Report on the North Kharassan Project, March 25, 2006.\n\n\nA map of the new licence area is available at:\n\n\nhttp://www.urasiaenergy.com/i/maps/KharassanNewLicenceAreaMap.jpg.\n\n\nThe co-ordinates of the licence area are provided in Table 1.\n\n\nTable 1. Kharassan, licence area co-ordinates\n\n\n-------------------------------------------------------------------------\n Corner point co-ordinates\nCo...