Feb 1, 2017   in Industry News, Media Coverage

Plateau Uranium Inc. was mentioned in the latest issue of The Northern Miner publication as one of the 6 top Uranium Juniors of interest.

POSTED BY: JOHN CUMMING FEBRUARY 1, 2017 VOLUME 103 NUMBER 3 FEBRUARY 6 – 19, 2017

Plateau Uranium (TSXV: PLU) is all about Peru, and its advanced Macusani Plateau uranium project, 220 km north of Juliaca in the country’s south. There, Plateau and its predecessors have spent US$45 million over the last eight years drilling, consolidating ground and growing a resource in five deposits that stands at 51.9 million lb. U3O8 in the measured and indicated categories (95.2 million tonnes at 0.0248% U3O8), and 72.1 million lb. U3O8 in inferred (130 million tonnes at 0.0251% U3O8).

Plateau Uranium CEO Ted O'Connor at the company's Tantamaco uranium deposit in southern Peru. Credit: Plateau Uranium.

Plateau Uranium CEO Ted O’Connor at the company’s Tantamaco uranium deposit in southern Peru. Credit: Plateau Uranium.

The work culminated in last year’s preliminary economic assessment that foresees a large open-pit mine that would produce at least 6 million lb. U3O8 per year over 10 years at a US$17 per lb. life-of-mine cash production cost. With US$300 million in initial capital investment and at a US$50 per lb. uranium oxide price, the net present value is US$603 million and the internal rate of return is 40.6%, with post-tax capital payback in 1.8 years.

The resource also has a potential lithium (Li2O) by-product, with 67,000 tonnes Li2O in measured and indicated (grading 0.1% Li2O) and 109,000 tonnes Li2O in inferred (0.1% Li2O). Initial tests show 73% recovery of lithium using leaching.

Plateau has a US$4- to US$5-million program from 2016–2017 that includes environmental work, drilling for discovery and resource upgrades, permitting and discussions with government, metallurgical test work and starting studies to finish a prefeasibility study. All this would pave the way for a bankable feasibility study in 2018.

 

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