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Natural Resources

16 November 2017

Comment

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.

Corporate Broking

Jonathan Williams

+44 (0)20 3440 6817

jonathan.williams@rfcambrian.com

 

Charlie Cryer

+44 (0)20 3440 6834
charlie.cryer@rfcambrian.com

 

Research

Jim Taylor

+44 (0)20 3440 6821

jim.taylor@rfcambrian.com

 

Greg Bowie

+44 (0)20 3440 6833

greg.bowie@rfcambrian.com

 

David Bird

+44 (0)20 3440 6822

david.bird@rfcambrian.com

*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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