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UrAsia Energy increases inferred mineral resource base at South Inkai by 69%
UrAsia Energy increases inferred mineral resource base at South Inkai by 69%.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol (TSXV: UUU and AIM: UUU)\n\nVANCOUVER, Nov. 16 /CNW/ - UrAsia Energy Ltd. (the \"Company\" or \"UrAsia\")\nis pleased to announce that it has increased its inferred mineral resource at\nthe South Inkai uranium project in the Republic of Kazakhstan by 69%. This is\na result of a recently completed audit of newly certified resources on the\nSouth Inkai project. The Company has a 70% interest in the Betpak Dala Joint\nVenture, which has a 100% interest in the South Inkai uranium project \"South\nInkai\" and the Akdala uranium mine \"Akdala\".\nThe original mineral resource estimate for South Inkai, Section 4, as\nestimated by Roscoe Postle Associates Inc. (now known as Scott Wilson RPA) and\nincluded in their Technical Report prepared in accordance with NI43-101 dated\nOctober 8, 2005 and revised March 20, 2006 contained a table of mineral\nresources as of March 2005.\nThe recent increase in the inferred mineral resource at South Inkai from\n25.6 million pounds U(3)O(8) to 43.5 million pounds U(3)O(8) is the result of\ncertification of mineral resources from an area within the South Inkai project\nthat was drilled during the period 1991 to 1993. Scott Wilson RPA, engaged to\ncomplete the audit of the newly certified resources, confirmed that the drill\nholes included in the 'new' resource blocks are shown on sections received\nfrom the Republic of Kazakhstan in 2005, but were not included in the\nresources audited by Roscoe Postle Associates Inc. at the time - as they had\nnot been certified by the State Commission on Mineral Reserves of the Republic\nof Kazakhstan.\nScott Wilson RPA has provided the Company with an updated statement of\nmineral resources for the South Inkai project. The South Inkai Resource\nEstimate, as at October 2, 2006, is shown in Table 1.\n\nTable 1. South Inkai Resource Estimate, October 2, 2006\n(Attributable to Urasia)\n-------------------------------------------------------\n\n>\n\nCommenting on the substantial increase in the mineral resource estimate\nat South Inkai, Phillip Shirvington, President and Chief Executive Officer,\nsaid, \"the Company has increased its inferred mineral resource through the\nsuccessful conversion, certification and reclassification of a portion of its\nresource base at South Inkai. I am encouraged by the conversion factors we are\nexperiencing during...