Berkleley Resources upbeat on results of scoping study at Salamanca
02 December 2009
Australian mining group Berkeley Resources has reported that a scoping study of its Salamanca uranium project in Spain has “strongly demonstrated” the technical and economic viability of the project.
Berkeley is now proceeding with the full feasibility study on the project, which is due to be completed by November 2010.
In the latest report, cash operating costs under the various scenarios ranged from US$26.15 - $29.65 per lb of U3O8 produced over the life of the project, including a very high standard of rehabilitation.
Capital costs to re-commission the Quercus plant - fully loaded with a 20% contingency and based on all new equipment - range from US$51.3m for the heap leach scenarios, to US$88.9m for the tank leach scenarios.
The study is based on mining a number of deposits within the ENUSA State Reserves, which collectively have exploration targets ranging from 28.0Mt-34.1Mt of ore at grades of 440-540 ppm of U3O8, as well as the company's JORC resources in the area of 15.9m lbs.
Drilling intended to bring the ENUSA deposits into accordance with the JORC Code is underway, with a revised JORC statement expected in the New Year.
The study did not uncover any substantial environmental, permitting or social hurdles to the project and various authorities have indicated their strong support for the project at a local level. As a result, it look like Berkeley's aim of restarting production by 2012 are achievable.
Under the forthcoming feasibility study, the company will take a closer look at the ongoing metallurgical test work, which is designed to determine the optimum process route for the various deposits, and particularly the suitability of heap leaching.
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