16 November 2017
In the news: Plateau Uranium
FROM THE BROKING DESK
We have some encouraging exploration results from Plateau Uranium’s†† Macusani Uranium Project in south-eastern Peru. The first hole drilled into a new location, Falchani, at which radioactivity is elevated over a 2km2 area, returned assays that showed two significant zones of mineralisation, the first being uranium-rich and the second, deeper zone being lithium-rich. The hole returned 45m from surface grading 633ppm (0.0633%) U3O8 with minor lithium, and also 51m grading 2,712ppm Li (equivalent to 0.58% LiO2) from 95m to the end of the hole at 146m.
As the company highlighted, these results are significant. The uranium grade is twice that of the current resource, while the lithium grade in the lower hole is 6x that of the current resource! Plateau has outlined 124Mlb of U3O8 and 176,000t of LiO2 in resources elsewhere on the project, and completed a scoping study on a uranium heap leaching project in January 2016. However, given the increasing appreciation of the potential for the project to produce lithium along with uranium, the focus has now moved to a tank leach project. In addition to exploration, current work is concentrated on metallurgical test-work to optimise both lithium and uranium production.
*RFC Ambrian acts as Nomad to this company
†RFC Ambrian acts as Broker to this company
††RFC Ambrian acts as Agency Broker to this company
**RFC Ambrian has acted as a Placing Agent for this company
***RFC Ambrian acts as Financial Adviser to this company
†††RFC Ambrian has received fees from this company over the last 12 months
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