re: Ann: High Grade Mineral Resource nearly d...
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Four Mile Uranium Project in South Australia Mineral Resource Estimate nearly doubles to 28,000 tonnes (61 Mlb) uranium oxide (U3O8) at an average grade of 0.35% • Increase due to inclusion of maiden Inferred Mineral Resource Estimate for the Four Mile East deposit of 13,000 tonnes (29 Mlb) U3O8 grading 0.31% • Production at Four Mile currently scheduled to commence in January 2010 and is expected to ramp up to a targeted rate of 3 Mlb U3O8 per annum • The expanded resource further underpins the Four Mile Uranium Project as a long-term production centre • Further upgrade of resource at Four Mile West to commence based on drilling completed after release of initial resource of 32 Mlb U3O8 published in 2007 • Four Mile East remains open to the west and northeast while Four Mile West remains open to the southwest and northwest, with significant potential for further expansion of the resource base with additional drilling
AGS Price at posting:
62.5¢ Sentiment: Buy Disclosure: Held