PLU Make the Northern Miner Uranium Snap Shot Six Juniors of Interest

  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.


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.